June 2016 Posts

  • How to Fix an Irrevocable Trust That Doesn’t Stand the Test of Time

    Trusts typically are structured to provide for the best interests of the beneficiaries. The settlor may have had the best intentions when establishing the trust, but a trust created by a great-grandparent more than seven decades ago for the benefit of their great-grandchild might include provisions that prove impractical or unviable when it comes time to administer the trust for the great-grandchild’s benefit. Is there a way to remedy an outdated irrevocable trust? Under certain circumstances, yes....
  • Probate of Real Estate in North Carolina

    Real property poses unique set of considerations in the context of estate or trust administration. To understand more about how a personal representative oversees the management and distribution of real property during estate and/or trust administration, take a closer look at some variables that affect property distribution....
  • Terminating a Trust in North Carolina

    Revocable and irrevocable trusts follow unique termination procedures. Although their name implies they cannot be changed, irrevocable trusts may be modified in certain circumstances. The circumstances surrounding a trust termination, and the type of trust, help to determine how a trustee may handle termination....
  • Types of Trust Beneficiaries

    Primary, contingent and remainder trust beneficiaries have different rights as beneficiaries. Who has the right to bring a claim against the trustee of a revocable living trust?...
  • Rights of Trust Beneficiaries

    Trust beneficiaries have legal rights detailed in the trust documents and governed by state and federal trust code. If problems have resulted from a negligent trustee, or the trustee fails to adequately address issues brought to his or her attention by the beneficiary, it might be time for the beneficiary to reach out to a trust attorney and, potentially, the courts for corrective action....
  • Why an Executor Might Need Probate Counsel in North Carolina

    An executor's knowledge of state and federal legislation pertaining to estate administration might be limited. This limited knowledge poses a risk of errors. ...