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posted: December 21, 2008
Once you have finalized and executed your Last Will and Testament, you must make sure that your assets correspond with how your Last Will and Testament disposes of your assets. The disposition of any asset that you have named a beneficiary will not be disposed of via your Last Will and Testament. For example, if [...]
posted: December 1, 2008
North Carolina treats adopted children just like “natural” born children. If you make a disposition in your Last Will and Testament leaving assets to your children in equal shares, this will include any adopted children. As an extra precaution (for your peace of mind!) you can certainly include a sentence that your adopted child or [...]
posted: November 16, 2008
In these trying economic times, many are going to be in the unfortunate position of not being able to pay on their debts. Ultimately, business owners may find many of their accounts heading towards collections. As a business owner, there are ways in which you can prevent your business from being affected or at the very least, limit your risk. I [...]
posted: November 12, 2008
Part of an estate planning attorney’s job is to anticipate potential situations that may occur in the future. If a client comes to my office wanting to have an Estate Plan prepared, part of my initial consultation is to dicuss with that client family plans. For various reasons people chose not to have children or some clients cannot have children. Having a [...]
posted: October 13, 2008
I recently received a call from a woman who was not a resident of North Carolina. She lived, worked and had assets in another state. The only connection to (asset in) North Carolina was a second home being rented to a family member. Her intent was to move to North Carolina within the next two years. I was asked if [...]
posted: August 7, 2008
One of the assets I look at and consider when Estate Planning for a client is any real property that the client owns. This includes residential homes as well as rental properties. A big mistake people make is owning rental property in their own name. What they may not realize is if it is owned in their own name that [...]
posted: August 4, 2008
At first, most clients that meet with me think that they do not have a large enough Estate to be concerned about it being taxed when they pass away. When I have completed asking them questions they are amazed at the true value of their Estate. The reality is that many people need to start planning [...]
posted: June 16, 2008
One of the biggest reasons my clients say that they waited to have their Last Will and Testaments drafted is because they did not know who to choose for the guardian of their children. This is not a decision to take lightly. These are your children and the thought of them being raised by someone [...]
posted: June 10, 2008
If you pass a way while a resident of North Carolina and you do not have a Last Will and Testament, the State of North Carolina dictates how your assets are distributed. It is called Intestacy. The Intestacy laws dictate the distribution of your personal and real property based upon who was alive on the [...]
posted: June 9, 2008
Traditionally the word “will” applied to the distribution of real property and the word “testament” applied to the distribution of personal property. North Carolina considers the word “will” to include both real and personal property. The State of North Carolina recognizes written and oral Last Will and Testaments. One that is written can be either [...]
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