How should we set up beneficiaries on our retirement accounts so they avoid probate and still match our will plans? – North Carolina Short Answer In North Carolina, retirement accounts avoid probate when they have valid beneficiary or transfer-on-death designations on file with the plan provider; those designations control over the will. To keep things…
What’s the best order for naming primary and backup executors and agents for financial and health care powers of attorney? – North Carolina Short Answer Under North Carolina law, spouses commonly name each other first as executor, financial agent, and health care agent, then list one or more trusted relatives as backups in a clear…
Can a married couple name different executors in each will, and how would that work if one spouse dies while an estate is being handled? – North Carolina Short Answer Under North Carolina law, a married couple may name different executors in their separate wills, and those choices stand on their own. If one spouse…
Is it better to name healthcare agents in a sequence rather than requiring joint decisions, and how many backups should we include? – North Carolina Short Answer Under North Carolina law, healthcare agents may be named to act either together or one at a time in a stated order. In practice, it is usually smoother…
How can I get started with an estate plan and which documents do I actually need, like a will, trust, power of attorney, and health care directives? – North Carolina Short Answer In North Carolina, most adults start an estate plan with four core documents: a will, a financial power of attorney, a health care…
Can I make my power of attorney effective only if I’m incapacitated, or should it be effective immediately? – North Carolina Short Answer Under North Carolina law, a financial power of attorney can be drafted to become effective immediately or to “spring” into effect only if the principal becomes incapacitated. A health care power of…
What happens if I don’t have a will, and how would my property be handled in that case? – North Carolina Short Answer In North Carolina, if a person dies without a will, state “intestate succession” laws decide who receives that person’s probate property. The clerk of superior court oversees the estate, appoints a personal…
How often should I review and update my estate plan, and what life events should prompt changes? – North Carolina Short Answer In North Carolina, most estate planning attorneys recommend reviewing an estate plan at least every three to five years, and sooner if there is a major life change. Key triggers include marriage or…
Can I set up my estate plan to avoid probate and make things easier for my family or beneficiaries? – North Carolina Short Answer Under North Carolina law, an estate plan can greatly reduce, and sometimes avoid, formal probate by using tools like a revocable living trust, beneficiary designations, payable-on-death and transfer-on-death registrations, and joint…
Can I set up my estate plan to avoid probate and make things easier for my family or beneficiaries? – North Carolina Short Answer Under North Carolina law, an estate plan can substantially reduce, and in many cases largely avoid, probate by using tools like revocable living trusts, beneficiary designations, payable-on-death and transfer-on-death registrations, and…
