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 »
This is a common question. Generally speaking, I actually advocate for clients to consider an Advanced Healthcare Directive which is a legal document combining both a Living Will and a Healthcare Power of Attorney. In this document, the Living Will allows you to express your personal wishes regarding life prolonging healthcare decisions in the event you
What Is A Living Will And Do I Need One? Read More »
On the legal side of estate planning, it’s important to ensure that all of your documents are legally sound and meet all the requirements for your specific needs. In this regard, hiring a specialized estate planning attorney is generally a smart move. As an estate attorney in the Lake Norman area who not only drafts
How Can A Professional Help Me With Estate Planning? 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 »
A Living Trust is a legal document where you transfer title of your assets into a Trust. The Living Trust is controlled by you. After your death the assets in trust remain legally bound to the provisions you appointed in the Living Trust and are thereafter only controlled by individuals or institutions that you specifically appointed. A
What is a Living Trust and When Should I Establish One? Read More »
If you have a child or grandchild with special needs, it is extremely important to plan carefully for their future. For most families with a special needs child, having a Special Needs Trust in place is crucial. In a nutshell, a Special Needs Trust allows for supplemental money to be set aside for the child’s welfare without
Special Needs Trusts: Essential for the Welfare of Most Special Needs Children Read More »
The Secure Act, though valuable in many ways, essentially abolished the Stretch IRA estate planning strategy. I get asked about this a decent amount. Here is a good article on the subject. As always, feel free to contact us should you have any questions.https://www.marketwatch.com/story/the-stretch-ira-estate-planning-strategy-is-gone-here-are-4-other-options-11599145076
Alternatives to the now defunct stretch IRA Read More »
Have you ever thought about your digital property and its role in your estate plan? Usually, your online accounts will depend upon the law in your state, what type of online account is involved, and the terms of service governing the online account. However, there are ways to incorporate your digital assets in your will
Digital Property and Your Estate Plan Read More »
