Estate Planning

Beneficiary Designation Reminder

Posted on: March 25th, 2015
Beneficiary designation forms are an important way for account and asset owners to ensure the respective assets pass to the individuals of their choosing. Mistakes with beneficiary designations could result in serious loss – the testator’s wishes might not be carried out, surviving family might lose assets, and lengthy and costly probate might result. (Individuals...

Creditor Claims Against Decedents in North Carolina

Posted on: March 23rd, 2015
One of the many responsibilities executors have is ensuring that the decedent’s debts are satisfied. Creditor claims against estates in North Carolina generally fall into categories of priority. The North Carolina Administrative Office of the Courts provides the Order of Priority of Claims in Estate Procedures: Property liens up to the amount of the property...

When To Omit Beneficiaries From a Trust

Posted on: February 18th, 2015
Depending on the goals of the individual, trusts might name family, friends, or charities as beneficiaries. However, certain types of trusts may be structured with no human or organizational beneficiaries at all....

5 Tips for Millennials’ Estate Plans

Posted on: January 30th, 2015
Every adult can benefit from an estate plan, regardless of marital status, age, income, or assets. Our Chapel Hill estate planning attorneys have even reviewed estate planning tips for college students. ...

State Residency and Domicile in Estate Planning

Posted on: January 29th, 2015
Tax, probate, and asset protection laws in each state vary. Individuals might want to establish residency in a jurisdiction with attractive legislation for estate planning purposes, and they do not necessarily have to relocate in order to take advantage of the laws. ...

Estate Planning Mistake: Forgetting to Fund

Posted on: December 19th, 2014
Many estate plans include a living trust, a tool that can be amended at any time during the trust creator’s life and becomes irrevocable upon their death. Even the most carefully planned and detailed estate plans could be at least partially ineffective if the trust creator fails to fund the trust....
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