Estate Planning & Probate

High net worth individuals in North Carolina are likely aware of the changes that came about with the Tax Cuts and Jobs Act. For one thing, it increased the federal estate tax basic exclusion from $5 million to $10 million. What people may not know is that many of the...

When people in North Carolina think about planning for the future, they may be worried about what probate would mean for their estate. There are a number of estate planning techniques that can enable assets to pass outside of probate, which is often considered...

In most cases, the person who has been chosen or appointed to oversee a North Carolina estate will have the estate’s best interests in mind. However, this is not always the case. If an executor fails to live up to his or her fiduciary duties, it may be possible to...

Some people in North Carolina who are creating an estate plan might want to avoid probate. In some cases, a combination of strategies may accomplish this. For example, it might be possible to leave a home to another individual if both people are joint tenants with...

For North Carolina residents looking to set up an estate plan, reducing taxes and avoiding probate tend to be the most common goals. However, estate planning professionals understand that less predictable risks exist and can wreak havoc on trust funding and other tax...

There are many steps that North Carolina residents and others need to take to create an adequate estate plan. The first step is to create an inventory of their personal and business assets. It will also be necessary to either estimate their value or have them...

It is never too early to start learning about trust fund options, even if you are only just starting to accumulate assets. For starters, North Carolina residents should learn about the characteristics of revocable and irrevocable living trusts, which are two of the...

Individuals with assets in North Carolina should know when it is time to create a will – and when to change it. People generally first think about creating a will after having their first child, but it is never too early to speak with a trusts and estates attorney....

North Carolina residents who do not have a will or trust should start thinking about the benefits of estate planning. Though it may seem too difficult or costly to get a trust, the cost and process are almost certainly less burdensome than the cost of not having one....

One error that some people in North Carolina who have a trust as part of their estate plan might make is failing to fund the trust. This can mean assets that were intended for the trust may have to pass through probate, and some people may not inherit as intended....