When deciding who will serve as the executor of an estate, it is important to understand what sort of tasks the executor must carry out. Though the duties will change depending on the estate plan itself, many of the responsibilities will remain the same across the...
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Estate Planning
A simple estate plan needs these 3 components
Having a North Carolina estate plan helps ensure that your wishes come to be if you become unable to vocalize them, and it may, too, mean your loved ones have an easier go of things after your passing. Putting together an effective estate plan does not need to cost a...
How to discuss estate planning with your aging parent
Even in the healthiest of parent-child relationships, there are times when uncomfortable discussions must take place. If your parent is approaching their senior years without an estate plan in place, it might be time to broach the subject of how they would like to...
What are some common misconceptions about estate planning?
No matter where you are in life, you may begin to wonder about your estate and what will happen after you die. Choosing people who will inherit your assets, typically named beneficiaries, is an important step in this process. There are some misconceptions and...
How do you discuss your funeral plans with adult children?
Rather than wait for the inevitable, you instead want to remain in control of your life and death. You planned your funeral so your adult children and loved ones do not have to, but maybe you struggle with sharing those plans. Funeral Basics explains tips for talking...
How do you decide who to name as beneficiaries?
Beneficiary designations can influence the closure of your estate more than you may realize. Being selective in how you choose your beneficiaries can give you the reassurance that your legacy is in good hands. Answering some questions can help you determine who would...
What is a trust?
If you are getting started with estate planning, you may have heard about the benefits of creating a trust. However, you may still be unclear about what exactly a trust is or what it does. According to The Street, a trust is a separate legal entity that you create to...
How can you avoid common estate planning mistakes?
When it comes to estate planning, you are never too young to get started. Your level of wealth also does not matter, as any person with some assets should have a solid plan in place. Of course, creating a plan is really just the beginning. You must also ensure your...
Will you owe estate taxes?
An important part of the estate planning process in North Carolina involves recognizing those opportunities to preserve assets. Some pending expenses, however, may seem inevitable. You might reasonably list estate taxes in this category. Yet is that true? North...
When should you update your will?
Thankfully, you took the time to craft a will for yourself and your loved ones. Do you plan on changing the legal document's contents? Next Avenue explains situations that often require updating a will. Ensure your estate plan always represents your most current...