What happens if I leave the car outside the trust—does it still avoid probate or create problems for my estate plan? – North Carolina Short Answer In North Carolina, a car left outside a living trust usually does not avoid probate just because a trust exists. If the car is titled only in an individual…
How do beneficiary designations on bank accounts, retirement plans, and life insurance work with a will or trust? – North Carolina Short Answer In North Carolina, most assets with a valid beneficiary designation (like POD bank accounts, retirement plans, and life insurance) transfer directly to the named beneficiary when the owner dies. Those transfers usually…
What happens if we transfer the house but need Medicaid before the lookback period ends? – North Carolina Short Answer In North Carolina, transferring a house for less than fair market value and then applying for long-term care Medicaid before the lookback period ends can trigger a penalty period. During the penalty period, Medicaid will…
If I later marry and want to change who inherits, what is the best way to update my will and beneficiary designations? – North Carolina Short Answer In North Carolina, the cleanest way to change who inherits after marriage is usually to sign a new will (rather than hand-editing the old one) and then separately…
When does the power of attorney take effect and how do we use it with banks or healthcare providers afterward? – North Carolina Short Answer In North Carolina, a financial power of attorney usually takes effect as soon as it is properly signed and notarized, unless it is written to “spring” into effect later (typically…
Will a parent’s hearing or speech difficulties prevent them from signing a new power of attorney if they understand what it means? – North Carolina Short Answer No. In North Carolina, hearing or speech difficulties do not automatically prevent someone from signing a new financial power of attorney. The key issue is capacity: the parent…
How can I activate a springing power of attorney if I don’t have a medical letter confirming incapacity? – North Carolina Short Answer In North Carolina, a springing (delayed) financial power of attorney becomes usable only after the document’s stated “trigger” happens—usually a written finding of incapacity by a physician or other person specifically named…
Will using a lady bird deed affect Medicaid eligibility or long-term care planning? – North Carolina Short Answer In North Carolina, a “lady bird deed” (often called an enhanced life estate deed) can affect Medicaid planning because it changes who owns what interest in the home while the owner is alive and what passes at…
Can I sign a financial power of attorney on my parent’s behalf if my parent is present but has difficulty speaking? – North Carolina Short Answer Usually no—at the moment of signing, a North Carolina financial power of attorney should be signed by the parent (the “principal”), not by the family member who hopes to…
How do I set up a financial power of attorney for my spouse to handle buying and selling cars and other property? – North Carolina Short Answer In North Carolina, a financial (general) power of attorney is a written document where one spouse (the “principal”) names the other spouse (the “agent”) to handle non-medical money…