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2017 North Carolina Tax Law Changes
Posted on: March 30th, 2017
Changes to tax rates in North Carolina became effective on January 1, 2017. The adjustments affect both businesses and individuals. When revising tax planning efforts, consider the modifications below....
New Legal Library on Trusts, Estates, and Tax Law
Posted on: March 23rd, 2017
TrustCounsel's new Legal Library is now a permanent free online resource with guides to help direct executor’s discussions with attorneys, as well as to alert legal and financial practitioners of important probate and trust law matters....
Possible Tax Items to Expect With Trump Adminstration
Posted on: December 12th, 2016
Have you reviewed the proposed tax changes under the forthcoming Trump Administration? Read on to learn what is expected to change within the first 100 days following inauguration....
3 Errors North Carolina Executors Might Encounter Without Legal Counsel
Posted on: November 21st, 2016
When it comes to legal matters, it’s not in the executor’s best interest nor the best interest of the estate or its beneficiaries to rely on a DIY effort. The most important issue executors should understand is that executors are held personally responsible for probate errors and mistakes, regardless if the blunder was unintentional....
Why an Executor Might Need Probate Counsel in North Carolina
Posted on: June 6th, 2016
An executor's knowledge of state and federal legislation pertaining to estate administration might be limited. This limited knowledge poses a risk of errors. ...
Tax Concerns for New Domicile
Posted on: May 23rd, 2015
Living in one state while claiming domicile in another could offer many benefits depending on the jurisdictions. Tax benefits are generally a prime factor when an individual considers claiming domicile outside their resident state....
Learn if You Need to File an Amended NC Tax Return
Posted on: May 6th, 2015
Just after the start of the year, our tax attorneys in Chapel Hill encouraged some filers to hold their returns until after the General Assembly decided whether to pass pending state income tax laws. ...
2014 Tax Extensions – Limited Time Remains
Posted on: December 20th, 2014
With less than two weeks remaining in the 2014 tax year, Congress passed several tax extensions. The tax provisions were included in H.R. 5771 Tax Increase Prevention Act of 2014. ...
Tax Concerns When Modifying Trusts
Posted on: June 17th, 2013
In May 2013, the Internal Revenue Service issued a Private Letter Ruling addressing tax concerns resulting from a trust modification agreement. PLRs are issued when a taxpayer directly requests guidance from the IRS on a specific matter....