How can I ensure my mirror will leaves assets to my spouse and then to my child? – North Carolina Short Answer In North Carolina, use two separate, properly executed wills that give everything to the surviving spouse (if the spouse survives by at least 120 hours) and then to the child as the alternate…
What steps do I need to take to recover money that was improperly spent from the trust? – North Carolina Short Answer Under North Carolina law, a beneficiary can demand an accounting, seek court orders to stop misuse, and ask the court to force the trustee to restore losses (a “surcharge”) or return property. File…
What duties does a trustee have in an educational trust and how are they enforced? – North Carolina Short Answer In North Carolina, a trustee of an educational trust must act in good faith, stay loyal to all beneficiaries, invest and manage prudently, keep beneficiaries reasonably informed, and follow the trust’s terms—even when distributions are…
How can I get legal authority to make medical and financial decisions for my parent with dementia? – North Carolina Short Answer In North Carolina, there are two main paths. If the parent still has capacity, the parent can sign a durable financial power of attorney and a health care power of attorney (plus HIPAA…
Can I help my parent draft a will if early dementia symptoms affect their decision-making? – North Carolina Short Answer In North Carolina, only the parent can make a will, and they must have testamentary capacity at the moment of signing. A child may coordinate logistics (scheduling, transportation), but should not direct the terms, select…
How do I establish and fund a trust to protect my parent’s assets as their condition worsens? – North Carolina Short Answer In North Carolina, if the parent still has legal capacity, the parent can sign a revocable living trust, a durable financial power of attorney, health care directives, and a pour-over will, then fund…
What should I do if my parent can’t legally sign estate planning documents due to impaired capacity? – North Carolina Short Answer In North Carolina, first confirm whether the parent still has the specific capacity needed for each document. If capacity is adequate (even during a lucid period), a will, revocable trust, or powers of…
How can I put our paid-off house and land into a revocable trust and still sell them later? – North Carolina Short Answer In North Carolina, a married couple can deed a paid-off home and land into a revocable living trust by signing and recording a new deed that transfers title from the owners to…
How do powers of attorney and beneficiary designations work alongside a trust? – North Carolina Short Answer In North Carolina, a revocable living trust, well-drafted powers of attorney, and up-to-date beneficiary designations should be coordinated so assets pass outside probate and the plan functions during incapacity. Beneficiary forms and joint/TOD/POD registrations control those specific assets…
Will a revocable trust shield our assets from business lawsuits or personal creditors like student loans? – North Carolina Short Answer No. Under North Carolina law, a revocable living trust does not protect the creator’s assets from personal or business creditors while living, and those assets can also be used to pay valid debts after…