What kind of trust can protect money from a personal injury case for someone with special needs? – NC Short Answer In North Carolina, money from a personal injury settlement that belongs to a person with disabilities is often placed in a first-party special needs trust, usually called a self-settled special needs trust, or in…
How do I set up a special needs trust for money from a personal injury settlement? – NC Short Answer In North Carolina, money from a personal injury settlement can often go into a first-party special needs trust if the injured person is disabled and the trust is drafted and funded in a way that…
Should I use a power of attorney instead of transferring the deed into my name if I am only helping sell the property? – NC Short Answer Usually, yes. In North Carolina, a properly drafted power of attorney can let an agent handle many parts of a real estate sale for the owner without transferring…
Do all people listed on a deed have to sign before a property can be sold? – NC Short Answer Usually, no one person can sell the entire property unless every current owner whose interest is being sold signs the deed or is validly represented by an authorized agent. In North Carolina, a co-owner can…
How do I get authority to talk to real estate agents and handle the sale of a family property for my parent? – NC Short Answer In North Carolina, the usual way to handle a parent’s side of a real estate sale is a valid power of attorney that clearly gives authority over real property.…
What do I need to do if I am deciding what to do with a house that is part of a trust? – NC Short Answer In North Carolina, the first step is to confirm whether the house is actually titled in the trust and then review the trust terms to see who has authority…
Can I make a payment related to a trust matter before I speak with the attorney? – NC Short Answer Usually, no immediate payment is required before an initial conversation about a North Carolina trust matter. In many trust administration cases, whether any fee should be paid personally, advanced by a trustee, or paid from…
Can I put my trust distribution request in writing to make clear that I want the withdrawal handled only through the trust and not through side payments? – NC Short Answer Yes. In North Carolina, a beneficiary can make a trust distribution request in writing and state that any approved payment should be made only…
Can I require that money I receive come directly from the trust instead of a trustee’s personal funds? – NC Short Answer Usually, yes. In North Carolina, a trustee is supposed to make trust distributions as part of trust administration, keep trust property separate from personal property, and maintain records that clearly show what came…
Do I have a right to withdraw money that was transferred into my trust if I was not properly notified? – NC Short Answer Usually not automatically. In North Carolina, a beneficiary can withdraw money transferred into an irrevocable trust only if the trust instrument gives that beneficiary a present withdrawal right, and that right…
