One of the important steps in making a last will and testament in Greensboro, North Carolina is choosing different people, such as a personal representative, to represent your estate and your interests. For example, if you are a child with young parents you will want to include a clause that selects a guardian who will care for your children should you die before they become … read more
Wills and Trusts
James Gandolfini Will Details Released
When actor James Gandolfini died in June at the age of 51, he left behind an estate estimated to be worth about $70 million. In early July, a representative of his estate submitted his will to a New York Surrogate’s Court. In that document, Gandolfini left the majority of his estate to his children: a 13-year-old son and an eight-month-old girl. Children cannot legally own property … read more
You Should Avoid Appointing Co-Executors
People in Greensboro, North Carolina who make a last will and testament have to appoint an executor who will be responsible for managing their probate estate. An executor has numerous different responsibilities that he or she must meet during the probate process. In some situations, people appoint co-executors to manage their estates. These executors both have the authority, and the … read more
Your Living Trust and Your Choice of Trustee
A properly drafted and funded revocable living trust is an essential estate planning tool for many people. If you are creating a revocable living trust in Greensboro, North Carolina, one key step you will have to take is selecting a trustee to manage the trust property. While there are several options available to you when you make this choice, there are also some issues you need to … read more
Revoking Your Revocable Living Trust
A revocable living trust is an important piece of many a North Carolinian’s estate plan. However, there may come a time when you might want to revoke your trust. While there are many reasons why you might want to do this, the procedure involved is relatively simple. Here’s what you need to know about revoking a living trust in North Carolina. Is it revocable? Most people who create … read more
Estate Planning Errors Plague Even Celebrities
When people in Greensboro, North Carolina make a last will and testament as part of an estate plan, they typically do so after seeking the advice of an experienced estate planning attorney. It seems natural to consult a lawyer when you have questions about inheritances, but not everybody does this. In fact, even some of the most well-known celebrities can fail to find, or heed, qualified … read more
3 Questions About Fiduciaries
Question 1: What is a fiduciary? As part of the estate planning process you will probably have to appoint one or more fiduciaries. A fiduciary is someone who not only has the legal authority to make certain types of decisions for you, but who also has a specific duty imposed upon them by the law. Fiduciaries include your attorney, accountant, financial advisor, real estate agent, and … read more
3 Questions About Will and Living Will Registries
Question 1: What is a living will or a will registry? People who create last wills and testaments and living wills in Greensboro, North Carolina, have to make sure that these documents comply with all relevant state law. Some states, such as North Carolina, provide residents with the ability to file some of these important documents with a state office. You can file any advance health … read more
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 Common Living Trust Myths
People in Greensboro, North Carolina who create a will also often create a living trust and use the will primarily as a tool to catch any property that they didn’t adequately transfer to the trust when they were alive. Even though a living trust is an excellent estate planning tool for many people, there are some common misconceptions about it. Here are some of the more common myths … read more
