When it comes to estate planning, simply having a will or trust in place isn’t enough; maintaining an up-to-date plan is essential. Life changes and evolves, and so should your estate plan to reflect your current wishes, financial status, and family situation. Below, we’ll explore how frequently you should review your estate plan and the […]
How Often and Why You Should Review Your Estate Plan Read More »
When it comes to building a legacy, few estate planning tools offer the same long-term impact as a dynasty trust. This powerful trust allows individuals to protect and grow their wealth across multiple generations, providing stability and financial security to their descendants. If you’re considering a dynasty trust, consulting an estate planning lawyer or trust
Dynasty Trusts: Securing Wealth for Future Generations Read More »
As parents, ensuring the well-being and security of our children is our top priority. In the realm of estate planning, appointing a guardian for your children is a crucial step in providing for their care and protection should anything happen to you and your spouse. In this guide, we’ll explore the importance of guardianship, how
How Does Guardianship Work? Understanding Guardianship in Estate Planning Read More »
Unlikely events can and do happen. If both parents of children die simultaneously, say in a vehicular accident, then who cares for their children? Who raises their children? Who determines how the money they leave behind for their children is spent? Guardianships and wills are essential for parents of minor children. These tools allow parents
Guardianships Are Essential for Parents of Minor Children Read More »
Estate planning is important for everyone, but it is especially important for business owners. Not having an estate plan in place can cause big problems for your business and your family. Estate Planning Can Avoid Probate If a business owner dies without an estate plan, the business will go through probate. This means a timely
Estate Planning Is Essential for Business Owners Read More »
The answer to this question depends on the value of your estate at the time of your death. As of July 2022, the federal estate and gift tax exemption amount is $12.06 million, indexed for inflation. For married couples, the amount doubles to $24.12 million. This is the highest the exclusion has ever been in
Should You Be Concerned About Estate Taxes and Consult An Estate Attorney? Read More »
Perhaps it’s a matter of the memorable name, but as a trust attorney I get this question a fair amount. Q-TIP stands for “Qualified Terminable Interest Property.” It is a type of trust designed primarily for individuals with children from a previous marriage. A Q-TIP Trust manages two basic functions in this scenario. First, it
Since I Have Children From A Previous Marriage, Should I Consider a Q-TIP Trust? Read More »
The likely answer is “yes.” If you are single, don’t have children, have no financial assets, have no personal property of value, and don’t have a positive net worth, then you probably don’t need a will. For everyone else, the answer is “yes.” If you have minor children and die without a will, a court
Do You Need a Will? Read More »
As an estate administration law firm serving the Lake Norman area, we hear from a lot of people struggling with the probate process. Probate can be quite overwhelming, even for the most financially and organizationally adept individuals. Here are the top reasons we find people seeking help from a probate attorney. Quite frankly, the number
Top Reasons Our Clients Seek Help With Estate Administration, Also Known As Probate Read More »
