Free Estate Information Guide
Keep track of your estate assets for future generations. Get this instant downloadable PDF you can print and bind to use as a tool for your family’s legacy.
FREE ESTATE INFORMATION GUIDE
Keep track of your estate assets for future generations. Get this instant downloadable PDF you can print and bind to use as a tool for your family’s legacy. .
Even though 70% of individuals older than 65 now will need long-term care in the future, health insurance and Medicare do not cover long-term care costs. Medicaid may cover all of your long-term care costs if your income and assets are below the set levels in North Carolina. Learn about the requirements to qualify for Medicaid while also maximizing your standard of living.
You may wonder whether to form an LLC taxed as a partnership or a corporation taxed as an S corporation. When starting a new business, this one decision can cost or save your new business thousands. However, with a bit of thought, you can make the best tax structure designation for your new business.
It’s challenging to think about a world where we no longer exist, but planning for that day makes life better for those we leave behind. With bank accounts, the inheritance rules are relatively simple in North Carolina. Let’s look at how your money is distributed after death and the disadvantages inherent in joint bank accounts.
If you are getting older and wondering how you will care for yourself in the future should you need help, now is the time to learn about your options. A guardianship is not always necessary when someone can’t care for themselves. The state of North Carolina recognizes alternatives to guardianship, including limited guardianship. But what exactly is a limited guardianship, and how does it help an individual who needs care?
If you are planning a wedding, the excitement of the big day and the honeymoon to follow may be the extent of your thoughts. It is easy to get swept up in the excitement of finding someone to spend your life with. It is also easy to forget that marriage is a legally binding contract. Because of its legal nature, it is just as important to think about the legal ramifications of your new status. Let’s look at how your estate plan changes with a first or subsequent marriage.
As you grow older, you may eventually need a caregiver. It is difficult to accept this truth, but living in denial that your health could fail is not wise. Our culture in the United States often values autonomy, independence, and doing it yourself. However, if a medical event forces you into incapacity and you need a caregiver, wouldn’t you like to decide who that person will be? The essential difference between guardianship and power of attorney is one of choice.
Sometimes we find ourselves in situations that we did not plan. Unexpected death or incapacitating illness may keep us from caring for our children. Mental illness, drug addiction, a prison sentence, or general incompetence can all leave our child with no caregiver. Because no one knows what the future holds, it is crucial to name a guardian for your child.
Trust protectors play a relatively new role in the life of a trust. They give a type of long-term trust protection by acting with power over trustees and beneficiaries alike. A trust protector serves as an appointed authority over a trust for a time. Trust protectors ensure that trustees: Maintain the integrity of the trust and make solid decisions.
The court orders a guardian for anyone who is severely disabled, incompetent, or incapacitated and needs help to live safely. If the court desires to appoint someone you do not want to care for you or that other family disapprove of, you may contest the guardianship. But what happens when you contest a guardianship?
When someone passes away, what they leave behind is called their estate. Estate administration is the process of distributing their assets among the heirs. If the decedent had an estate plan and will, the administration process may be smooth and uncomplicated. However, a large estate with no will or other papers may be more difficult for an administrator to settle. Let’s look at exactly what estate administration is and how it works.
As North Carolina Attorneys, we serve people and businesses all over the State of North Carolina with assistance on a variety of legal issues.
(919) 244-20192314 S. Miami Blvd., Suite 151 Durham, North Carolina 27703
2314 S. Miami Blvd., Suite 151
Durham, North Carolina 27703