How can I leave one home to one child and a different home to another child using a revocable trust? – North Carolina Short Answer In North Carolina, a revocable trust can leave specific real estate to different children by (1) transferring each home into the trust during life and (2) writing clear “specific gift”…
What is the process for finalizing changes to a will, including the signing requirements? – North Carolina Short Answer In North Carolina, changes to a will are usually finalized by signing either (1) a new will that replaces the old one or (2) a codicil (an amendment) that changes only specific parts. For a standard…
How can we avoid probate for our home, retirement accounts, and other assets? – North Carolina Short Answer In North Carolina, probate is usually avoided by making sure assets have a built-in transfer method that works at death: a properly funded revocable living trust, beneficiary designations on retirement and financial accounts, and (where appropriate) joint…
Will transferring a house with a home equity line of credit into a trust trigger a due-on-sale clause or other lender problems? – North Carolina Short Answer Usually, transferring a North Carolina primary residence into the homeowner’s own revocable living trust does not trigger a due-on-sale clause under federal law, as long as the borrower…
How do I put my home into a revocable living trust, and what documents are usually needed to make it effective? – North Carolina Short Answer In North Carolina, a home usually gets into a revocable living trust by signing a new deed that transfers the property from the current owner’s individual name to the…
What happens if we have another child after we sign our wills—do we need to update them right away? – North Carolina Short Answer In North Carolina, having another child after signing a will usually does not revoke the will. But an after-born (or after-adopted) child may still have a legal right to receive an…
Can my will reduce one child’s inheritance to account for money they already took while I’m still alive? – North Carolina Short Answer Yes. In North Carolina, a will can be written to reduce (or offset) a child’s share to account for money or property that child already received during the parent’s lifetime. The safest…
What happens if a deceased spouse is still listed on the deed when I’m trying to move the property into a trust? – North Carolina Short Answer In North Carolina, a house generally cannot be deeded into a revocable living trust until the living owner has clear authority to sign the deed. If a deceased…
If my will leaves the house to my children, does the house still have to go through probate if it’s only in my name? – North Carolina Short Answer Usually, yes. In North Carolina, if a house is titled only in the owner’s name at death, the will generally must be probated so the will…
What happens to our children’s inheritance if we only have wills and our kids are still minors when we die? – North Carolina Short Answer In North Carolina, minor children generally cannot receive and control an inheritance outright. If a will leaves assets directly to a minor, the inheritance usually has to be managed by…
