Contact:  Sabrina Winters

Phone:  (704) 843-1446

Email:  swinters@sabrinawinterslaw.com

With the stores crowded, traffic horrendous and holiday parties in full swing, the period between Thanksgiving and New Years Day is undoubtedly one of the most dangerous travel times of the year.  Charlotte lawyer, Sabrina Winters, urges families to be prepared by making necessary updates to their will, trust or other estate planning documents prior to the hustle and bustle of the season.

Charlotte, North Carolina – It is that time of the year again where the stores are packed, traffic is horrendous and holiday parties are in full swing.  And no matter what holiday you celebrate, this is certainly not the safest time to be out and about on the roads.

Between Thanksgiving and New Year’s Eve in 2002  alone, alcohol related crashes killed 1,561 people. That does not even account for the people who were simply injured or incapacitated for any length of time from their injuries.

According to Charlotte estate planning lawyer, Sabrina Winters, the holidays are the perfect time to make sure your will, trust or other estate planning documents are updated so your family stays protected should something unexpectedly happen to you.

“The holidays are a really smart time to make sure your estate plan is exactly how you want it to be should something unexpectedly happen to you and/or your spouse,” says Sabrina Winters,  ”Without an updated estate plan, your children could be left at the mercy of the courts, your assets in limbo and your physical or medical wishes may not be honored in the event of an accident,” Sabrina Winters adds.

Specifically, Sabrina Winters offers four things to consider when updating your estate plan prior to the holiday season:

1. Guardianship nominations:  Have you named guardians to care for your children if something happens to you?  Have you made sure those guardians will have the financial resources to care for your kids in your absence?  Are you even happy with the people you originally chose to care for your kids?  Sabrina Winters says if you answered no to any of these questions, it is time to pull your plan out of the drawer and make a few key changes.

2.  The effect of marriage, divorce or remarriage:  Is your ex-spouse still set to get half of what you own according to the directions of your prior estate plan?  If so, according to Sabrina Winters it is time to update!  Sabrina Winters recommends reviewing your plan carefully to make sure your beneficiaries are exactly as they should be in case something unexpectedly happens to you.

3.  Are your assets owned properly in the name of your trust: If you have a trust, Sabrina Winters says now is a great time to take an inventory of your assets and make sure they are owned properly in the name of that trust.  This is one of the most common reasons an estate plan will fail at the end of a person’s life.

4.  Do you have medical directives and POA’s if you are incapacitated?  If you are incapacitated in an accident but do not die, Sabrina Winters advises that you will need clear medical directives and power of attorney forms so someone you trust can make medical and financial decisions until you are able to speak for yourself.  If medical directives and POA’ were not included in your original plan, speak with a qualified attorney to have them drawn up before the hustle and bustle of the season starts.

“An updated estate plan is the greatest gift you can give to your family over the holiday season, ” says Sabrina Winters.  ”It is the only way to make sure your children, assets and wishes will stay protected should something happen to you during this dangerous time of the year.” Sabrina Winters adds.

For more information about Sabrina Winters, please visit www.ncestateplanninginfo.com or call (704) 843-1446.

Bio:

Sabrina Winters has been assisting clients with all their estate planning needs for over ten years. As a woman, a mom, a wife and business owner, she brings her personal experiences as well as legal experiences to her clients.  Regardless of what stage in life you are or your asset level, Sabrina Winters has the experience and skills to plan for your particular needs.

1. Where are the assets located?  All with one institution or several?

2.  How much time does the appointed Executor or Administrator have to dedicated to collecting the assets?  His or her time may be limited due to his or her own personal responsibilities.

3.  Do we need to locate beneficiaries or heirs?

4.  How quickly does the financial institution provide the information requested?

5.  What is the size of the estate?

6.  The requirements pertaining to filing deadlines, notice requirements, etc. of the Probate Court are always factors to consider as well.

If your goal is to avoiding Probate, have a  smoother and quicker transition of assets then an alternate planning option for you to consider is a  Revocable Living Trust.

In a nutshell, probate is a legal process that takes place after someone dies. Here are some common issues that I have seen come up in probate administration:

-proving in court that a deceased person’s will is valid
-identifying and inventorying the deceased person’s property
-paying debts and taxes, and
-distributing the remaining property as the will or intestacy laws direct.

In general, probate administration involves filing paperwork and court appearances by lawyers. Lawyers and court fees may be paid from estate property.

So how does the North Carolina probate process work?

In North Carolina, probate usually proceeds as follows: Upon the death of a family member, the executor of the will, or, if the person dies without a will, the executor appointed by the court, files the requisite papers in the local probate court. The executor provides evidence of the validity of the will and outlines the nature and extent of the property, debts, and how the estate is to be distributed.

Part of the executor’s job is to find and manage the decedent’s assets during the probate process. Based on what the will says and the extent of any outstanding debts, the executor may have to make decisions about selling real estate or other property.

In some instances, immediate family members may ask the court to release support funds while the probate proceedings are under way. The court will grant the executor authority to pay debts and taxes and divide the rest among the people named in the will. Finally, the property will be transferred.

Avoiding Probate

Once someone in your family has died, you as the surviving family member (in an administration) or named executor (in a probate) have the obligation to see that the estate is handled in the appropriate legal manner. There really is no way to avoid a probate or administration.

Probate and administration procedures are set out in NC Statutes. There are always costs associated, time constraints to follow and statutory guidelines that need to be followed.

It can be difficult to navigate all of this with out the guidance of an attorney. Your best bet is to talk with a North Carolina probated and administration attorney. Find out what your options are, and if hiring a North Carolina probate lawyer makes sense for you.