Do I need to retitle my assets into the trust again after moving to a new state? – North Carolina Short Answer Usually, no. If assets were properly titled in the name of the trustee of the trust before the move, they generally stay trust-owned after relocating to North Carolina. The bigger issue is confirming…
What happens if we wait to do estate planning and the person’s memory gets worse? – North Carolina Short Answer In North Carolina, waiting can turn a straightforward estate plan into a much harder (and sometimes impossible) project if the person’s memory declines to the point that they no longer have legal capacity to sign…
What happens if my trust was created in another state but my successor trustee and beneficiaries now live in my new state? – North Carolina Short Answer In North Carolina, a revocable trust created in another state can usually continue to work after a move, but the trust’s day-to-day administration may shift to North Carolina…
How can I make sure my trustee powers and successor trustee provisions still work under my new state’s laws? – North Carolina Short Answer When a trust created in another state is administered after a move to North Carolina, the safest way to keep trustee powers and successor trustee provisions working is to (1) confirm…
What happens to my trust’s terms and administration rules when I change states? – North Carolina Short Answer In most cases, moving to North Carolina does not automatically change the written terms of an existing trust. However, the day-to-day administration rules (how the trustee gives notices, invests, accounts, and handles trustee changes) can shift depending…
What happens if my parent can’t sign a power of attorney—what are the alternatives? – North Carolina Short Answer In North Carolina, a power of attorney generally requires the parent (the “principal”) to sign and have the document properly notarized. If a parent cannot sign because of incapacity or because they cannot physically complete a…
Can a relative help set up an irrevocable trust and a will if the person has trouble remembering details? – North Carolina Short Answer Yes, a relative can help gather information and coordinate meetings, but in North Carolina the person signing the will or irrevocable trust generally must understand what is being signed and must…
Can I create and fund a special needs trust with my own money, or does someone else have to fund it for me? – North Carolina Short Answer In North Carolina, a person who receives disability benefits can sometimes use their own money to fund a special needs trust, but it usually cannot be a…
What other trust or asset-protection options can I use to keep my benefits if a special needs trust isn’t allowed in my situation? – North Carolina Short Answer In North Carolina, if a traditional special needs trust is not available, other options may still help protect Medicaid eligibility, depending on the type of benefit and…
How does forming an LLC affect my personal estate plan and what I should put in a trust? – North Carolina Short Answer In North Carolina, forming an LLC usually does not replace a will or trust—it changes what is owned (an LLC membership interest instead of the underlying business assets) and how that ownership…