There
is much to consider when planning for the future care of loved ones for
residents of North Carolina. Some examples of considerations are: 1) the way in
which assets will be distributed after a person passes on, 2) naming trusted
individuals to have power to make health care and financial decisions for you
if you lose the capacity to do so, 3) the disposition of non probate assets,
and 4) naming fiduciaries and guardians for minor children.
Proper
estate planning ahead of time can save major headaches for loved ones in the
future. Typical estate plans will include documents such as a Will, a Durable
Power of Attorney, a Healthcare Power of Attorney, an Advanced Directive, and
in some cases certain Trusts. If you are
interested in creating a Will, Power of Attorney, or other estate planning
tools, it is a good idea to contact a Charlotte Wills Attorney to obtain
professional help.
In
some cases, creating a trust may be appropriate and desirable. Some examples of situations where a trust may
be desirable are 1) parents are planning for minor children, 2) it is desirable
to avoid the public nature of the probate process, 3) it is desirable to avoid
probate fees, 4) it is desirable to have professional management of assets for
the benefit of others, and 5) where planning for estate tax issues necessitates
consideration of a certain trust. A Charlotte Trusts Attorney can be of great assistance in the process of creating trusts,
advising on transferring assets to trusts, and trust management for those in
the Charlotte, North Carolina area.
