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…
What happens to a trust arrangement when the person who held power of attorney dies but the trust’s creator is still living? – North Carolina Short Answer In North Carolina, a power of attorney does not “transfer” to anyone when the agent (the person acting under the power of attorney) dies. That agent’s authority ends,…
If I moved from another state, do I need a new trust in my current state or can an existing plan be updated? – North Carolina Short Answer In North Carolina, moving from another state does not automatically mean a new trust is required. Many people can keep an existing revocable living trust and update…
Do I need to name a backup agent on my power of attorney, and what happens if I don’t? – North Carolina Short Answer No. North Carolina law does not require naming a backup (successor) agent on either a financial power of attorney or a health care power of attorney. But if the only named…
How do we set up a power of attorney if my adult child is in the hospital right now? – North Carolina Short Answer In North Carolina, a hospitalized adult can usually sign a power of attorney as long as they still have the ability to understand what they are signing and communicate that choice.…
How do I know whether I need a will, probate help, or both? – North Carolina Short Answer In North Carolina, a will is a planning document made during life, while probate is the court-supervised process used after death to transfer assets, pay valid debts, and close an estate. A will is usually needed when…
How do I confirm that my will has actually been filed and accepted? – North Carolina Short Answer In North Carolina, a will is usually not “filed and accepted” with the court while the person is alive. Most wills are kept by the person (or the drafting attorney) and are only filed with the Clerk…
Does my adult child have to be able to understand and sign the power of attorney for it to be valid? – North Carolina Short Answer Yes. In North Carolina, a power of attorney generally must be signed by the person giving the authority (the “principal”) while that person still has the mental capacity to…
How are my children notified about what they do or don’t inherit if there isn’t a formal “reading of the will”? – North Carolina Short Answer In North Carolina, there usually is no formal “reading of the will.” Instead, once the will is filed and admitted to probate, the estate is handled through the Clerk…
