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....

Reverse Mortgages and Inheritances

Posted on: April 24th, 2014
Should beneficiaries of a potential inheritance be concerned if their elderly relative decides to get a reverse mortgage? Reverse mortgages are not the right choice for everyone. The New York Times recently reported how adult children are often against the idea of their parents using a reverse mortgage as this would deplete the asset the children would ultimately expect to inherit. ...

IRA Custodian Not Responsible for RMDs

Posted on: April 15th, 2014
Failing to take a Required Minimum Distribution (RMD) results in a penalty for the account owner. IRA account custodians are only responsible for notifying owners of their RMD; the owner must take the steps necessary to draw a distribution....

3 Things When You Inherit an IRA

Posted on: January 29th, 2014
Last year North Carolina passed legislation that provides added creditor protection for Individual Retirement Accounts (IRAs). ...

Step-Parents and Step-Children in Estate Planning

Posted on: January 24th, 2014
Estate planning for blended families is critical to ensure that assets are distributed as intended. A spouse’s family members are not included under North Carolina intestacy laws. Without a will, individuals who die in the Tar Heel State may not effectively leave assets to non-blood relatives....

Estate Planning for Posthumous Conceptions

Posted on: December 30th, 2013
A child may be born after a parent dies, which is a possibility couples can address in their estate plan. However, what are the inheritance rights of posthumously conceived children in North Carolina? ...
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