What’s the Difference Between a Will and a Trust?
Wills and trusts are two very different kinds of documents used in estate planning. Everyone needs a will, but not everyone needs a trust. Knowing the difference will help you to understand what you need. What is a Will? A will is the cornerstone of an estate plan. It’s the legal document by which…
Read MoreCOVID-19 Reminds Us of Importance of Estate Planning
It’s fair to say that we are living in a new age of uncertainty with the COVID-19 pandemic. Concerns over the pandemic have “led to a skyrocketing demand for wills, even among those who aren’t senior citizens,” according to an ABC News report. No one wants to be ill or face the prospect of a…
Read MoreWho Takes Control of Your Digital Assets When You Die?
As you consider what you will pass on to your heirs and other beneficiaries, do not overlook your digital assets. If your virtual property – anything from digital music you’ve bought to website content, Bitcoin or other cryptocurrencies – has value, then proper estate planning can ensure you’ve designated what happens to it when you’re…
Read MoreTips for Creating an Estate Plan that Benefits a Child with Special Needs
Establishing an estate plan that provides for your family after you are gone is a gift to the ones you love. If a special needs child is among your loved ones, there are specific steps you can take to ensure their additional financial and care needs are addressed. The Trusts and Estates Law Group, has…
Read More10 Important Estate Executor Duties to Fulfill After a Death
Being chosen executor of an estate indicates that you are capable and trustworthy. You are most likely a family member, a close friend or attorney of the individual who has asked you to ensure their final wishes are carried out. While being named the executor, or personal representative, of someone’s estate is somewhat of an…
Read MoreDying Without a Will — NC Intestate Chart
Dying Without a Will in North Carolina In North Carolina, when you die without a will, it is known as having a dying “intestate”, meaning that a local probate court will appoint an administrator to distribute your assets according to the requirements of North Carolina probate law. They must follow state intestacy laws that try to…
Read MoreAttorney Andrew Cobin Interviewed on WPTF
Attorney Andrew J. Cobin, a partner at the Trusts and Estates Law Group, recently appeared on a segment of WPTF’s Triangle Afternoon News program to answer questions about wills and estate planning with radio hosts Rick and Donna Martinez. He discussed some of the basics of planning for the various phases of life. Andrew Cobin…
Read MoreHow to Handle Estate Planning Amid Family Friction
Often the biggest obstacle to estate planning revolves around family dynamics. How parents, children, siblings and others interact with one another can guide or derail a plan for efficiently transferring assets from one generation to the next. The start of the estate planning process can stir up family friction if discussions of inheritance begin and some…
Read MoreHow Elder Law Will Look Like After COVID-19
Just as so many baby boomers and other Americans are entering the stage of life when they want to reap the rewards of a lifetime of work, the COVID-19 coronavirus has disrupted everything. Those of us who assist seniors with elder law matters are seeing the changes from both sides as we adapt and work…
Read MoreAmericans Rush to Make Online Wills Amid Coronavirus Pandemic
As the coronavirus spreads throughout the United States and projections indicate that tens of thousands of people will succumb to the deadly virus, various publications are reporting that Americans are rushing to create wills through online services. While having a written will is advisable, making a will online can be a costly mistake. The attraction…
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