Currently, only 65% of families in North Carolina and elsewhere in the United States are considered traditional ones. These are described as ones with a single mom and dad and kids. All other families are blended, childless, inter-religious, inter-racial, those led by...
wills & estates
Beware! E-wills aren’t legal in most states
Every few decades, there's a new generation of millionaires that emerge. These young people often bring with them their nuanced ways of making money. New generations also bring with them ideas for changing how things have been historically done. One of the things that...
Why is estate planning key, even for singles?
Many individuals who are tasked with saying what comes to mind when they hear the term "estate planning" often mention wealthy, elderly individuals with kids drafting wills. This phrase means so much more than that though. Estate planning is an important process that...
How can you best preserve your eligibility for Medicaid?
It becomes increasingly important for a Medicaid recipient to engage in estate planning as they age. If they don't, then they risk losing access to the benefits that they rely upon for their long-term medical care.Most individuals qualify to receive Medicaid provided...
Make sure that your will is valid in North Carolina
A will is one of the most important parts of an estate planning arsenal. It details what you want to happen with your hard-earned money and most prized assets once you've passed away. It can also spell out your final wishes concerning burial or the scattering of your...
Beware of what may cause you to lose your Medicaid benefits
Many individuals who participate in government programs such as Medicaid rely on the benefits that they receive for their survival. They wouldn't want to do anything that would jeopardize their access to health care or the other benefits they receive. It's important...
Why should you plan your estate while expecting your first child?
When North Carolina parents find out that they're expecting a child for the first time, they often research what pregnancy is like, think about setting up a baby registry or pick out potential names for the child. It's unlikely that planning for their estate is at the...
Will my heirs be motivated by an incentive trust?
One estate planning tool you may want to consider is an incentive trust. While some believe they are a form of bribery as the heirs literally receive funds from toeing the line and/or hitting designated life milestones, others benefit a great deal from the...
The steps that you take before you retire can affect your future
The older most of us get, the more most of us start thinking about our retirement. While it's important for us all to make plans along the way to get our finances in order for when we retire, those last 10 years before we do are the most critical. Steps that you take...
What traits should you look for when choosing your executor?
One of the most crucial aspects of developing your estate plan is determining who to name as your executor. This is the person who will oversee the disposition of your assets to your heirs and beneficiaries as you've designated. Your executor will also be responsible...
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