Understanding Estate Litigation in North Carolina
When someone passes away, their estate often becomes the subject of various legal actions, most notably, estate litigation. But what exactly does that entail in North Carolina? Estate litigation is the process of resolving disputes related to an individual’s estate, such as will contests, breaches of fiduciary duties, or disagreements about the distribution of assets.…
Read MoreExploring Affordable Assisted Living Options in North Carolina
At the Trusts and Estates Law Group, we understand that the decision to move into assisted living is a significant one. It often involves emotional considerations, financial implications, and most importantly, the wellbeing of a loved one. Fortunately, North Carolina offers a range of affordable assisted living options that ensure quality care without breaking the…
Read MoreJoin Us in Welcoming Gary Ernst
Our North Carolina Estate Planning and Elder Law attorneys are committed to honoring the life, work, and charity of every individual. Knowing that critical decisions regarding wills, trusts, and probate often need to be made while people are struggling with overwhelming emotions, Gary Ernst strives to explain everything in “plain English” so that clients understand…
Read MoreJoin Us in Welcoming Graham B Schmidt
Graham focuses his practice on estates because he enjoys bringing comfort to people who are anxious about the future. When clients face significant changes, such as the death of a loved one or the onset of a disability, Graham strives to serve as a source of calm while developing the right plan to meet future…
Read MoreThe Importance of Trust Funding – Ensuring Your Estate Plan Works
When it comes to estate planning, one crucial step often overlooked is trust funding. Trust funding involves transferring your assets to your living trust and updating beneficiary designations on various accounts, such as life insurance or retirement accounts. This process is essential for the success of a trust-based estate plan, especially when it comes to…
Read MoreProbate Avoidance through Lifetime Gifting
Opting to gift your assets to your beneficiaries during your lifetime can appear as an effortless way to sidestep probate. However, the process of gifting involves certain complications. The Timing Challenge of Gifting Gifting to avoid probate presents two main dilemmas: Too Much Too Soon: If you gift too much of your property too early,…
Read MoreWill Medicaid Know if I Sell My House in North Carolina?
Many North Carolina residents ask us, “If I sell my house, will Medicaid know about it?” The answer is yes. In North Carolina, Medicaid programs must follow federal guidelines, but they vary greatly from state to state. When you apply for Medicaid, the program considers your income and assets to determine eligibility. Medicaid has strict…
Read MoreSimplify Estate Transfer with TOD/POD Properties – But Tread Carefully
Estate planning often involves seeking strategies to streamline the transfer of assets after death and avoid probate—a typically lengthy and complex legal process. One such strategy that’s become popular due to its relative simplicity is the use of Transferable on Death (TOD) and Payable on Death (POD) properties. Let’s delve into this approach and understand…
Read MoreUnderstanding Probate: Why You Might Want to Avoid It
Probate is a legal mechanism meant to distribute a person’s estate to their heirs after that person’s demise. On the surface, it appears as a simple process involving the identification of assets, settling of any claims, and finally, distribution of the remaining assets. However, the underlying complexity often compels individuals to explore alternatives. This article…
Read MoreNavigating the Role of Insurance, Annuities, and IRAs in Estate Planning
Assets like life insurance, annuities, and qualified retirement plans (e.g., IRA, 401k, 403b, etc.) are a critical component of many people’s estate plans. At the owner’s death, these assets often transfer directly to beneficiaries as stated in the asset contract, bypassing the probate process. Since these transfers are governed by the contract, there is no…
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