Can I choose who will make decisions for me under a power of attorney? – NC Short Answer Yes. Under North Carolina law, the person creating a power of attorney generally chooses who will act as the agent and can also name backup agents. The document can give broad or limited authority, and for health…
What information do my parents need to have ready to create power of attorney documents? – NC Short Answer In North Carolina, parents usually need to gather basic identifying information, choose the right agents, and decide what authority those agents should have before signing power of attorney documents. For most families, that means preparing for…
Can I say no to a beneficiary’s repeated demands if I am trying to follow the trust and my parent’s wishes? – NC Short Answer Yes. In North Carolina, a trustee does not have to follow a beneficiary’s repeated demands if those demands conflict with the trust terms, the trustee’s fiduciary duties, or the settlor’s…
What happens if the person in charge of a trust needs to be replaced? – NC Short Answer In North Carolina, the person in charge of a trust, usually the trustee, can be replaced if the trust document allows it or if a court removes the trustee. Common reasons include incapacity, resignation, death, refusal to…
Can I put my life insurance policy into a trust and still keep control over it? – NC Short Answer Yes, a life insurance policy can be placed into a trust in North Carolina, but the amount of control that can be kept depends on the kind of trust and the powers retained. A revocable…
What should I look for when I review a will provision about storing or keeping property? – NC Short Answer In North Carolina, a will provision about storing or keeping property usually gives the executor or trustee temporary authority to hold, protect, and manage property before final distribution. The main points to review are who…
Can I put my life insurance policy into a trust, and what does that actually change? – NC Short Answer Yes. In North Carolina, a life insurance policy can usually be owned by a trust or made payable to a trust, but the legal effect depends on whether the trust is revocable or irrevocable and…
How do I set up a power of attorney for an elderly family member when we live in a different state than the address on file? – NC Short Answer In North Carolina, an elderly adult can usually sign a separate financial power of attorney even if a family member lives in another state or…
How can my grandparent leave a home and vehicles to me while avoiding probate? – NC Short Answer In North Carolina, the usual way to keep a home and vehicles out of probate is to place them into a properly funded revocable living trust during the grandparent’s lifetime, then back that plan up with a…
What documents do I need to provide to get my trust updated to include the new property? – NC Short Answer In North Carolina, adding newly purchased real property to an existing trust usually requires more than changing the trust papers alone. The key document is usually a new deed that transfers the property to…
