- Advance Directives
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- Gift Tax
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- Living Trusts
- NC Income Tax
- North Carolina Department of Revenue
- Nursing Homes
- Pending Legislation
- Powers of Attorney
- Qualified Plans
- Real Property
- Social Security
- Special Needs Planning
- Tax Fraud
Dave Ramsey Might be Misinformed About Living Trusts
Posted on: May 7th, 2016
Financial guru Dave Ramsey shares advice regarding managing debt and finances with millions of people. However, one of his books makes a broad statement about living trusts that is not entirely true....
3 Things Living Trusts Won’t Control
Posted on: April 28th, 2016
Trusts can help to minimize an estate tax burden and allow the trust grantor to retain control and flexibility. While trusts may serve as a powerful estate planning tool, there are some aspects that a living trust will not control....
Trust Modifications if you Move Out-of-State
Posted on: August 27th, 2013
If you are moving to North Carolina and already established a living trust in another state, or if you established a living trust in North Carolina and are now moving out-of-state, are you compromising the terms of your trust with your relocation?...
Can I Use a Power of Attorney to Modify a Trust?
Posted on: August 18th, 2013
Although not an everyday question, at times those who are attorneys-in-fact—the authorized agents appointed in an individual’s power of attorney—inquire about their abilities to amend a trust....
Transferring Vehicles to a Revocable Living Trust
Posted on: September 26th, 2012
The use of revocable living trusts to avoid probate is common in North Carolina. However, one type of property that is rarely transferred to a living trust is automobiles, since doing so involves a trip to the local DMV office and paying to change the title. ...
Why You Might Not Want a Simple Estate Plan
Posted on: April 25th, 2011
Many people come in to see me with the notion that all that they need and want is a "simple" estate plan. Generally that means no living trust, and a will with no trust provisions for surviving family members. ...
IRS Announces Tax Filing Relief for NC Victims of April 16 Storms
Posted on: April 22nd, 2011
From NC-2011-20, April 20, 2011: GREENSBORO — Victims of severe storms, tornadoes and flooding on April 16, 2011 in parts of North Carolina may qualify for tax relief from the Internal Revenue Service....
How Does Your Living Trust Stack Up?
Posted on: November 12th, 2009
Click "Continue Reading" for a Comprehensive Living Trust Checklist to determine whether or not your trust needs to be upgraded. Thanks to attorney Thomas J. Bouman for the checklist, which I have modified for North Carolina purposes....
When NOT to use a Living Trust
Posted on: October 6th, 2009
Practically every day, I discuss with clients the pros and cons of revocable living trusts. In my opinion, the positives generally far outweigh the negatives, but living trusts don’t make sense for everyone. ...
SECU Strikes Back on Living Trusts and Real Estate
Posted on: March 5th, 2009
I recently blogged about my disagreement with the North Carolina State Employees Credit Union’s policy on mortgages when the property was previously held in the owner’s living trust. ...
Title Insurance for Real Estate in Living Trusts
Posted on: February 19th, 2009
My standard advice for clients who are transferring real property to their revocable living trusts is to check with their title insurance company to make sure they will still be covered....
SECU has Ridiculous Policy on Living Trusts
Posted on: February 15th, 2009
I have long known that the North Carolina State Employees Credit Union (SECU) refuses to refinance any residence owned by a revocable living trust. ...
FDIC Releases New Simplified Rules for Coverage for Living Trusts
Posted on: October 26th, 2008
This is the Press Release issued by the FDIC (emphasis added): The FDIC’s Board of Directors today adopted changes to simplify the rules for determining the coverage available on revocable trust accounts – commonly called payable-on-death accounts or living trust accounts....
Beyond the Basics – a Trio of Considerations for Succession Planning
Posted on: May 16th, 2008
When doing estate planning, one needs to consider to whom to leave one’s property, which is usually not much of a problem....
Real Estate and Living Trusts – Things to Consider
Posted on: July 19th, 2007
Living Trusts are a common estate planning technique for avoiding probate and facilitating management of assets in the event of incapacity. ...
Play Dumb to Find a Good Lawyer?
Posted on: June 23rd, 2007
Today I came across a question and answer column on the Raleigh News and Observer website called "Ask Holly." ...
Educate Yourself to Help Avoid Living Trust Scams
Posted on: April 26th, 2007
This article on the website of the National Consumer Law Center provides a glossary of living trust related terms, description of common scams, educational resources, and more....
Living Trusts Article in USA Today quotes NC Attorney General
Posted on: February 15th, 2007
The February 9, 2007 issue of USA Today contained an article on Living Trusts. I found the article to provide a good overview of living trusts and their advantages and disadvantages. However, a few things deserve comment:...
Living Trust Scammers Booted Out of NC
Posted on: October 13th, 2006
Good news in this recent article in the News and Observer: Andrea Weigl, Staff Writer : A Wake Superior Court judge has ordered two California companies to stop selling estate planning products to North Carolina consumers...