Family-owned businesses often serve as the cornerstone of financial stability and legacy. However, ensuring that the business thrives through future generations requires careful succession planning. A well-structured plan can help avoid disputes, minimize tax...
When someone passes away, the will plays an important role in dividing the assets. However, a missing or damaged will can create confusion and delay the probate process. What happens if a will is missing? Probate is the legal procedure that verifies a will and...
Estate planning is an important step that allows you to take control of your future and make sure your loved ones are cared for after you are gone. Many people wonder when they should begin estate planning, and the answer is simple: sooner is better. The earlier you...
DIY estate planning might seem like an easy and cost-effective solution, but it comes with significant risks. Creating a will or trust on your own can lead to mistakes that could have serious consequences for your loved ones. Understanding these risks can help avoid...
The probate process can be overwhelming, but North Carolina provides an easier option for qualifying small estates. Small estate procedures allow heirs to avoid the complexities of full probate, saving both time and money. Understanding how these procedures work can...
Estate planning is important when it comes to protecting your assets from Medicaid recovery. Being aware of a few strategies to follow can help you safeguard your assets for your heirs. What is Medicaid asset recovery? Medicaid asset recovery is a process by which the...
During probate, creditor claims can slow down the process, reduce the value of the estate, and create complications for beneficiaries. Understanding how these claims affect probate and how to manage them helps make the process smoother for everyone involved. Reviewing...
Many people in North Carolina might wonder if setting up a trust is something only wealthy individuals can benefit from. The common misconception is that trusts are complex financial tools used only by the rich to manage their large estates. However, trusts offer...
The timeline for settling an estate can vary based on several factors and legal requirements. The person assigned as executor usually manages and distributes the deceased person's assets according to their will or state laws. Understanding the breakdown of the process...
Creating an estate plan is a significant step that involves careful thought and consideration. However, when undue influence occurs, it can disrupt this process, leading to decisions that do not truly reflect the person's wishes. In North Carolina, it's crucial to...