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posted: December 31, 2010
Minimizing probate costs or avoiding probate all together is a very real concern for people who want to make sure certain assets such as stocks, bonds, brokerage and bank accounts automatically pass to their heirs upon their death. In such a scenario, Transfer on Death Accounts (also known as TOD’s) can be a very useful [...]
posted: November 10, 2010
I have assisted clients as a wills and trust attorney for over 10 years. In that time, I have found that many clients do not fully understand the privacy issues that will face their family should they die without a living trust. If you have a Last Will and Testament or no written plan in [...]
posted: November 3, 2010
There are similarities between a Last Will and Testament and a Revocable Living Trust: 1. both pass along specific assets, 2. both name guardians, 3. both are written,signed and witnessed; 4. both can be amended and revoked. The differences between both are what sets them apart: A Last Will and Testament, appoints an Executor who [...]
posted: October 25, 2010
I often receive calls from individuals whom were told by the bank that they need to be appointed as the Executor or Administrator of an Estate before any financial information on the decedent is released; and they want to know what that means. What is an Executor? What is an Administrator? They have the same [...]
posted: October 13, 2010
It is hard to determine the length of time it will take to finalize a Probate or Administration in North Carolina. There are many determining factors. Just to name a few: 1. Where are the assets located? All with one institution or several? 2. How much time does the appointed Executor or Administrator have to [...]
posted: October 8, 2010
Probate is a legal procedure required by North Carolina Statutes to distribute the assets of a person who has died with a Last Will and Testament. If the person did not have a Last Will and Testament, then the procedure is called an Administration. It is filed in the county where the person resided at [...]
posted: September 9, 2010
One of the reasons why people choose to create a Revocable Living Trust versus a Last Will and Testament is because (if done properly) a Revocable Living Trust will avoid probate. The way a Revocable Living Trust avoids probate is by transferring certain assets into the Trust and retitling the owner as the name of [...]
posted: September 2, 2010
There are many considerations to be made when either appointing an Executor in a Will or obtaining an appointment as an Executor. There are many valid reasons why a named Executor in a Last Will and Testament may not want to accept the appointment. On the other hand, there are many reasons (both legal and [...]
posted: August 30, 2010
A portion of the following list is provided to you from the North Carolina Estate Settlement Guide. This is a checklist of what the Executor’s responsibilities are within the first month of being appointed. This is not to be considered legal advise and or a complete checklist of what is required of an Executor. It [...]
posted: July 28, 2010
For those of you who still aren’t convinced that avoiding Probate should be a priority, here is a link (http://tinyurl.com/probatefees) to the list of fees that the North Carolina Probate Court charges for various documents, filings and actions in a probate matter. By they way, some were just raised…again. When calculating fees, don’t forget to [...]
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