When creating an estate plan, it is important to select the right elements to meet your specific needs. One of those choices may be whether to use a will or a trust.In order to make the right choice for you, it is critical that you know what each offers. There are a...
Estate Planning
Selecting a will or a trust: Key factors
Creating a proper estate plan requires making intentional decisions, and in order to do so, one should be knowledgeable about the subject. In a previous blog, you learned about the differences between wills and trusts in an estate plan. Along with knowing the...
A new grandchild, changing tax laws and your estate plan
Perhaps you sat down with your attorney after your first child was born to develop a comprehensive estate plan. That was a good idea, but it was decades ago.Since then there have been many changes in your life. For example, now you are on your second marriage, you...
3 reasons to be proactive about estate planning after divorce
During and after a divorce, there are many things you must consider. Initially, your concerns lie in the formalities of the actual proceedings, such as dividing assets and debts and constructing a parenting plan. Once the dust settles, you can begin getting other...
Tips for taking that important first step to estate planning
No matter your age or your marital status, you should begin thinking about estate planning at some point in your life. Whether you work for a company, a nonprofit organization or have a business of your own, consider the benefits of preparing a will or documents such...
3 mistakes to avoid when choosing a life insurance beneficiary
A life insurance policy can be tremendously helpful for whomever you designate as a beneficiary. You may already know whom you want to name – perhaps a child or your spouse. However, naming a life insurance beneficiary should not be something you do...
What can you accomplish with an irrevocable living trust?
If you live in North Carolina and are beginning the process of estate planning and getting your plans for the future in order, you may be giving some thought to how you might best preserve your wealth for future generations. While there are a variety of methods you...
3 strategies to avoid the estate tax
If you have a sizeable estate, you may have concerns about a lot of it going toward taxes. You do not want your wealth going away through taxes instead of to your family, but you may assume it is impossible to avoid it if you have a multi-million dollar...
Who can serve as executor in North Carolina
Appointing the right executor is an important part of drawing up your will. He or she will play an essential role protecting your estate and ensuring distribution according to the terms of the will.North Carolina law sets forth several requirements a prospective...
You should include a funeral directive in your estate plans
If you are getting ready to make your estate plans in Charlotte, one aspect you might want to include in your provisions are funeral arrangement instructions. Though you have specific preferences for burial, your spouse and family members may have other ideas....