Tax & Advanced Planning
Many topics fall under the category of Advanced Estate Planning. Usually Advanced Estate Planning is synonymous with reducing the Federal Estate Tax. An overview of some estate tax planning approaches is below: Estate Taxes Minimization Tools The Federal Estate Tax Exemption amount is the amount an estate can pass free of taxes. The current Federal…
Read MoreFirst Steps of Estate Planning
If you’ve recently lost a loved one, please accept our condolences. The weeks ahead will be difficult on many levels, handling the estate of the lost included. Our experience suggests that the steps below apply in most circumstances and will help guide you through the next several weeks. Notify family and friends of your loved…
Read MoreSecure Your Loved One’s Future with a Special Needs Trust in North Carolina
It’s National Developmental Disabilities Awareness Month: Secure Your Loved One’s Future With a Special Needs Trust in North Carolina Raleigh, NC. – February 23, 2023. In honor of March 2023, Developmental Disabilities Awareness Month, the Trusts and Estates Law Group shares valuable advice about why North Carolina families should consider setting up a special needs…
Read MoreHow Can I Get Help Paying for Skilled Nursing or Assisted Living in North Carolina?
If you’re planning to enter a skilled nursing home or assisted living facility, you can either use your own income and assets or you can qualify for Medicaid or Special Assistance. Medicaid and Special Assistance will cover long-term care expenses, unlike Medicare and most health insurance. While many Americans have Medicare, Medicare only offers temporary…
Read MoreNomination of Guardian
If a loved one suddenly becomes incapacitated without a power of attorney, who makes decisions on their behalf? You can petition the court to become the legal guardian of a minor child or incapacitated adult if the person did not name an agent under power of attorney (or in the case of a child, did…
Read MoreWho Will Make Medical Decisions for You if You Can’t?
A Health Care Power of Attorney and an Advance Directive for a Natural Death, also known as a living will, are written documents that ensure that an agent can make health care decisions on your behalf, even if you are incapacitated or otherwise unable to communicate for yourself. This combination of these legal documents and…
Read MoreGuardianship Disputes: What Decisions Can the Court Make?
When the court appoints a guardian, disputes can arise between the ward, the guardian, friends, or family members. If you disagree about who the guardian should be or if a guardian is necessary in the first place, having a lawyer on your side can help you navigate the guardianship petition or appointment. Why Would a…
Read MoreLiving Trusts and Taxes: What You Need to Know and How to Properly Prepare
If you’re considering creating a living trust to avoid probate, you should understand the tax consequences of these trusts. Read on to learn what you need to know about taxes on living trusts, then contact our the Trusts and Estates Law Group to schedule a consultation. What Is a Living Trust? A living trust or…
Read MoreWhat You Need to Know About Irrevocable Trusts in North Carolina
Irrevocable trusts offer some benefits that revocable “living” trusts do not. But those benefits come at a cost. Before creating any type of irrevocable trust in North Carolina, you need to be aware of certain factors. Be Sure You Understand the Terms There’s a reason most people work with an experienced attorney when creating an…
Read MoreEstate Planning in the Digital Age: Are You Fully Prepared?
Chances are that you have more digital assets now than you did when you created your estate plan—even if it was only a year ago. We are all acquiring new digital assets at an astonishing rate. Do you know what will happen to those assets if you become incapacitated? What will happen after your death?…
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