Should my spouse and I use a joint trust, separate wills, or a different plan now that our children are adults? – North Carolina Short Answer In North Carolina, many married couples with adult children can use either (1) a joint revocable trust, (2) two separate revocable trusts, or (3) separate wills (often with “pour-over”…
What’s the difference between putting my home in a life estate versus a trust, and can my existing deed or paperwork be changed if it uses the wrong language? – North Carolina Short Answer In North Carolina, a life estate deed and a trust can both control who gets a home after death, but they…
What happens if my trust still names my former spouse or has outdated beneficiary terms? – North Carolina Short Answer In North Carolina, a divorce can automatically change how a will is read if it still names a former spouse, but that automatic rule does not reliably fix a trust, account beneficiary form, or power…
How can I get an extra distribution from a trust when the trustee refuses to approve it? – North Carolina Short Answer In North Carolina, an “extra” trust distribution usually depends on what the trust document authorizes and how much discretion it gives the trustee. If the trustee refuses, the typical path is to (1)…
How can I make sure my estate plan reflects my family situation and avoids confusion later? – North Carolina Short Answer In North Carolina, the best way to make an estate plan match a real-life family situation is to (1) clearly name the decision-makers and beneficiaries, (2) coordinate the will with how assets are titled…
Can I take an investment or money market account out of my trust and put it back in my individual name, and what does that change? – North Carolina Short Answer Often, yes—if the trust is revocable and the account is titled in the name of the trustee, the account can usually be retitled back…
How do I get started creating a will and basic estate plan? – North Carolina Short Answer In North Carolina, getting started usually means (1) listing what is owned and who should receive it, (2) choosing the people who will carry out the plan, and (3) meeting with an estate planning attorney to draft and…
When does a trust dispute need to go to court, and what does it take to force a trustee to follow the trust terms? – North Carolina Short Answer In North Carolina, a trust dispute usually needs to go to court when a trustee refuses to follow the trust document, refuses to provide information, or…
What’s the difference between making a small change to a will and creating a brand-new will? – North Carolina Short Answer In North Carolina, a “small change” to a will is usually done with a codicil, which is a separate document that changes specific parts of an existing will. A “brand-new will” is a complete…
If I name my parent as my agent, what decisions can they make for my bank accounts and medical care? – North Carolina Short Answer In North Carolina, a parent named as agent under a financial power of attorney can handle only the money and property tasks the document authorizes (often including banking), while a…
