When a loved one passes away, someone must manage their estate through the probate process. In North Carolina, the person chosen for this responsibility is known as the executor. But what exactly does an executor do, and how do they fulfill their duties?...
Creating a comprehensive estate plan offers peace of mind, knowing that you will manage your assets according to your wishes. Two powerful tools for estate planning are a living trust and a pour-over will. Each serves a distinct purpose, but together, they provide...
Ancillary probate happens when a person who passed away owned property in a state different from where they lived. The main probate case takes place in their home state, but a separate probate process is needed for property in another state. This process ensures the...
Joint ownership of property directly influences how assets transfer after an owner dies. Understanding the different types of joint ownership and their impact on probate helps property owners make informed estate planning decisions. Types of joint ownership Two main...
When a loved one dies without a will, families often struggle to manage the probate process. Without clear instructions, state laws determine asset distribution. Families can take specific steps to navigate probate smoothly and avoid unnecessary delays. Understanding...
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...