Beneficiaries

Increasing Trust Income Distributions

Posted on: August 19th, 2014
Many trusts provide for lifetime income, but no principal, to the first generation of beneficiaries. In these days of low interest rates, income payments have suffered. However, income distributions from trusts do not have to be permanently affected by low interest rates. ...

When Beneficiary Designations are Void

Posted on: July 23rd, 2014
As a general rule, beneficiary designations supersede instructions for transferring assets that may appear in a Will. This is one of the reasons why regular reviews of one’s estate plan are critical. ...

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. ...

Estate Planning Mistakes of Newlyweds

Posted on: June 1st, 2014
Prenuptial agreements and postnuptial agreements are not the only estate planning tools engaged couples and newlyweds in North Carolina should consider. ...

Estate Planning for New Parents in North Carolina

Posted on: May 20th, 2014
According to the North Carolina State Center for Health Statistics, over 17,800 babies were born in the three major counties of the Triangle during 2012. How should parents update their estate plans for new babies?...

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). ...
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