Wealth Transfer Strategies to Consider in an Election Year With a push by the Democratic party to return federal estate taxes to their historic norms, taxpayers need to act now before Congress passes legislation that could adversely impact their estates. Currently, the federal estate and gift tax exemption is set at $11.58 million per taxpayer.…
Most people understand that having some sort of an estate plan is a good thing. However, many of us do not take the first steps to get that estate plan in place because we do not understand the nuances between a will and trust – and dying without either. Here is what will generally happen…
Buyer Beware: How to Avoid Estate Planning Scams Imagine spending thousands of dollars on an estate plan to protect loved ones, only to find that no true protection exists. Unfortunately, this scenario happens on a regular basis to individuals who are victims of estate planning schemes. According to a report conducted by the U.S. Consumer…
Wills vs. Trusts: A Quick & Simple Reference Guide When you plan your estate in North Carolina, you’ll encounter two main tools: a will and a trust. Each serves a different purpose. Knowing their features helps you decide which fits your family’s needs. 1. Detailed Answer: How Wills and Trusts Work Under North Carolina Law…
Three Reasons Why People Run the Other Way Why Serving as Personal Representative Can Feel Overwhelming Serving as a personal representative, often called an executor, triggers many legal duties under North Carolina law. If you face this responsibility, here are three common reasons people hesitate to step forward. 1. The Process Can Get Complex and…
Seven Ways to Avoid Family Fights over Your Property Understanding Why Property Plans Lead to Disputes When someone passes away, unanswered questions about who gets what can spark conflict. In North Carolina, probate law governs how property transfers after death. Without clear instructions, heirs may disagree over the estate administrator’s decisions, the value of assets…
Help! I’ve Been Named as a Guardian. What Do I Do? 1. Understanding Your Role and Initial Steps When a court names you as a guardian in North Carolina, you gain both authority and responsibility to care for someone who cannot make decisions on their own—either a minor or an adult with impaired capacity. North…
Planning for Stepchildren and Grandchildren in North Carolina Detailed Answer North Carolina law does not automatically give stepchildren or grandchildren a share of an estate. If someone dies without a valid will, the state follows intestate succession rules in N.C. Gen. Stat. § 29-14. These laws name blood relatives—spouse, children, parents, siblings, and more ahead…
Picking the Right Team for Probate in North Carolina 1. Detailed Answer Navigating probate in North Carolina requires more than legal filings. It demands a strong support network. Selecting the right professionals helps you manage each step with confidence. At Pierce Law Group, we guide you through these decisions so you protect your loved one’s…
Can or Should I Hand Write My Will? Detailed Answer In North Carolina, you can write your own will by hand. The law recognizes a handwritten, or “holographic,” will if you meet certain requirements. According to N.C. Gen. Stat. § 31-2.2, a holographic will must be entirely in your own handwriting and signed by you.…