Estate Planning
Who Will Raise My Kids If Something Happens to Me?
Learn why naming a legal guardian in your North Carolina estate plan is essential for parents of minor children and what other planning documents to consider.
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Estate Planning Insights
Practical guides and articles on estate planning and probate for Wilmington and coastal North Carolina families.
Estate Planning
How Do I Choose Between a Financial Power of Attorney and Healthcare Power of Attorney?
A financial power of attorney and a healthcare power of attorney serve different purposes. Learn how each works and why many North Carolina estate plans need both.
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Estate Planning
Who Inherits My House in North Carolina If I Don't Have Children or a Will?
Learn how North Carolina intestate succession may determine who inherits your home when you die without a will and without children.
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Estate Planning
What Happens If My Personal Representative or Executor Moves Out of State?
When most people choose a personal representative for their estate, they pick someone they trust completely, often a spouse, sibling, adult child, or close frie
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Estate Planning
What Assets Should Go in My Trust Versus My Will?
If you have started thinking seriously about estate planning, chances are you have run into the trust versus will question. It sounds like a straightforward sor
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Estate Planning
How Long Does Estate Administration Take in North Carolina?
Losing a loved one is one of life's most difficult experiences, and the legal and financial responsibilities that follow can feel overwhelming. One of the first
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Uncategorized
What Happens to My Retirement Accounts When I Die in North Carolina?
You've spent decades building your retirement savings, carefully setting aside money so that your family will be taken care of. But have you thought about what
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Estate Planning
Can I Name a Guardian for My Elderly Parent in North Carolina?
When you notice your aging parent struggling with daily decisions or becoming vulnerable to financial exploitation, the question of guardianship often arises. M
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Estate Planning
Minimizing Estate Taxes: How Proper Planning Can Help You Keep More for Your Heirs
When you've spent a lifetime building wealth and security for your family, the last thing you want is to see a significant portion of it consumed by taxes after
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Estate Planning
How Unmarried Couples Can Look Out for One Another When Estate Planning
When you've built a life with someone, you naturally want to protect each other. You share a home, make financial decisions together, and plan for the future as
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Estate Planning
Protecting Your Assets: How to Safeguard Your Wealth from Creditors and Lawsuits
You've spent years building your wealth through hard work, smart investments, and careful financial decisions. But have you taken steps to protect what you've a
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Estate Planning
Planning for Incapacity: What Documents Do You Need?
Nobody likes to think about becoming unable to make their own decisions, but planning for potential incapacity is one of the most important steps you can take t
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Uncategorized
Can My Family Contest My Trust After I Die?
Many people choose a revocable living trust as a cornerstone of their estate plan because it offers privacy, flexibility, and the ability to pass assets to love
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Estate Planning
Should You Choose a Will or a Trust for Your Estate Plan?
When planning for your family's future in North Carolina, one of the most common questions that arises is whether you need a will, a trust, or both. This decisi
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Estate Planning
Estate Planning for First Responders: Protecting Those Who Protect Us
First responders dedicate their lives to protecting others, often putting themselves in harm's way to serve their communities. While they focus on keeping other
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Estate Planning
The Importance of Estate Planning for Everyone: Why You Shouldn't Wait
Many people believe estate planning is only necessary for the wealthy or elderly. This common misconception leads many people to postpone creating these importa
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Uncategorized
David Anderson Admitted to the South Carolina Bar: Expanding Legal Services Across State Lines
We are pleased to announce that Attorney David Anderson has been admitted to the South Carolina Bar. This significant milestone further strengthens his ability
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Probate
Why Avoiding Probate Is A Smart Estate Planning Move
When it comes to estate planning in North Carolina, one of the most beneficial steps you can take is to develop a plan that avoids probate. Understanding probat
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Probate
Probate in North Carolina: What You Need To Know As a Personal Representative
When someone dies with a will, the document typically names an executor. If no valid will exists, the court will appoint an administrator. In either case, these
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Estate Planning
Estate Planning for New Parents
After having your first child, you begin to think of your future in new ways. You’re now suddenly worrying about creating a college fund for your child and prot
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Estate Planning
Power of Attorney vs. Guardianship: Which Is the Right Choice in Your Situation?
