Do I need to name backup agents for my financial and healthcare powers of attorney? – North Carolina Short Answer North Carolina law does not require you to name backup (successor) agents, but it is strongly recommended for both financial and health care powers of attorney. If your chosen agent cannot serve and no successor…
Can I use a personal property memo to leave specific items to one child without rewriting my entire will? – North Carolina Short Answer Yes. North Carolina lets a will refer to a separate written list (often called a personal property memorandum) to give specific tangible personal items to named recipients without redoing the whole…
What happens if both of my co-executors are unable to serve and I haven’t named a backup executor? – North Carolina Short Answer In North Carolina, if all named executors cannot serve and no successor is named, the Clerk of Superior Court appoints an administrator c.t.a. (with the will attached) to carry out the will.…
How do I add pay-on-death beneficiaries to my bank and investment accounts? – North Carolina Short Answer In North Carolina, you add beneficiaries by completing your bank’s Payable on Death (POD) form and your brokerage’s Transfer on Death (TOD) registration for investment accounts. These designations pass the funds directly to your named beneficiaries at your…
How can I change who inherits my annuity after I get married? – North Carolina Short Answer In North Carolina, annuities pass to the person named on the beneficiary form, not under your will. Marriage does not automatically change that designation. To change who inherits, contact your annuity company and submit its change-of-beneficiary form; the…
How can I add my parent’s spouse to their property deed in North Carolina? – North Carolina Short Answer In North Carolina, you add a spouse to a deed by having the current owner sign and record a new deed that conveys the property from the owner to the owner and spouse together. The cleanest…
What steps do I need to take to prepare a will for my parent? – North Carolina Short Answer In North Carolina, your parent must sign a written will in the presence of two competent witnesses, who also sign in your parent’s presence. A notary is not required for a valid will, but adding a…
How will a Veterans Affairs benefits issue affect my parent’s probate and my inheritance? – North Carolina Short Answer In North Carolina, many Veterans Affairs (VA) benefits are paid directly to eligible survivors and do not pass through probate, so they do not change who inherits under a will. If the VA owes money to…
How can I transfer my property now so it passes directly to my grandchildren without probate? – North Carolina Short Answer In North Carolina, the two common ways to pass real estate to your grandchildren without probate are: (1) record a deed now that reserves a life estate for you and gives the remainder to…
What’s the best way to protect a minor grandchild’s inheritance from their parents until a specific age? – North Carolina Short Answer In North Carolina, the most reliable way is to leave the minor grandchild’s share in a trust, not outright. A revocable living trust funded now with the real estate lets you reserve a…