Are you like the groundhog? Are you the type to peek-out, see your shadow, and go back in to your safe warm place?  Or do you step out and face the day head on?

Interestingly enough, the tradition of the groundhog being afraid of seeing his shadow is a recent phenomenon.  The tradition started as a medieval superstition that all hibernating animals (not just the groundhog) came out of their caves and dens to check the weather in early February.  If the animal could see their shadow, it meant winter could go on for another 6 weeks (which meant they could go back to sleep!)  A cloudy day meant spring was just around the corner and they could venture out.  As you can see, shadow didn’t “scare” the animal back into the safety of their den.  It was simply an alarm clock of sorts!

So with that myth dispelled, I also want you to stop using the fear of your mortality as a reason for postponing doing your own will or trust or putting a plan in place (health care power of attorney and living will) for your medical care in the event you cannot make these decisions for yourself.

Simply think of estate planning as a way to ensure that your legacy will go to the people you want, in the way you want, when you want.  It will also allow you to save your loved ones potential court costs, attorney’s fees and most importantly, will allow them to mourn your loss without the added burden of the distribution of your estate being uncertain.

So, as we see all the news and excitement surrounding Punxsutawney Phil this year, take a long look at yourself and see if you are ready to make sure your family is taken care of no matter what.  If your plans are lacking, I invite you to give me a call to discuss your options.

By simply mentioning this article, you can come in for a Peace of Mind Planning Session for only $250 (normally $750).  However, this offer is limited to 5 per month so call 704-843-1446 to reserve your space today.

We all get busy and we all put things off on a daily basis.  Most of the things we delay in getting done,  like grocery shopping and getting gas, will probably not dramatically change your life if you get to it on Friday instead of Wednesday.

But, putting off getting your Estate Plan in writing may have a major negative effect on the rest of your life as well as that of your family if you keep saying that you will get it done someday.

Don’t put it off anymore.  Call our Charlotte Wills and Trust Law Firm at (704) 843-1446 and let us help you start to get the best plan for you and your family in place TODAY!!

Radaronline.com somehow got a hold of her Trust (which technically is a private document…one of the many reasons people choose a Trust over a Will).  Just for kicks to those who think a viable option is a Do-It-Yourself (DIY) estate plan or that it isn’t worth the money to pay an attorney to put a plan in place for you, read Fawcett’s Trust and see the type of language that a proper estate plan needs to include.

If you don’t have an estate plan in place and even if you don’t have anywhere near the assets that Farrah Fawcett had, call our Charlotte Wills and Trust Law Firm in Charlotte, North Carolina at (704) 843-1446 and schedule your Planning appointment.  I am certain you will be surprised at how much you will learn!

Whether you are healthy or ill, wealthy or poor, young or old, Estate Planning does not discriminate.  Everyone needs to have a written plan in place. Come find out what steps you need to take to get your affairs in order and why you need to do them NOW!

Host:            Presbyterian Buddy Kemp Cancer Support Center

Location: 242 S. Colonial Avenue, Charlotte, NC 28207

Time:            6:00 p.m. – Light dinner will be served

Cost:             FREE!

RSVP: Call the Center at 704-384-5223 or Sabrina Winters at 704-843-1446

If you cannot attend and do not have any written plans in place, I encourage you to contact our Charlotte, North Carolina Estate Planning firm at (704) 843-1446 to schedule your planning consultation.

HOPE TO SEE YOU THERE!

Twas the night before Christmas, he lived all alone,

in a one bedroom house made of plaster and stone.

I had come down the chimney with presents to give

and to see just who in this home did live.

I looked all about, a strange sight I did see, no tinsel,

no presents, not even a tree.

No stocking by mantle, just boots filled with sand,

And on the wall pictures of far distant lands.

With medals and badges, awards of all kinds,

A sobering thought came to my mind.

For this house was different, so dark and so dreary,

The home of a soldier, now I could see clearly.

The soldier lay sleeping, silent, alone,

Curled up on the floor in this one bedroom home.

The face was so gentle, the room in such disorder,

Not how I pictured a United States soldier.

Was this the hero of whom I’d just read?

Curled up on a poncho, the floor for a bed?

