Do I need separate forms for financial decisions and medical decisions under power of attorney? – North Carolina Short Answer Yes. In North Carolina, you typically use two separate documents: a durable power of attorney for finances (under Chapter 32C) and a health care power of attorney (under Chapter 32A). The financial power of attorney…
What documents do I need to set up a durable power of attorney for my aunt? – North Carolina Short Answer In North Carolina, you typically need two documents: (1) a General Durable Power of Attorney for finances, and (2) a Health Care Power of Attorney for medical decisions. The financial power must be signed…
How do I update my existing will to include a trust for life insurance distributions? – North Carolina Short Answer In North Carolina, you can add a life-insurance trust to your estate plan either by signing a new will that includes a testamentary trust or by signing a codicil that amends your current will. Because…
Can I appoint my brothers as trustees to manage life insurance proceeds under my will? – North Carolina Short Answer Yes. In North Carolina you can name your brothers as co-trustees in a will-based (testamentary) trust to receive and manage life insurance proceeds. The policy’s beneficiary designation controls, so you must name either your estate…
How can I structure my life insurance so my brothers pay debts before my kids get anything? – North Carolina Short Answer In North Carolina, you can route life insurance through your estate or a revocable trust so debts and expenses are paid before your children receive the remainder. The cleanest options are: (1) name…
Which properties should go into our trust and which should remain separate? – North Carolina Short Answer In North Carolina, real estate and other assets you want to avoid probate must be retitled into your revocable trust before death. Property already set to pass automatically—like a home owned by spouses with rights of survivorship or…
How do I include provisions for guardianship of my minor child in our estate plan? – North Carolina Short Answer In North Carolina, you nominate a guardian for your minor child in your will. The Clerk of Superior Court gives substantial weight to your nomination but appoints a guardian only if there is no natural…
How can I set up a joint revocable trust to keep our homes out of probate? – North Carolina Short Answer In North Carolina, you keep homes out of probate by creating a revocable living trust and retitling each property into the name of your trustee before death. A joint revocable trust can hold a…
What is the process for preparing a new will when altering beneficiaries? – North Carolina Short Answer In North Carolina, the cleanest way to change who inherits is to sign a new will that expressly revokes all prior wills. You must have capacity and follow North Carolina’s execution rules: sign the will in the presence…
How does putting my primary residence into a trust help my child if we move abroad? – North Carolina Short Answer In North Carolina, titling your home in a properly funded revocable living trust lets a successor trustee transfer or sell the property without going through probate. If you later live abroad and die as…