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If you have agreed to be the executor of an estate, you may be wondering how to succeed in such a critical role. Common mistakes Being the executor for someone’s estate is a time-consuming and difficult undertaking. Making a mistake with something so important is the...
Naming an executor is an essential element of a will. The executor's role is to secure assets, pay debts and estate taxes, then distribute what remains according to the deceased's final wishes. Being chosen as an executor speaks to the person's integrity and perceived...
Unless you exercise care when creating your estate plan, there is a chance that the decisions you make during the process may create conflicts among your children after you die. By starting early and creating your estate plan while you are of sound mind, you may be...
North Carolina residents often have questions about probate during the estate planning process. Understanding how probate works in the state can help inform your decisions. Review these aspects of North Carolina probate when planning your estate. Defining probate...
If you expect to leave assets to your loved ones, you may have concerns about the taxes they will pay on your estate. While North Carolina no longer has an estate tax, your assets may be subject to federal taxes. Review the federal tax guidelines as you plan your...
Distributing possessions to your children is a challenging part of settling an estate. It is more difficult dividing personal belongings compared to money. Planning ahead of time how you want to divide your jewelry, dishes, furniture, photos, artwork, clothing or...
Even though estate plans have historically focused on tangible assets like a home, classic cars or family heirlooms, a significant portion of modern lives are being lived online. While you can’t necessarily hold a digital avatar, these online assets can be just as...
Like most of us, you want to be in charge of your own medical care. Right now, you can express yourself to your doctors and participate in decision making about your care. For example, you can choose if you want to take a medication that carries potentially serious...
You know a will is important for taking care of your family after you pass, and it remains one of the pillars of estate planning. But it’s not the only document you’ll likely need if you also want to take care of yourself. Only 1/3 of Americans have a health care...
