Wills vs. Trusts in North Carolina: Understanding the Key Differences In North Carolina, Wills and Trusts are essential estate planning tools that serve different purposes. A Will directs how assets are distributed after death and names executors and guardians, but it must go through probate. A ...
Planning for your future medical needs isn't something anyone looks forward to, but it's one of the most important gifts you can give yourself and your loved ones. As a North Carolina resident, having a power of attorney (POA) ensures your wishes are honored if you become unable to communicate. A...
Did you know that 68% of Americans don't have a valid will? Even more concerning, nearly six in 10 adults report experiencing or knowing someone who faced family conflict due to inadequate estate planning. Without proper documentation, you risk leaving your loved ones vulnerable to unnecessary di...
Q: What is the purpose of a Special Needs Trust? While you can certainly bequest money and assets to those with special needs, such a bequest may prevent them from qualifying for essential benefits under the Supplemental Security Income (SSI) and Medicaid programs. However, public monetary benef...
If you have a family member who is either incapacitated due to old age or infirmity, or is a vulnerable child or disabled adult, you may be worried about how they will be taken care of. When a person becomes unable to make decisions for themselves, meeting the basic necessities of life can becom...
Probate can be a lengthy and stressful process associated with notifications, numerous court procedures, and a multitude of filing requirements. In some situations, the probate process can lead to contentions and disputes among the family members of the deceased. As you prepare for the probate pr...
Medicaid is a joint federal-state program that delivers medical assistance to low-income individuals who are deaf, blind, or over the age of 65. Often, Medicaid is used for the elderly to finance the extensive costs of receiving long-term care. However, in order for benefits to be acquired, there...
Plan for your family's future document needs Jennifer's 40 year old husband, Frank, left for work one morning only to be involved in a horrific car accident. She arrived at the hospital to find her husband in a coma with no hope given by the doctors. She went home and realized that while she an...
Below are some common questions and answers about estate planning, especially regarding making a will. Why should I prepare a will? A will protects your interests in your property after you die. It is a legally binding document that dictates what property a person may inherit after a loved one d...
Top 5 Overlooked Issues in Estate Planning In planning your estate, you most likely have concerned yourself with “big picture” issues. Who inherits what? Do I need a living trust? However, there are numerous details that are often overlooked, and which can drastically impact the distribution of y...
Considering Online Estate Planning? Think Twice The recent proliferation of online estate planning document services has attracted many do-it-yourselfers who are lured in by what appears to be a low-cost solution. However, this focus on price over value could mean your wishes will not be carried ...
Do Heirs Have to Pay Off Their Loved One's Debts? The recent economic recession, and staggering increases in health care costs have left millions of Americans facing incredible losses and mounting debt in their final years. Are you concerned that, rather than inheriting wealth from your parents, ...
6 Events Which May Require a Change in Your Estate Plan Creating a Will is not a one-time event. You should review your will periodically, to ensure it is up to date, and make necessary changes if your personal situation, or that of your executor or beneficiaries, has changed. There are a number ...
Coordinating Property Ownership and Your Estate Plan When planning your estate, you must consider how you hold title to your real and personal property. The title and your designated beneficiaries will control how your real estate, bank accounts, retirement accounts, vehicles and investments are ...
Overview of Life Estates Establishing a Life Estate is a relatively simple process in which you transfer your property to your children, while retaining your right to use and live in the property. Life Estates are used to avoid probate, maximize tax benefits and protect the real property from pot...
Do I Really Need Advance Directives for Health Care? Many people are confused by advance directives. They are unsure what type of directives are out there, and whether they even need directives at all, especially if they are young. There are several types of advance directives. One is a living wi...
Joint Bank Accounts and Medicaid Eligibility Like most governmental benefit programs, there are many myths surrounding Medicaid and eligibility for benefits. One of the most common myths is the belief that only 50% of the funds in a jointly-owned bank account will be considered an asset for the p...
Medicare vs. Medicaid: Similarities and Differences With such similar sounding names, many Americans mistake Medicare and Medicaid programs for one another, or presume the programs are as similar as their names. While both are government-run programs, there are many important differences. Medicar...