September 2016 Posts

  • NC Marriage Ruled Valid Despite Lack of Marriage License: How This Affects Estates

    North Carolina courts denied a wife’s claim to her spousal share since no marriage license existed. However, the wife filed an appeal, and the appellate court judge ruled that the absence of a marriage license does not invalidate a marriage, thus allowing the wife to claim a spousal share....
  • Updating Revocable Trusts in North Carolina

    Updates to one’s revocable trust may be made by an amendment or a complete restatement. An amendment updates a specific part of the trust, while a restatement updates the entire trust. ...
  • Caveat to IRA Contributions

    Retirement account owners should be aware of a requirement that must be fulfilled in order to contribute to an individual retirement account: compensation income. Annual contribution limits for retirement accounts are common knowledge, but account owners don’t often consider that the ability to contribute is conditional....
  • Overview of North Carolina’s Digital Assets Act

    North Carolina Governor Pat McCrory signed a bill into law over the summer of 2016 that allows digital account holders to provide a fiduciary with authority to manage their digital assets. The Act modifies various provisions of North Carolina statutes to conform to the new law, including the North Carolina power of attorney form....
  • What Executors Should Know About Digital Assets in North Carolina Probate

    In late June 2016, the North Carolina governor signed Senate Bill 805, Revised Uniform Fiduciary Access to Digital Assets Act, into law. The Act provides that trustees, executors, agents under powers of attorney, and other fiduciary parties in North Carolina may be granted authorities over electronic records and communications of another user. ...