Estate, Trust & Probate Blog

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 guardianship for your children, and answer any questions you have about probate. By talking with an estate planning lawyer now, you’ll spare your family stress and uncertainty in the future. What documents should you bring to your meeting with an estate planning attorney? David E. Anderson, PLLC explains more below. A List of Questions Like many who are meeting with an estate planning lawyer for the first time, you probably have quite…

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 point to draft a will and other estate planning documents, while others, whether they believed they were too young or didn’t have enough assets to do so, perhaps will have not yet done this. Not having a will drafted poses some potential problems, with the most pronounced issue being how to distribute assets and handle debts after a loved one passes away.  Below, our firm, David E. Anderson, PLLC, will share more about how…

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 future.  In North Carolina, as with other states, establishing a well-crafted will or trust offers numerous advantages. These critical legal documents can ensure your assets are distributed according to your preferences, protect your estate from substantial probate fees, expedite the asset distribution process, and provide a measure of control over your wealth after your passing.  By being aware of the unique benefits that both types of legal arrangements offer, you can determine…

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 question is “no” in North Carolina.  The responsibility for debt falls on the person who incurred the debt, not their family members. This is true regardless of whether the family member knew about the debt or not. However, there are some exceptions to this rule. For example, if you co-signed a loan, you will have to pay it back. Why?  When an individual co-signs a loan, they are…

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 in the early days after their passing. However, one thing you should not neglect is your finances. If your spouse was responsible for handling all of the family’s finances before they passed away, it may be hard to manage everything on your own. This blog post will go over the benefits of the “year’s allowance” after a spouse’s death so you can make sure to take care of yourself and your children financially…

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 “gray divorce”, the divorce rate for Americans 50 and over is over twice the numbers recorded just 20 years ago according to the Pew Research Center. With couples in this age range, divorce is often more complex and impactful than divorce in younger couples for multiple reasons. In this article, we’ll dive into the impacts of “gray divorce” on estate planning. Challenges Unique to Gray Divorce Most young couples don’t own significant assets before…