What happens if an elderly family member with dementia may not have the mental capacity to sign a new will or trust? – North Carolina Short Answer In North Carolina, a person with dementia can sign a new will or trust only if they still have the required mental capacity at the time they sign.…
If my sibling already has a healthcare power of attorney through a veterans program, do we still need a separate medical power of attorney or just the financial one? – North Carolina Short Answer In North Carolina, a valid health care power of attorney (even one signed through a veterans program) can cover medical decision-making,…
What happens if a trustee or beneficiary claims I’m supposed to account for past gifts or spending before anyone gets their share? – North Carolina Short Answer In North Carolina, whether someone can force an “accounting” of past gifts or spending depends on the legal role involved and the type of property at issue. A…
How can I update my beneficiary designations to match my overall estate plan? – North Carolina Short Answer In North Carolina, beneficiary designations on accounts and certain assets usually control who receives those assets at death, even if a will says something different. Updating them typically means contacting each financial institution or plan administrator, completing…
What happens to my assets if I do not create an estate plan, and who makes decisions if I become incapacitated? – North Carolina Short Answer In North Carolina, if no estate plan exists, assets that are owned in an individual name generally pass under the state’s “intestacy” rules, and the Clerk of Superior Court…
What’s the difference between naming someone in a power of attorney and naming them as a beneficiary? – North Carolina Short Answer In North Carolina, a power of attorney names an “agent” who can act for someone during that person’s lifetime (for example, to pay bills or manage accounts), and the agent’s authority generally ends…
What happens to the house a parent’s will leaves to my relative if the parent dies first versus if my relative dies first? – North Carolina Short Answer In North Carolina, a gift in a will generally goes to the named person only if that person survives the will-maker (and typically survives by at least…
What happens if my power of attorney and my beneficiary choices seem to conflict? – North Carolina Short Answer In North Carolina, a power of attorney generally controls what an agent can do while the principal is alive, while beneficiary designations generally control who receives certain assets at death. If the documents seem to point…
What happens to my assets if I only have a will—will my family have to go through probate? – North Carolina Short Answer In North Carolina, having a will usually means the estate still goes through probate for any assets that are titled in the deceased person’s name alone and do not have a built-in…
Can I revoke my current power of attorney and create a new one without issues with banks or doctors? – North Carolina Short Answer Yes. In North Carolina, a person can revoke a prior power of attorney and sign a new one, but banks and health care providers can keep relying on the old document…