I realized the families that I saw this night,

Owed their lives to these soldiers who were willing to fight.

Soon round the world, the children would play,

And grownups would celebrate a bright Christmas day.

They all enjoyed freedom each month of the year,

because of the soldiers, like the one lying here.

I couldn’t help wonder how many lay alone,

On a cold Christmas eve in a land far from home.

The very thought brought a tear to my eye,

I dropped to my knees and started to cry.

The solder awakened and I heard a rough voice,

“Santa don’t cry, this life is my choice;

I fight for freedom, I don’t ask for more,

My life is my God, my country, my corps.”

The soldier rolled over and soon drifted to sleep,

I couldn’t control it, I continued to weep.

I kept watch for hours, so silent and still,

And we both shivered from the cold evening’s chill.

I didn’t want to leave on that cold, dark night;

This guardian of honor so willing to fight.

Then the soldier rolled over, with a voice soft and pure,

Whispered, “Carry on Santa, it’s Chrismas day, all is secure”.

One look at my watch, and I knew he was right.

“Merry Christmas my friend, and to all a good night.”

An executor is a person named in a Last Will and Testament.  This person’s role is to submit the original Last Will and Testament to the Probate Court in the county where the person died and request authority from the Clerk to collect and distribute the assets according to the Will.

A trustee is a person named in either a Last Will and Testament or a Revocable Living Trust.  (This person is also named in various other types of Trusts, but we are focusing on the more known and used Revocable Living Trust.)  If this person is named in a Will, then he or she is named to be appointed the Trustee of a Testamentary Trust.  A Testamentary Trust is one which is created after death and included within the language of a Will.  The most common example I can provide is a parent whom leaves assets to a child but if the child has not reached a certain age, then it is put into a Trust, managed by the Trustee according to the requirements of the Trust.

If a Trustee is named in a Revocable Living Trust, he or she essentially is named to manage the Trust and the assets within the Trust either while the person whom created the Trust is incapacitated or has passed away.  This Trustee could also be managing a Trust for a child, similar to the above where it is created via a Will.

The Executor and Trustee can be the same person; there is no requirement that different individuals be named.  They just have different roles, sometimes being held at the same time.

If you do not have a Will or Trust in place, call our Wills and Trust Firm in Charlotte, North Carolina at 704-843-1446 and we can help you in choosing the best person for either role.

1.  Durable General Power of Attorney:  This Power of Attorney is created so that someone can manages finances for you.  For the most part, this takes affect the minute it is signed.  It does not matter if you become incapacitated the next day.  There is typically a statement in the document that says something along the lines of: “This power of attorney is a durable power of attorney, and it shall not be affected by my becoming disabled, incompetent or incapacitated or the lapse of time.  It is my intent that the authority conferred herein shall be exercisable notwithstanding my physical disability or mental incompetence.”

Often times this is what a husband and wife will use for each other.  I do recommend to my clients to check with the banks they maintain their accounts with if they require their own form to be signed in addition.  Although it is not statutorily required, I have occasionally seen some local branches of banks require an in house form to be executed as well.  If you need to do this please remember to put the agents in the same order.  It is going to potentially create some serious problems if your daughter is named as first in one and second in the other!

2.  Springing Power of Attorney: This takes effect when the person creating the document becomes incapacitated.  It can be signed today and in three years from now when the person is incapacitated it becomes a document that can be used by the agent but not before then.  Typically two doctors are needed to certify incapacity.  If you no longer are incapacitated, the authority is revoked until the future if it is ever needed again.

3.  Healthcare Power of Attorney: This document names a person to make medical decisions.  This person is called an agent whom is essentially stepping into the shoes of the person signing the HCPOA and makes the decision that person would have normally made for him or herself.  I always suggest to make certain you tell everybody that is close to you, family, friends, even the agent that you appoint, what your wishes are.  Even though it is in the document it’s a tough decision to make.  So if they know and everybody else knows it’s a much more comfortable decision to be able to make.

