If you already have created a living trust but are thinking about changing some of its terms, there are some things you should know, and they may be found in the paragraphs below. Even if you have never heard of a living trust but are beginning to consider your estate planning options, the following paragraphs will provide you with some basic information about the living trust. 1. … read more
Probate
Some Estate Planning Issues Are Easy to Overlook
Creating a will in Greensboro, North Carolina, is not typically very difficult. As long as you are honest with your estate planning attorney and know what you want to accomplish, a will is a relatively easy legal document to create. However, there are some issues that many people creating a will sometimes overlook. This is especially true if you use do-it-yourself estate planning and … read more
Two Things You Need to Know about Debts and Death
If a friend or family member has recently died, you may be dealing with outstanding debts owed by that person. You may be wondering who will have to pay these debts, or where the money will come from. The fact of the matter is this: there are two things you should know about when it comes to outstanding debts owed by someone who has died. The first thing you’ll need to know is whether … read more
Who to Choose as Your Estate Representative
Anyone making a will in Greensboro, North Carolina, has the right to choose who will serve as the executor of the estate. The executor, also known as an estate administrator or personal representative, has to be someone who can handle the probate case and represent your interests in front of the clerk of the Superior Court. There are two main options you have when selecting an executor, … read more
North Carolina Probate: Notice To Creditors
If you are considering making a will in Greensboro, North Carolina, you may be curious about how your wishes are carried out after you die. In general, a will sets out your choices about who receives your property, or at least a specific type of your property known as probate property. As part of the probate process, someone will have to represent your state. This person, known as an … read more
The Myth of the Will Registry
Some people making a Will in Greensboro, North Carolina have heard about Will registries but don’t really know what they are. Some of these people may be confused by what these registries do, and may believe that you have to file your Will with the registry as part of the legal process. Here is what you need to know about Will registries and how they can impact your will. Optional … read more
Using Jointly Owned Property in North Carolina to Avoid Probate
Many people hear that avoiding probate is a good thing, but they don't really know how it works or what they have to do to make sure property stays out of the probate process. One common way you can avoid probate is to own property jointly with someone else. Joint property is often one of the easiest forms of probate avoidance property to create, though it isn't perfect. Tenancy by … read more
Probate Terminology For the Non-Attorney
You don't have to be well-versed in legalese to be able to create a comprehensive estate plan. Unfortunately, estate planning attorneys sometimes use language with which they are very familiar, even though their clients are not. Sometimes this language can make it hard for clients to know exactly what is going on, so it's always in your best interest to speak up if you aren't familiar … read more
Living Trusts Can Help You Avoid Probate
For many people creating an estate plan, avoiding probate is a major goal. Having your assets transfer to new owners after you die without the requirement of going through probate can save your estate a lot of time and money. It can also offer you the opportunity to keep your affairs entirely private as probate documents are part of the public record and anything that goes on in a … read more
Estate Planning Terms: Ademption – 3 Questions
Question 1: What is ademption? Ademption refers to when a Will leaves a specific gift to someone, but, when the time comes to distribute those gifts, the person who made the Will no longer owns that property. In this situation there is nothing for the estate to give to the named beneficiary, so the gift has failed, or adeemed. Question 2: How does ademption happen? There are two … read more
