Estate, Trust & Probate Blog

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 the key tools in estate planning is the “trust,” a legal entity that holds property or assets for the benefit of specific persons or entities.  Trusts can be used for a variety of purposes, such as minimizing estate taxes, protecting assets, and facilitating the smooth transition of wealth. For example, if your local library or another institution is close to your heart and you want to make sure to leave…

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. These documents allow you to specify your preferences for medical treatment and to appoint someone to make decisions on your behalf.  To craft these documents properly, it’s important to understand the purpose of each one and to have a Wilmington estate planning attorney on your side to help ensure they are created and executed properly. Health Care Power of Attorney A Health Care Power of Attorney (HCPOA) is a legal document that allows you…

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 always challenging, and being thrust into the unfamiliar territory of probate can be overwhelming.  You may feel uncertain or even anxious about managing the legal and financial aspects of your loved one’s estate. You might be worrying about making a mistake or about conflicts among family members. These feelings are completely normal – probate can be a complex process, and it’s understandable to feel uneasy, especially given the circumstances. Understanding…

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 having children and a spouse definitely does merit an even greater need to establish an estate plan if one has not been made. Estate planning is so significant because most people want to know that when they pass on, what they have amassed in their life will go directly to the beneficiaries they intend their wealth and assets to.  Not all estate plans are the same, and each individual has their…

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 options in North Carolina to put your estate’s resources to work for charities or other organizations that mean a lot to you. It’s important to note that the specific benefits of charitable giving can depend on your individual circumstances, such as your tax situation and the charities or organizations you choose to support. The Benefits Of Charitable Estate Planning Charitable giving allows you to support causes and organizations that are important to you…

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. Incapacity due to illness, injury, or other unpredictable situations can happen to any of us, however. When a devastating event occurs, it is crucial to have steps in place that allow our family and friends to step in and do what is right for us.  In North Carolina, powers of attorney and health care powers of attorney exist to help people through life’s most challenging situations. Estate planning attorneys such as David E.…

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 intestate laws if the person dies without a will.  In this article, our North Carolina estate planning attorney at David Anderson, PLLC, will discuss the duties of an NC executor or personal representative in sharing assets and also touch on relevant statutes that you need to know. What is an Executor/Personal Representative? An executor is a person appointed in a will to manage the distribution of a deceased person’s assets and property. An administrator is…

In North Carolina, probate is the legal process of administering the estate of a deceased person. This involves identifying and inventorying the deceased person’s assets, paying their outstanding debts and taxes, and distributing the remaining assets to their beneficiaries. The probate process is typically overseen by a court and can involve various legal procedures, depending on the specific circumstances of the estate.  Since probate can be a long, drawn-out process, many people prefer to try to understand North Carolina laws in order to plan ahead. In this article, we will provide an overview of the different kinds of assets that…

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 while helping your loved ones avoid probate and reduce estate taxes. There are different ways in which estate planning can help protect your legacy, depending on your goals.  In this article, we will discuss using a pour-over will with a living trust as an estate planning tool. Probate in North Carolina In North Carolina, the probate of a will is the process by which a will is established as valid and executory. The…