North Carolina Statutes require: 1. it be in writing; and 2. signed by the Testator with intent that it be his last will and testament; and 3. Witnessed by at least two competent witnesses; and 4. The testator must signify to the attesting witnesses that the instrument is his instrument by signing it in [...]
Category Archives: Uncategorized
July 19, 2010
The Difference Between Ownership Via Joint Tenancy and a Living Revocable Trust
Recently, one of my clients asked about joint tenancy ownership, as they had put their children on the deed to their home in joint tenancy. It got me to thinking about the different forms of ownership and how to explain why you would want to consider holding your assets in a living trust instead of [...]
July 13, 2010
How family values factor into an Estate Plan
My girl friend recently tried to make homemade tomato sauce. I don’t mean opening a can of purée and adding some seasonings. I mean using tomatoes fresh off the vine from her back yard, boiling, peeling and cooking them. It is some chore, but when it is all said and done, it is mouth watering! [...]
June 24, 2010
Planning for Incapacity
In the area of estate planning, there are many different aspects that you will have to consider. One of these areas is what will happen if you are incapacitated. Here are a few things to consider about planning for potential incapacity in the future. Choosing Representation If you are incapacitated, you may not be able [...]
June 23, 2010
A personal family scare
It is one thing to hear me say repeatedly how important it is to have a written plan for what you want to happen in case of certain situations…a healthcare issue for example. Emergencies really do happen and happen to all of us, even my family. Our family recently had a health scare with my [...]
May 6, 2010
An Explanation of Gift Taxes
Each person may gift up to $13,000 per individual per year in 2010. A married couple may gift up to $26,000 per individual per year in 2010. These amounts are exempted gifts. Each person is allowed $1 million lifetime gifting. If more than $13,000 is gifted to one individual in one year, the person making [...]
May 3, 2010
Have your current Living Revocable Trust reviewed
Our Firm is often asked by clients to review their Revocable Living Trusts which were created by other Firms. We are happy to do it and commend those clients who approach us for this service. It not only means that they understand the importance of having a properly drafted Estate Plan, but they are taking [...]
March 1, 2010
Life Insurance as an Estate Planning Tool
Often times Life Insurance can add more value to an Estate Plan than you think. If the estate is small, Life Insurance can provide significant liquid assets at a relatively low cost. This often times is a strategy used to provide a guaranteed specific amount of assets for children.
February 21, 2010
Estate Planning and after-born children
If you are a young couple still planning on growing your family, do not let that be the reason that holds you back from having an estate plan today. The Estate Plans drafted for my clients include a simple statement that includes any after-born children. What this means is, that if you have two children [...]
January 19, 2010
3 Common Myths About North Carolina Estate Planning
There are many misconceptions about North Carolina estate planning and what it entails. You should be building your estate plan with the best interests of your family in mind. Sound legal advice should guide you with regards to the estate plan that is best for you, not myths and misunderstandings. I have listed 3 of [...]
