It is hard to determine the length of time it will take to finalize a Probate or Administration in North Carolina. There are many determining factors. Just to name a few: 1. Where are the assets located? All with one institution or several? 2. How much time does the appointed Executor or Administrator have to [...]
Tag Archives: revocable trust
September 9, 2010
What Happens if a Home Does Not Get Placed Into a Revocable Living Trust?
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 [...]
August 16, 2010
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 [...]
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 [...]