What Steps Should I Take When Drafting a Will and Trust in North Carolina?

1. Detailed Answer

Drafting a will and trust helps you control how your estate distributes after you pass away. In North Carolina, you follow clear statutory rules to make these documents valid. A will lets you name a personal representative and set how assets pass at death. A trust can move assets outside probate and manage them during your life and after.

Follow these steps to draft a will and trust that meet North Carolina requirements:

• Identify your assets. Create a list of real estate, bank accounts, investments, life insurance policies and personal property. Knowing what you own helps you decide which assets go in the will and which you fund into a trust.
• Choose fiduciaries. For a will, name a personal representative to handle probate. For a trust, choose a trustee to manage trust property. Select backups in case your first choices cannot serve.
• Decide on beneficiaries. Clearly state who receives specific gifts or percentages of your estate. For a revocable trust, describe how and when trust assets distribute to beneficiaries.
• Draft the will. In North Carolina, a will must be in writing, signed by the testator and witnessed by two adults who witness the signing or the testator’s acknowledgment. See North Carolina General Statutes § 31-2.1 for formalities: https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_31/GS_31-2.1.html
• Draft the trust agreement. Under the North Carolina Uniform Trust Code, you create a trust when the settlor manifests intent, the trust has definite beneficiaries (or is charitable), and the trustee has duties. Review Chapter 36C, Article 2 (§Â 36C-2-201) for methods of creating a trust: https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_36C/GS_36C-2-201.html
• Fund the trust. To make a trust effective, transfer assets into its name. Change titles on real estate, bank accounts and investment accounts so the trust owns them.
• Sign and notarize. Sign the will with two witnesses. Sign the trust agreement and have it notarized to ensure banks and other institutions accept it.
• Store documents securely. Keep the original will and trust agreement in a fireproof lockbox or with your attorney. Tell your personal representative and trustee where to find them.
• Review and update. Revisit your will and trust after major life changes—marriage, divorce, birth of children, or changes in assets. Update documents to reflect your current wishes.

2. Key Steps Checklist

• Inventory all assets
• Select a personal representative and trustee
• Name primary and contingent beneficiaries
• Draft will with required witnesses (NCGS § 31-2.1)
• Create trust under the Uniform Trust Code (NCGS § 36C-2-201)
• Fund the trust with real property, accounts and investments
• Sign and notarize documents
• Store originals safely and inform fiduciaries
• Update your estate plan as life changes occur

Properly drafted wills and trusts give you peace of mind. They reduce probate costs and ensure your loved ones follow your wishes. If you want guidance on drafting documents that comply with North Carolina law, turn to Pierce Law Group. Our experienced attorneys help families build solid estate plans every day.

Contact us to discuss your needs. Email intake@piercelaw.com or call (919) 341-7055 today.