Question 1: What is a probate inventory? When a person creates a will in Greensboro, North Carolina, the will names someone to act as the estate executor. When the will maker dies, it’s up to the estate executor to begin the probate process. Part of this process involves determining exactly what the deceased person owned at the time of his or her death. Much of this property will be … read more
Probate
3 Questions About Self-Proving Wills
Question 1: What is a self-proving will? A self-proving will is a last will and testament that is accompanied by an affidavit signed by the two witnesses who signed the will. Almost all states, including North Carolina, allow people to create a self-proving affidavit that can help prove the will’s validity when it comes time to submit it to a probate court and begin the estate … read more
3 Traits to Look for in an Estate Executor
If you are writing a will in Greensboro, North Carolina, you’ll have to select someone to serve as your estate executor. Also known as personal representative, the executor is responsible for managing the probate process and ensuring your wishes are followed. Here are three traits that every good executor should have. Discipline The probate process in North Carolina can be lengthy … read more
New York Case Highlights Dangers of Escheat
The dangers of not having a will in Greensboro, North Carolina, or creating an estate plan are well known to attorneys, though not so well known to the average person. Even though it’s rare, escheat is one of the dangers that estate planning attorneys often warn against. Escheat is the process through which a state inherits someone’s entire estate because that person failed to leave … read more
Probate Problem Prevents Widow From Accessing Savings Account
The probate process is, at its worst, an annoying, time-consuming, and expensive bureaucratic operation that can frustrate even the most seasoned probate lawyer. It’s even worse when the rules and policies designed to prevent problems hinder relatives of the deceased person from wrapping up their affairs. Such is the case with Julia Bolena, a Jacksonville, Florida widow whose husband … read more
A Good Active Gift Strategy Takes a Little Planning
If you are making a will in Greensboro, North Carolina and are using it to pass inheritances, you may want to think about developing an active gift strategy as well. While you can easily develop an estate plan that focuses on giving gifts through inheritances, developing a living gift giving strategy can provide you with some significant tax benefits. You’ll need to speak to your lawyer … read more
Why a Living Trust Goes Hand-in-Hand With a Will
All adults in Greensboro, North Carolina should take the time to create a last will and testament. But just because you create a will that doesn’t mean you can stop your estate planning efforts. Wills are necessary pieces of any estate plan, but they are not capable of meeting all of your needs. At the very least you will also want to create a revocable living trust that will go … read more
North Carolina Executors Must be Aware of Identity Theft
Anyone managing an estate in North Carolina has a range of duties required of them under North Carolina’s probate laws. Part of these duties include notifying creditors of the decedent’s death, as well as evaluating claims filed against the estate. It’s vital to carefully evaluate all of these claims because some of them may in fact be fraudulent and arise as a result of identity … read more
How Do I Find Out About An Estate?
For many people, the first time they hear about probate court is after a close family member dies and the estate makes its way through the probate process. For these people, as well as for people who may even have some experience with the probate process, the court system can often feel as if it’s a bureaucratic nightmare. But fear not, for the world of probate is so inscrutable if you … read more
Commonly Asked Questions About Testamentary Trusts
Question 1: What is a testamentary trust? A testamentary trust is one commonly used form of trust, so-named because you create it through the terms of your last will and testament. Unlike a living trust, a testamentary trust is created after you die. Question 2: How do I create a testamentary trust? In order to create a testamentary trust, you will have to provide key … read more
