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November 3, 2010

What is the Difference Between a Last Will and Testament and a Revocable Living Trust?

There are similarities between a Last Will and Testament and a Revocable Living Trust: 1. both pass along specific assets, 2. both name guardians, 3. both are written,signed and witnessed; 4. both can be amended and revoked. The differences between both are what sets them apart: A Last Will and Testament, appoints an Executor who [...]

Posted in Beneficiary Designations, charlotte north carolina living trusts, charlotte north carolina trust, Estate Planning, executing living trust, executing revocable living trust, executing trusts, Executor Responsibilities, Last Will and Testament, Probate Process, trusts | Comments (0) | Trackbacks (0)

October 25, 2010

What is an Executor? What is an Administrator?

By Sabrina Winters

I often receive calls from individuals whom were told by the bank that they need to be appointed as the Executor or Administrator of an Estate before any financial information on the decedent is released; and they want to know what that means. What is an Executor? What is an Administrator? They have the same [...]

Posted in Estate Planning, Executor Responsibilities, Last Will and Testament, Probate Process | Comments (1) | Trackbacks (0)

October 8, 2010

What is Probate?

By Sabrina Winters

Probate is a legal procedure required by North Carolina Statutes to distribute the assets of a person who has died with a Last Will and Testament. If the person did not have a Last Will and Testament, then the procedure is called an Administration. It is filed in the county where the person resided at [...]

Posted in Estate Planning, Executor Responsibilities, Last Will and Testament, Probate Process | Comments (0) | Trackbacks (0)

October 5, 2010

Another Reason Why On-line Document Drafting is Risky

By Sabrina Winters

When you use an online service to create your documents, it seems very appealing at first. 1. The cost is ridiculously inexpensive (you do get what you pay for!); 2. You can create a document 24/7; 3. No extra fees to pay an attorney to do what seems to be a pretty easy job…just answer [...]

Posted in advanced medical directives, Attorney Client Relations, Estate Planning, Financial Power of Attorney, power of attorney | Comments (0) | Trackbacks (0)

October 4, 2010

Who Needs a Last Will and Testament?

By Sabrina Winters

Who needs a Last Will and Testament? The answer is everyone needs a written estate plan. Whether you need a Last Will and Testament or a Revocable Living Trust depends on your circumstances and your personal situation.

Posted in charlotte north carolina living trusts, charlotte north carolina trust, Estate Planning, Last Will and Testament, trusts | Comments (1) | Trackbacks (0)

September 9, 2010

What Happens if a Home Does Not Get Placed Into a Revocable Living Trust?

By Sabrina Winters

One of the reasons why people choose to create a Revocable Living Trust versus a Last Will and Testament is because (if done properly) a Revocable Living Trust will avoid probate. The way a Revocable Living Trust avoids probate is by transferring certain assets into the Trust and retitling the owner as the name of [...]

Posted in Last Will and Testament, Probate Process, trusts | Comments (1) | Trackbacks (0)

August 16, 2010

By Sabrina Winters

Not every asset is handled in the same way when transferring it (also known as “funding the trust”) into the Revocable Living Trust. As a matter of fact, there are certain types of assets that if transferred into the Revocable Living Trust will cause significant tax consequences. A common manner in naming a Revocable Living [...]

Posted in Estate Planning, Estate Taxes, Retirement Accounts, trusts | Comments (0) | Trackbacks (0)

July 19, 2010

The Difference Between Ownership Via Joint Tenancy and a Living Revocable Trust

By Sabrina Winters

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 [...]

Posted in Uncategorized | Comments (1) | Trackbacks (0)

Charlotte, North Carolina Estate Planning Attorney

Tag Archives: north carolina estate planning

What is the Difference Between a Last Will and Testament and a Revocable Living Trust?

What is an Executor? What is an Administrator?

What is Probate?

Another Reason Why On-line Document Drafting is Risky

Who Needs a Last Will and Testament?

What Happens if a Home Does Not Get Placed Into a Revocable Living Trust?

The Difference Between Ownership Via Joint Tenancy and a Living Revocable Trust

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