This is a great question and it is often asked at my consultations. 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 [...]
Tag Archives: Estate Planning
December 15, 2011
Powers Of Attorney…What Are They And What Do They Do?
Generally speaking, there are various types of powers of attorney in North Carolina; each with its’ own specific function. Their function is more detailed than I will provide below. However, generally it is as follows… 1. Durable General Power of Attorney: This Power of Attorney is created so that someone can manages finances for you. [...]
December 13, 2011
I Am The Executor. I Don’t Need An Attorney To Help Me…Or Do I?
The question I often hear is: “Am I required to hire an attorney to help me with a probate?” The general answer is no. North Carolina does not require an executor or administrator to hire an attorney to assist with probating or administering the estate of a decedent. The realistic answer is probably. The process [...]
December 7, 2011
10 Life Events That Should Trigger A Review Of Your Estate Plan
I know that reading your Will or Trust is not the most interesting reading material you have laying around your house. However, for your estate plan to work it is important that it changes as your life changes. No estate plan should ever be treated as a sign it and forget it document or stuffed [...]
October 26, 2011
iPad Apps Specifically For Autistic Children And Adults
A few months back I wrote a blog about iPad Apps For Special Needs Children. As a follow up to this, I wanted to share a story that aired on 60 Minutes recently regarding Apps for Autism. You can watch the full story on YouTube at Apps for Autism. Although I heard some not so [...]
October 21, 2011
Federal Estate Tax Changes For 2012
The IRS announced recently that the amount that an estate is exempt from estate taxes will increase next year. Anyone dying in 2012 the basic exclusion from estate tax amount will be $5,120,000 (up from $5,000,000 in 2011). The annual gift amount per year per person will remain at $13,000.00.
September 29, 2011
Should You Treat Your Children Equally?
We have a running joke in my family that my youngest sibling (my brother) has always been the favorite. Maybe it is because he was the baby in an Italian family or maybe it was because he was the only son. All kidding aside, I know my parents love us each equally. They do love [...]
August 1, 2011
Do Your Beneficiaries Match Those Named in Your Will or Trust?
As an estate planning attorney in Charlotte, North Carolina, I have unfortunately seen many circumstances where a person goes through the time and expense of having an estate plan done, only to fail to update their beneficiaries on their financial or retirement accounts before they pass away. An example of this would be Mary naming [...]
July 15, 2011
An Ex-Spouse Should Also Be An Ex-Beneficiary!
I can’t tell you how often I meet with clients that have been divorced (sometimes for several years) who still have their ex-spouse named as beneficiary on their IRA, 401K, investment accounts and even Life Insurance policies. Now, this may have been done on purpose with forethought and intent. But, let’s face it – an [...]
July 13, 2011
What’s My Password Again?
I met with a client the other day who lost his friend and he came to me for some help on how to get his friend’s affairs in order. As we went through the check list of things to look for, my client looked at me and said “He did all his banking on line [...]