How can we protect a parent’s home while they’re in a nursing facility and receiving needs-based benefits? – NC Short Answer In North Carolina, a parent’s home may remain an exempt resource for eligibility purposes in some long-term care cases, but that does not mean the home is automatically protected from transfer penalties or Medicaid…
How can I make sure my property is handled by the person I choose instead of being left to the court process? – NC Short Answer In North Carolina, the usual way to put the right person in charge is to sign updated estate planning documents before a crisis happens. A current will lets a…
Can a living trust for our home help the surviving spouse avoid probate and make things easier later? – NC Short Answer Yes. In North Carolina, a properly signed and funded revocable living trust can help a surviving spouse avoid probate for a home that is actually titled in the trust, which can make later…
What is the difference between a revocable trust and an irrevocable trust for life insurance planning? – NC Short Answer In North Carolina, the main difference is control. A revocable trust usually lets the person who created it keep the power to change or cancel the trust, while an irrevocable trust is generally meant to…
What’s the difference between a durable power of attorney and a healthcare power of attorney? – NC Short Answer In North Carolina, a durable power of attorney usually covers financial and legal matters, while a healthcare power of attorney covers medical and personal care decisions. The two documents do different jobs, and many estate plans…
Can I have both a revocable trust and a will as part of my estate plan? – NC Short Answer Yes. In North Carolina, a revocable trust and a will often work together in the same estate plan. The trust can hold and manage property during life and after death, while the will can name…
What is included in a basic estate plan for someone with a house, a car, and everyday assets? – NC Short Answer In North Carolina, a basic estate plan for someone with a house, a car, and everyday assets usually includes a will, a durable financial power of attorney, a health care power of attorney,…
Can I reopen a trust account after it has already been closed? – NC Short Answer Usually, North Carolina law does not give a simple legal right to reopen a trust bank account once the bank has already closed it. In most cases, the practical answer depends on the bank’s internal rules and whether the…
How do I update an old will and name my adult child as executor? – NC Short Answer In North Carolina, an older will can usually be updated either by signing a new will or, in some situations, by using a codicil. If the goal is to change who will serve as executor, many people…
If we sign our wills remotely, what steps are required to make them valid? – NC Short Answer In North Carolina, a will signed remotely can be valid only if the will still meets the state’s normal will-signing rules. That usually means the will must be in writing, the person making the will must sign…
