When you create a will, you hope everyone will understand and respect your wishes as far as the distribution of your property when you die is concerned. And most often, this is exactly what happens. But it is not uncommon for the will probation process to turn...
Your will should have an executor to ensure everything goes according to your plan. An executor has numerous duties besides taking your will to probate. They will manage the estate before distribution, pay debts, file tax returns and so on. However, in some instances,...
Estate planning is crucial, yet some people avoid it, at least until later in life. You should create your estate planning documents sooner, stating your wishes. It can be challenging for the court to handle your estate and determine who gets what. But why do people...
Many people have heard that there may be significant financial, tax-related, legal and estate-related advantages to creating a trust. Yet, not everyone has taken the step Before you start working with a legal professional to create a trust, you’ll want to communicate...
Those serving as estate executors cannot sell the decedent's real estate without taking a few steps. Since the real property is part of the estate, you must comply with North Carolina laws to sell the land or home. In many situations, an executor must obtain...
It is a smart step if you are considering creating an estate plan while you are younger. Creating an estate plan requires your time, effort and attention. The sooner in your life you start your estate plan, the more likely you will have all the necessary documents in...
A payable-on-death (POD) account is a type of account designed to transfer money to a beneficiary. You can create this account initially, or you may be able to change accounts that you already hold into this format. Either way, you will be asked to choose a...
During estate planning, people tend to focus on big-ticket items, such as real estate, vehicles, business, retirement plans and personal investments. While these assets have a high monetary value, they’re usually more straightforward and less contentious than other...
In some cases, a person may write their will and estate plan so that it leaves all of their assets directly to their spouse. Since the assets do not go to anyone else, this is often called an “I love you” will. It is designed just to demonstrate affection and show the...
It felt like an honor to be asked to be the executor of your loved one’s estate. You never imagined that actually performing your duties would feel like such a burden. It’s not the actual process of securing the estate, managing the probate filings or paying your...