Even if you have an up-to-date Will and organize everything so your Executor has a clear map of your estate, they can still have a long to-do list. Keep reading to get a full picture of an Executor’s to-do list.
Read More
I've said it before, and I'll repeat it here: if you insist that you don't need POAs or refuse to include POAs in your estate plan, I'm not (going to be) your attorney.
Powers of Attorney (POAs for short) are estate plan documents that only apply during your lifetime. They give your named person(s) instructions and the legal authority to do certain things for you during your life and at the very end of your life. The two main types of POAs are the health care POA and the durable general POA. And, they are important no matter what and they are essential if you become incapacitated or incompetent.
Read More
Can a Trust protect your identity? Let's say you win the lottery. Or you're a celebrity or have a high-profile job (like a politician, a judge, and/or a law enforcement officer). Perhaps you've got a lot of debt. Or maybe you're just a really private person. Whatever the reason, you want to disconnect your name from property that you own. So, can a Trust help you do that? The quick answer is probably not. Keep reading. The longer answer involves three primary considerations.
Read More
FAQ: Is adding my adult children to my bank account(s) a good idea for estate planning?
Many clients wonder what to do about bank accounts for estate planning purposes. There are three (or four, see below) main options to consider:
Do nothing;
Designate a beneficiary for your bank account(s);
Add someone(s) else as owner(s) of your bank account(s); or
If you have a Revocable Living Trust, retitle the bank account(s) in the Trust's name.
The best option(s) for you may not be the best option for another person. And it might not be what your friend or family member did (or told you to do). Each option has pros and cons, and I always encourage clients to consider which option(s) meet their goals best. Keep reading for the basics on each option, along with some points of consideration.
Read More
Q: What makes a Will legal?
A: North Carolina allows for three kinds of Wills and what makes each legal varies based on the type.
Keep reading for more info.
Read More
Do you want to ensure your minor children receive your life insurance proceeds if you die while they are young? Not confident about what to put on that beneficiary designation form? Technically, you have five options to consider. But in reality, only three of them function in ways that make sense when thinking about what your children will need if you’ve died and they are still young.
Read More
Fact: Chadwick Boseman died without a Will. And he’s not alone in this. Research shows that nearly 70% of adults in the United States don’t have Wills. So, what happens if you die without a Will? In a nutshell: the laws of your state take over. What does that mean? Keep reading…
Read More
FAQ: What happens to debt at death?
If you die with debt, those debts generally become the responsibility of your estate. Keep reading for all the info.
Read More
FAQs about Revocable Living Trusts: What is a trust? What is a revocable living trust? What are the PROs of having a revocable living trust? What are some MYTHS about revocable living trusts? What are the CONS of having a revocable living trust?
Read More
Legal information versus legal advice: what’s the difference? And, why does it matter?
Read More
Considering buying your Will online? Here are four key reasons to proceed with caution.
Read More
QUESTION: Single people don't need wills, right?
ANSWER: It depends on what you want to happen to your property when you die AND what types of property you own at your death.
Read More