According to the CDC, over one-fourth of American adults have disabilities. Many can continue to lead normal lives without having to rely on others for assistan
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Uncategorized
What to Bring to an Estate Planning Meeting: Documents & Info Checklist
If you’re planning a meeting with an estate planning attorney, you’re making a very smart choice. Your lawyer can help you create your will and trust, set up gu
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Estate Planning
Prenups and Estate Plans: How Does One Affect the Other?
At first glance, prenups and estate plans don't have much in common. One protects property in the event of a divorce and the other details arrangements after so
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Estate Planning
When To Consider Hiring a Probate Attorney
Do you have a loved one who recently passed away without a valid will? While this isn’t as uncommon as you might imagine, you will still want to look into hirin
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Estate Planning
Who Should Engage in Estate Planning With an Estate Planning Attorney (and Starting When?)
When you hear the term "estate plan," you may believe that you don’t really need one. However, the majority of people have more assets than they think, and the
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Estate Planning
What Qualifies as a Valid Will in North Carolina?
If you haven’t made a will yet, now is a great time. Without one, your assets could end up in the hands of someone you didn’t intend. A will lets you control wh
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Estate Planning
Dangers Associated With DIY Estate Planning Versus Working With an Attorney
You’ve found a DIY estate planning kit on the internet, so you decide to give it a shot. It’s free, and that certainly seems to beat paying a Wilmington estate
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Estate Planning
Estates, Wills & Trusts In North Carolina: What You Need To Know
When it comes to end-of-life planning, there are understandably many emotions and there can be much stress involved. Dealing with state-specific laws and regula
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Estate Planning
A Glossary of North Carolina Estate Planning and Probate Terms
Ask almost any fellow adult, and they'll likely tell you that they're familiar with the term "estate planning." If you inquire a bit further, they might even go
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Uncategorized
How To Distribute Assets and Handle Debts After a Loved One Passes Away
When someone passes away, we typically see one of two situations happen. Someone who was forward-thinking will typically have sat down with an attorney at some
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Estate Planning
Understanding North Carolina's Guardianship Statutes
When you hear the word guardian, you probably think of the person who steps in for a parent when their parent is unable to be there for them. While this is cert
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Estate Planning
Common Estate Planning And Probate Issues And How To Avoid Them
Estate planning and the probate process can often seem like a straightforward affair, but with the complexity of different types of estates, we see a myriad of
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Estate Planning
Understanding Different Types of Trusts: A Guide for North Carolinians
Estate planning can be a complex endeavor, but it is an essential step in ensuring that your assets and loved ones are taken care of after you're gone. One of t
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Estate Planning
Understanding North Carolina's Advance Healthcare Directives
If you want to ensure your wishes are followed in case you become incapacitated, there are specific legal documents you should consider having in North Carolina
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Estate Planning
The North Carolina Probate Process And How To Navigate It
If you are going through the probate process in North Carolina, you may be experiencing a wide range of emotions as you begin. The death of a loved one is alway
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Uncategorized
The Importance Of Creating A Will Or Trust In North Carolina
The decision to create a will or trust is a significant decision about the legacy you wish to leave behind and the protection of your loved ones' financial futu
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Estate Planning
What are the Duties of a Trustee? (how to choose one)
Any adult aged 18 and older should consider creating a comprehensive estate plan. It does not matter how much wealth you have or if you have a family, although
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Estate Planning
Using Estate Planning To Support Charitable Causes
An important part of estate planning for many people is making sure that their money will continue to make a difference after their death. There are several opt
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Estate Planning
Guarantees When You Do Not Have a Power of Attorney or Advance Directive
Let’s face it: nobody wants to think about a situation where they are unable to make decisions for themselves and need someone to make decisions for them. Incap
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Estate Planning
Duties of Your Executor/Personal Representative in North Carolina
When someone passes away, their assets and property must be distributed according to their wishes as outlined in their will or according to North Carolina intes
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Estate Planning
Probate Avoidance and Assets That Do Not Go Through Probate in North Carolina
In North Carolina, probate is the legal process of administering the estate of a deceased person. This involves identifying and inventorying the deceased person
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Estate Planning
An Overview of Pour-Over Wills with Living Trusts in North Carolina
Estate planning is an essential step in protecting your loved ones after you die. It can help ensure that your assets are distributed according to your wishes w
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Estate Planning
North Carolina Intestacy Laws to Know
In North Carolina, intestacy is the legal term for when someone dies but does not have a will. A person may also be categorized as having died intestate if the
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Estate Planning
Planning for Your Digital Legacy
An estate plan often focuses on tangible property such as jewelry, artwork, money, and vehicles. However, in this age of technology, it is important to remember
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Estate Planning
How Cryptocurrency and NFTs Fit into Your Estate Plan
Five years ago, cryptocurrency was probably not on your radar. Today, it may be an important investment in your portfolio. You could even own some nonfungible t
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Estate Planning
Three Pillars of Estate Planning
Estate planning is a process that individuals use to create a will, appoint guardians for their children, and plan for their family’s financial future after dea
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Estate Planning
Alzheimer's and Estate Planning: What You Should Know
Alzheimer's disease is a progressive condition that affects the brain, causing problems with memory, thinking, and behavior. As Alzheimer's progresses, it can b
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Estate Planning
Can Cryptocurrency Be Inherited in an Estate?
Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are not backed by the US (or any) government or central bank, but by a community of miners and users. T
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Uncategorized
Are You Responsible for the Debts of a Parent or Sibling in North Carolina?
If you are a child or sibling of a person who has failed to pay their debts, you may be wondering if you are responsible for those debts. The answer to that que
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Estate Planning
What Happens If a North Carolina Estate Owes Back Taxes?
An estate in North Carolina may owe back taxes if the deceased did not pay all of their taxes before they died. If this is the case, the estate will need to wor
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Estate Planning
How Is Owning Property in Multiple States Handled in an Estate Plan?
When a person dies, their property is distributed among their heirs according to their state's laws. This can be a complicated process, and it can get even more
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Estate Planning
What Is A Power Of Attorney And When Is It Necessary?
Estate planning is about far more than deciding who gets what. It is about putting the right structure in place to protect yourself and your family—regardless o
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Estate Planning
How Often Should I Update My Estate Plan?
Creating an estate plan is a good way to secure your family and protect their future. Most people with estate plans review them regularly. In many cases, these
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Estate Planning
What Is Probate And How Could It Affect Me?
Probate is the legal process for distributing property after you pass away. Usually initiated by an executor, probate validates your will and begins the process
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Estate Planning
Where Should I Store My Estate Planning Documents?
Creating an estate plan is just the first step in securing the future for your loved ones. After creating your estate plan, you must ensure the documents are st
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Estate Planning
Why Estate Planning Is Critical For Entrepreneurs & Business Owners
As individuals, we all recognize that we need to make plans to transfer our assets at the end of life, but as business owners, sometimes that task falls to the
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Estate Planning
How To Protect Your House If You're Moving Into A Nursing Home
If you or a loved one are planning on moving into a nursing home or long-term care facility, there are essential things to consider to protect your house and ot
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Estate Planning
Completing The AOC-E-505 Estate Inventory In North Carolina
Being an executor of someone’s estate is one of the most significant things someone can request of you before their passing. As the executor, you’ll need to acc
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Estate Planning
Changing A Revocable Trust In North Carolina
A revocable living trust is one of the essential tools used in estate planning. It lets you control and handle your property during your life and determine how
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Estate Planning
How Easy Is It To Change My Will?
Having a valid will in place is essential for planning your estate effectively. When you create and sign a will, it indicates your intentions at the moment. How
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Estate Planning
A Summary Of Upcoming Proposed Estate Law Changes
In light of the global pandemic and its impact on the US economy, President Biden's administration has proposed legislation with the goal of starting to build b
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Estate Planning
Protecting Children With Special Needs In Estate Planning
As the parent or guardian of a child with special needs, one of your concerns may be ensuring your estate plan protects their financial future. Leaving a lump-s
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Firm News
David Anderson Earns ChFC Designation
We are excited to announce that David Anderson has earned his Chartered Financial Consultant (ChFC) designation! Awarded by the American College of Financial Se
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Estate Planning
Protecting Your Pets With A Pet Trust
Pets are an important part of our families. The American Animal Hospital Association estimates that nearly 80% of US households have at least one pet, and about
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Uncategorized
How The "Year's Allowance" Helps After A Spouse's Death
The death of a spouse can be devastating for many people. The emotional and financial struggles that come with the loss are very difficult to handle, especially
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Uncategorized
How "Gray Divorces" Can Impact Your Estate Planning
Although separation is becoming less common for younger couples in the United States, divorce in couples 50+ has been increasing in recent years. Also known as
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Estate Planning
What Happens To Your Digital Assets When You Die?
