Should I ask the prior firm for a digital copy of my estate plan, or can a new firm proceed without it? – North Carolina Short Answer In North Carolina, a new firm can prepare a complete, valid estate plan without the prior documents. Still, asking the prior firm for digital copies is wise because…
Do I need to redo my powers of attorney and healthcare directives when I update my will? – North Carolina Short Answer In North Carolina, updating a will does not change or revoke a financial power of attorney, a health care power of attorney, or a living will. Those documents stand on their own and…
What information and documents should I gather before meeting to revise my estate plan? – North Carolina Short Answer In North Carolina, bring any prior estate planning documents (will, codicils, trusts, powers of attorney, health care directives), asset and beneficiary paperwork, key family and fiduciary details, and court orders like divorce judgments. A properly executed…
Should we choose a revocable or irrevocable trust, and how do taxes and probate avoidance factor into that choice? – North Carolina Short Answer In North Carolina, a revocable living trust is typically chosen to avoid probate and keep administration private while the creator keeps full control; its assets remain reachable by the creator’s creditors…
What are the most important documents to start with now, and can I add others later? – North Carolina Short Answer In North Carolina, the core estate planning documents to start with are: a Last Will and Testament, a Durable (financial) Power of Attorney, a Health Care Power of Attorney, and an Advance Directive (living…
Will a power of attorney I sign locally still work when my agent is living in another state? – North Carolina Short Answer Yes. Under North Carolina law, a properly signed and notarized financial power of attorney is valid even if the agent lives in another state. Third parties generally must accept an acknowledged North…
How can I ensure my mirror will leaves assets to my spouse and then to my child? – North Carolina Short Answer In North Carolina, use two separate, properly executed wills that give everything to the surviving spouse (if the spouse survives by at least 120 hours) and then to the child as the alternate…
What steps do I need to take to recover money that was improperly spent from the trust? – North Carolina Short Answer Under North Carolina law, a beneficiary can demand an accounting, seek court orders to stop misuse, and ask the court to force the trustee to restore losses (a “surcharge”) or return property. File…
What duties does a trustee have in an educational trust and how are they enforced? – North Carolina Short Answer In North Carolina, a trustee of an educational trust must act in good faith, stay loyal to all beneficiaries, invest and manage prudently, keep beneficiaries reasonably informed, and follow the trust’s terms—even when distributions are…
How can I get legal authority to make medical and financial decisions for my parent with dementia? – North Carolina Short Answer In North Carolina, there are two main paths. If the parent still has capacity, the parent can sign a durable financial power of attorney and a health care power of attorney (plus HIPAA…