distribution

Managing Estate Assets

Posted on: May 8th, 2017
Executors must preserve estate assets until distribution. Overseeing estate assets could be a burden for executors, particularly if the decedent bequeathed out-of-state property or unique assets. ...

3 Tax Benefits the 50+ Crowd Enjoys

Posted on: August 10th, 2016
Although many tax regulations fluctuate based on the taxpayer’s adjusted gross income, some tax provisions are instead based on the taxpayer’s age. Knowing when an individual will enjoy certain tax benefits can help to guide tax planning. North Carolina taxpayers aged 50 and older enjoy several tax advantages....

Rights of Trust Beneficiaries

Posted on: June 7th, 2016
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....

Supplemental Needs Trusts: Critical Trustee Duty

Posted on: July 1st, 2014
A supplemental needs trust is funded with third party assets for the benefit of a disabled individual. (Special needs trusts are funded with the disabled person’s assets.) Both of these trusts help preserve a disabled person’s assets and their eligibility for certain public benefits programs. ...

Incentive Trusts

Posted on: June 24th, 2014
Trusts may be customized to suit the grantor’s wishes, which may include their determination of what’s best for their beneficiaries....

New NC Court Ruling Affects LLCs

Posted on: May 1st, 2014
North Carolina Limited Liability Company (LLC) owners may be interested in a new court ruling that illustrates the protection these asset preservation tools offer. ...

5 Proposed Rules for Retirement Accounts

Posted on: April 22nd, 2014
Our tax attorneys covered several pending federal revisions in our Tax Changes for 2015, one of which affects retirement accounts. ...

Permitted Distributions for Special Needs Trusts

Posted on: February 13th, 2014
If you are starting to explore options for Special Needs Trusts in North Carolina, one of the first differences you discover are “third party” trusts and “self-settled” trusts. ...

Tax Consequences of Equitable Distribution

Posted on: March 22nd, 2010
My article, Tax Consequences of Equitable Distribution, which discusses the income tax issues involved in the division of property due to divorce, was just published in Core Compass, an online newsletter for real estate investors and their advisors....