Today’s world is moving more and more to digital assets - some, more traditional, like online bank accounts, social media or websites. And, some more on the cut
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Estate Planning
Can A Minor Inherit Real Property?
If you have children, are you planning on them inheriting property in your estate after your passing? Although there is no rule prohibiting a minor as an heir i
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Estate Planning
The Potential Pitfalls Of DIY Estate Planning
Estate planning is a critical step to provide for your family’s future needs. You want to make sure to secure their future, and ensure that your wealth is distr
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Estate Planning
Four Reasons Your Will May Be Contested in Court
Having an updated last will and testament is more important than ever, especially now. However, a will that is poorly created or not frequently updated can be v
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Estate Planning
Are Out-Of-State Estate Planning Documents Valid In NC?
We frequently receive calls inquiring about whether out-of-state estate planning documents are valid in North Carolina. The short answer is likely yes. A typ
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Estate Planning
The College Protection Plan
Sending your child off to college is nerve-wracking enough in normal circumstances. Unfortunately, these are not normal circumstances. In addition to worrying a
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Business
Five Reasons Business Owners Need Estate Plans
Business owners are notorious for engrossing themselves in the day-to-day management and functions of their businesses. As a business owner, you are likely the
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Estate Planning
Modernizing an Outdated Estate Plan - What to do with a Confusing, Old Trust?
Estate plans evolve. Or at least they should. Any plan that fails to achieve your goals and doesn’t match your current financial and family circumstances is out
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Estate Planning
Can Medicaid Estate Recovery Take Your House?
All 50 states and the District of Columbia have Medicaid Estate Recovery Programs (MERP). The program was made mandatory after the passing of the Omnibus Budget
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Estate Planning
If I Don't Have an Estate, Do I Really Need an Estate Plan?
You don’t need to have a summer house in the Hamptons or a private art collection big enough to rival MOMA to consider yourself the owner of an estate. In fact,
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Estate Planning
How A Living Trust Helps Your Family
There are several parts to an estate plan, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits,
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Estate Planning
How Does A Revocable Living Trust Work?
In recent years, revocable trusts have become a preferred method in estate planning to a regular one-time Will or irrevocable trust. Although revocable trusts i
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Estate Planning
Kids Going Away To College? Why You Should Include Estate Planning in the Preparation
You may have been running around for weeks, getting your new college student off to school. It's exhilarating, and your heart likely is bursting at the seams. Y
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Business
6 Key Considerations for Passing Down a Family Business
You have spent years building your small business, but have you taken time to consider what will happen to it when you retire, become disabled, or pass away? Al
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Estate Planning
Legal Guardianships And Incompetency In North Carolina
Guardianship is a process which establishes a legal relationship between a capable adult, agency, or qualified organization and an incompetent person, in order
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Estate Planning
What Is An Advance Medical Directive?
For most of us, it is our goal to live our entire life being able to make decisions around health care and more on our own, but unfortunately, that does not alw
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Estate Planning
What To Do After A Death: A North Carolina Executor's Checklist
While estate administration after the death of a loved one is not something to look forward to, it may be required in most instances. A comprehensive estate pla
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What Happens If You Die Without A Will In North Carolina?
Even with the clear benefits of having a will, we’ve found that far too many people in North Carolina don’t have one. For those without a will, there are a myri
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How Does Probate Work In North Carolina?
If you've recently lost a loved one, it’s important to know how probate works in North Carolina. It is a topic that many people don't know anything about until
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5 Reasons You Need a Will in North Carolina
Is a will really something that you need? If you want to know that your family will follow your wishes after your death, having a will is critical. Your will is
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Our blog is a starting point — not a substitute for legal advice. Contact David E. Anderson PLLC for guidance specific to your situation.
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