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 [...]
Tag Archives: real property
October 13, 2008
Is residency a requirement to a valid North Carolina Last Will and Testament?
I recently received a call from a woman who was not a resident of North Carolina. She lived, worked and had assets in another state. The only connection to (asset in) North Carolina was a second home being rented to a family member. Her intent was to move to North Carolina within the next two years. I was asked if [...]