This authority typically kicks in when either a doctor that has been named (or if left blank the doctor attending to you), determines that you lack capacity. The duration of the authority granted via the power of attorney can also be limited.  The language would read similar to this:  “If I am unable to make health care decisions for myself when this power of attorney expires (on the date I may have inserted above), the authority I have granted to my agent and attorney-in-fact continues to exist until the time I become able to make health care decisions for myself.”

Every estate plan should include both a Power of Attorney for finances as well as medical decisions.  It is important that your estate be managed after your death, but you may also need assistance while you are still alive.

If you need to revise these documents or create them for the first time, call our Estate Planning firm in Charlotte, North Carolina at 704-843-1446 and we will be happy to assist you in getting your affairs in order.

The realistic answer is probably.  The process may become overwhelming for that executor that is appointed.  Often times they are working, have families, and may even be out of state.   Much of the work in a probate  can be done via the mail.  Although, it tends to become cumbersome because assets need to be located; documents need to be forwarded to the institution, etc.  Sometimes, notice to creditors needs to be filed and it needs to be done in a specific manner. Do you know the language that has to be included? Do you know when the time starts running?  Do you know when it ends?

There are several filing deadlines that must be met as well.  There are tax issues that need to be considered as well as distribution requirements.  Making a distribution at the wrong time may have drastic financial penalties associated with that distribution.  Do you know when you can start distributing money?  Do you know when you can’t?
So there are ins and outs to the probate procedure that the typical executor may not know or understand.  Executors can ask the Clerk at the Probate’s court certain questions, but they are not permitted to give legal advice.  The Clerk can only give procedural advice and will more likely suggest that you speak with an attorney regarding your question.

I have retained many new clients in the middle of trying to do it themselves for several reasons.  The most common one has been that they just cannot handle all the details on their own.

If you have been appointed as an executor or administrator and need help in settling the estate, call our Charlotte, North Carolina Probate Law Firm at 704-843-1446 to help you.  We will be honest with you and tell you whether you really need us or not.

The value of your estate really does not dictate whether you need a Will or not.  If your estate is small or large, you still need somewhere for your assets to go.  If you want your assets to pass to whom YOU want, you need to put it in writing.  If you don’t have a Will, North Carolina basically has written your Will into the statutes and ultimately decides FOR YOUR who gets your assets.  These individuals may ultimately be the same as you would have chosen, but often times they are not.

So if you want to retain control after you pass, my suggestion is put it in writing, have a Will or have a Revocable living trust and make sure that your wishes and not those of North Carolina are followed.

If you are ready to take control, call our Charlotte Wills and Trust law firm at (704) 843-1446 and we will help create a plan that conforms to your wishes.

1. Executor  (to handle the collection and distribution of your estate);
2. Guardian of minor children (to raise your minor children);
3. Trustee of a trust for your children (to manage any assets left to your children);
4. Trustee of a Revocable Living Trust  (in case you become incapacitated);
5. Agent to make health care decisions  (make medical decisions for you when you cannot do it yourself);
6. Agent to make financial decisions (to help you with your finances)

Prior to naming any individual you should always first speak to him or her.  Ask if they want to have the responsibility should they ever need to step in.  If you know their feelings before you put your plan into place you have saved yourself and your loved ones a great deal of heartache.

Ask the person you wish to be the guardian of your children if they are comfortable doing that.  Have an open discussion with them on how you would like your children raised; what values are important to you that your children be taught.  A very good friend of mine asked if I would be the guardian of her two boys if something happened to both her and her husband.  As much as I loved her and her family, I could not do it.  I was already named as the guardian for my sister’s two boys and my sister in law’s two girls.  If something happened to my friend first then how could I possibly be able to care for  an additional 4 children?

Ask your Health Care agent if they would feel comfortable withholding certain treatments that you want withheld.  I did not think that I could be able to make those decisions for my parents and I was honest with them when we put their plan together.  We named my other sibling who said she would be comfortable making those types of decisions for them.

In order for you to get an honest answer you have to be able to explain to them what their actual role would entail.  If you need help in figuring out what everyone’s role is and how to have the discussions, call our Charlotte Wills and Trust Firm at (704) 843-1446 and we will help either facilitate a Family Meeting or assist you figuring out who to name.  This isn’t the time for saying the right thing; it is the time for honesty and openness.