Estate, Trust & Probate Blog

power of attorney

Guarantees When You Do Not Have a Power of Attorney or Advance Directive

March 14, 2023

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.…

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Duties of Your Executor/Personal Representative in North Carolina

February 16, 2023

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…

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Probate Avoidance and Assets That Do Not Go Through Probate in North Carolina

January 11, 2023

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…

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An Overview of Pour-Over Wills with Living Trusts in North Carolina

December 14, 2022

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…

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Intestacy spelled out with letter blocks

North Carolina Intestacy Laws to Know

November 16, 2022

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 will they left behind is not valid.  There are many reasons why a will may be invalid in North Carolina. Some of the most common reasons include:  If a person dies intestate, the money and assets that are left behind will be divided up among their nearest relatives according to North Carolina intestate succession law. This can include anyone who is connected to the deceased through blood, marriage, or adoption.…

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Planning for Your Digital Legacy

October 20, 2022

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 to include your digital assets. Digital assets consist of everything we own online. Because we spend more time on computers and smartphones than we ever did before, you may not realize how much digital stuff you own, from photos and videos to online accounts, cryptocurrency, and nonfungible tokens (NFTs). Why Is It Important to Plan for Digital Assets? Planning for digital assets is important for several reasons. First, without a plan, digital assets may…

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How Cryptocurrency and NFTs Fit into Your Estate Plan

October 18, 2022

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 tokens (NFTs), which are powered by the same blockchain-based technology. Despite the dizzying fluctuations in the value of these assets, you should ensure that they are included in your estate plan so you can preserve them for your heirs. Preserving Cryptocurrency: Now and Later Cryptocurrency, which is digital money, is exhibiting stability as part of the global financial landscape, even though the value of individual coins (units of cryptocurrency) has been notoriously volatile. The…

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Three Pillars of Estate Planning

October 12, 2022

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 death. It is important to have a solid estate plan in place because it can protect your assets and provide for your loved ones if you become incapacitated or die.  The three main pillars of estate planning in North Carolina are incapacity planning, asset protection planning, and at-death planning. Each of these pillars has important implications for the overall success of an estate plan. The North Carolina estate planning attorney at David Anderson, PLLC will…

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Alzheimer’s and Estate Planning: What You Should Know

September 14, 2022

Alzheimer’s disease is a progressive condition that affects the brain, causing problems with memory, thinking, and behavior. As Alzheimer’s progresses, it can become increasingly difficult for a person to make decisions about their care and finances. This can create challenges for the individual with Alzheimer’s. It may also cause problems for the family of a loved one with Alzheimer’s. If you have been diagnosed with Alzheimer’s, it is important to start planning for the future now. Estate planning is important for everyone, but it can be especially important for people with Alzheimer’s disease.  Without a solid estate plan in place,…

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Can Cryptocurrency Be Inherited in an Estate?

August 17, 2022

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. This makes them unique compared to other forms of currency. Cryptocurrencies can also be stored in digital wallets on computers or mobile devices. Unlike fiat currencies, which are legal tender, cryptocurrencies are not regulated by a governing body and as such are often unable to be used to purchase goods and services. This often begs the question: “Can cryptocurrency be inherited in an estate?” We will discuss that in this article. Cryptocurrency as…

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