Trusts

Avoid a Will Dispute

Posted on: May 26th, 2015
An individual’s last will and testament might clearly reflect one’s wishes, but it does not prevent an estate dispute. Successfully contesting a will in North Carolina (and similarly in other states) requires evidence of certain factors. ...

Opportunities for 529 College Savings Plans

Posted on: May 24th, 2015
529 College Savings Plans consistently offer long-term tax-deferred growth for future students. As a savings tool, 529 plans come with a few restrictions. For one, contributions must be made with after-tax dollars. ...

A Will’s Limits in North Carolina Probate

Posted on: May 8th, 2015
A will cannot achieve every goal of the testator. No matter how finely crafted provisions are made and assets are addressed in a will, additional tools can help the testator preserve their wishes. An improperly drafted will, one that is not filed, or dying without a will could prompt courts to distribute the estate according...

Last-Minute Estate Planning in North Carolina

Posted on: April 9th, 2015
Forbes cited a survey in 2014 that revealed 51% of Americans aged 55 to 64 do not have an estate plan. Sometimes a health crisis prompts an individual to create a plan for bequeathing their assets. ...

Vulnerability for Domestic Asset Protection Trusts

Posted on: March 2nd, 2015
A recent court case involving a Domestic Asset Protection Trust (DAPT) revealed a possible threat to the protections provided by these powerful asset preservation tools. DAPTsgenerally are used when enhanced creditor protections are desired. Some jurisdictions also provide tax benefits for DAPTs....

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....
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