- Advance Directives
- Asset Protection
- Business Succession
- Charitable Gift Planning
- Elder Care
- Estate Planning
- Estate Tax
- Financial Planning
- Fraud & Financial Abuse
- Gift Tax
- Health Care
- Income Tax
- Life Insurance
- Living Trusts
- NC Income Tax
- North Carolina Department of Revenue
- Nursing Homes
- Pending Legislation
- Powers of Attorney
- Qualified Plans
- Real Property
- Social Security
- Special Needs Planning
- Tax Fraud
Estate Planning and Real Estate Titles in North Carolina
Posted on: January 21st, 2014
Some families attempt to manage their own estate planning. For those who own a home and plan to eventually leave the home to children or other relatives, they may change the way the property title is held in an effort to make the transfer of ownership easier upon their death. However, without the counsel of a North Carolina estate planning or tax lawyer, these do-it-yourself methods may result in significant tax liability for the children....
Mistakes in Beneficiary Designations
Posted on: January 3rd, 2014
Beneficiary designations are an important tool in estate planning – one must always remember that their terms trump the distributions provided in a decedent’s Will. Retirement accounts, life insurance, and other assets offer owners the power to entitle individuals to these assets upon the owner’s death. Errors could cost a surviving family member their expected share of a loved one’s estate, pass assets to an unintended party, incite family conflict, or cause unnecessary tax burdens for beneficiaries....
Elective Share Changes in North Carolina
Posted on: November 5th, 2013
Provisions in a Will in favor of a spouse are revoked in divorce in North Carolina, however beneficiary designations are not revoked. Beneficiary designations for life insurance policies, as well as retirement accounts must be updated in order to prevent an ex-spouse—or a soon-to-be ex-spouse—from being legally entitled to these assets. ...
Equitable Distribution Process in North Carolina
Posted on: October 25th, 2013
Claims for equitable distribution in North Carolina are only valid if they are made after the date of separation and before the date of divorce. When filed timely, the process starts with identifying marital and separate property....
Top 5 States for Dynasty Trusts
Posted on: October 17th, 2013
Dynasty trusts in North Carolina offer creditor and asset protection for future generations while at the same time legally bypassing certain taxes. ...
BVI Accounts Under Scrutiny in 2014
Posted on: September 23rd, 2013
A new law will reveal more details about United States taxpayers who maintain accounts in the British Virgin Islands. Starting in 2014, the BVI will need to provide account information about US taxpayers in order to comply with the new legislation....