What happens if a trustee gives incomplete financial information and the beneficiary cannot tell how the trust is being managed? – NC Short Answer In North Carolina, a trustee generally must keep beneficiaries reasonably informed and provide enough financial information for the beneficiary to understand how the trust is being administered. If the trustee gives…
How do I set up a trust to receive my life insurance payout and hold my home and land? – NC Short Answer In North Carolina, a trust can be set up to receive life insurance proceeds and to hold a home and land, but the trust must be properly drafted and then properly funded.…
Do I need an assignment of personal property to make sure anything I forgot still ends up in my trust? – NC Short Answer Usually, yes. In North Carolina, an assignment of personal property is a common trust-funding document that helps move general personal property into a revocable trust, especially items that do not have…
How do I find an attorney who can prepare an emergency will on short notice? – NC Short Answer In North Carolina, the fastest way to find an attorney for an emergency will is to contact an estate planning attorney and clearly state that the person is hospitalized, needs a will prepared immediately, and may…
Can I use my will to nominate a guardian for a minor child, and does the court still have to approve that choice? – NC Short Answer Yes. Under North Carolina law, a parent may use a will to recommend a guardian for a minor child. But that nomination does not automatically control the result.…
If the minor child lives in a different state than I do, where does the guardianship case have to be filed first and can it be transferred later? – NC Short Answer In North Carolina, a guardianship case for a minor is usually filed in the county where the minor resides or is domiciled, not…
Can I put something in my will requiring a guardian to allow the child to stay in contact with the child’s immediate family? – NC Short Answer Usually not as a binding command. In North Carolina, a parent can use a will to recommend who should serve as guardian for a minor child, and that…
Can I choose one person as my main agent and another person as a backup for medical and financial decisions? – NC Short Answer Yes. In North Carolina, a person making a health care power of attorney can name one primary agent and one or more successors, and a financial power of attorney can also…
How do I transfer a special needs trust from one management company to another? – NC Short Answer In North Carolina, moving a special needs trust from one management company to another usually depends on the trust’s own terms and the type of trust involved. Many transfers happen by reviewing the current trust, confirming whether…
Should I use a quitclaim deed or a warranty deed to move my home into my trust? – NC Short Answer In North Carolina, a deed moving a home into a revocable trust is usually handled as a no-sale transfer, and many estate-planning attorneys prefer a deed that clearly matches the owner’s existing title and…
