Wills, Trusts & Powers of Attorney

PLANNING FOR FUTURE EVENTS

Nobody can avoid death and taxes. Did you know you can't avoid estate planning? North Carolina law has a default plan. If your property doesn't pass by a will or will-substitute, it will pass through public probate under North Carolina intestacy law. Click to learn about your default “intestate” plan under North Carolina law. If you don't like your default plan, consider the following when creating your own:

  1. Elect Who will get your wealth and When.
    • Decide what property you want to pass publicly under the terms of your will or privately under will substitutes like life insurance beneficiaries, trusts, etc.
    • Give generously during your lifetime so that you can get the satisfaction of seeing your wealth at work. Moreover, lifetime gifts can have significant tax advantages. Revocable trusts give you control over how your assets are used both during your lifetime and after.
    • Review your beneficiary designations every time your circumstances change. Remember, property passing outside probate won’t be controlled by your will.
  2. Ensure your wishes for medical care are followed when you can’t speak for yourself.
    • Use a Living Will to give clear guidance on your preferences for medical care .
    • Select a Health Care Power of Attorney to ensure your medical decisions are followed when you can’t enforce them yourself.
  3. Enable someone to make legal and financial decisions for you.
    • Make someone you trust your Power of Attorney.
    • Make sure the Power of Attorney’s authority doesn’t expire when you need it most (i.e. when you can’t legally make decisions for yourself due to an illness or injury). This can result in guardianship proceedings which can place additional stress on your loved ones.
  4. Entrust your dependent or minor children to a willing and trustworthy friend or family member.
    • Designate that person in your will.
    • Consider creating a revocable trust so that your dependent children have immediate availability to funds when you pass away (probating an estate can take months to years).

Of course, these are only a few considerations in future planning. Be proactive and ensure your wishes are followed by scheduling an appointment today! As a current Registered Nurse with 8 years of medical field experience, I can help you work through deeply personal decisions about your health care wishes and make sure your wishes are followed. Our relaxed office setting is a perfect place to sit down and talk.

Click here to schedule an appointment with Paul today!

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The first step in resolving your issue is to become informed. I look forward to meeting with you to listen to your concerns and to help you plan the best way to deal with whatever you are facing. Click below to schedule an initial consultation now.

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