In General
By definition, an estate plan is an arrangement for your assets and debts upon your incapacity and death. The law has a default estate plan for us all called Intestacy. This default arrangement is often more costly than the plan you would make and it will never take into account your personal preferences. In fact, in North Carolina, most of the decisions will be made by the Clerk of Superior Court or one of her agents using the law of Intestacy as well as any relevant local rules. Although the Clerk will do her best to oversee the administration of your estate – along with the other thousands of estates for which she is responsible – this procedure will most often not reflect the choices you would have made for yourself had you used the opportunity you had during your life and good health to put your own preferences in writing.

If you create an estate plan before you die or become incapacitated, it will take into account at minimum your ABCs. That is, your Assets, Bills, and Children. And a complete estate plan will also cover your health care during your life. If you take the time to prepare an estate plan, before you pass away, it will always more preferable and less expensive than the alternative default arrangement the law has in place for you. These estate planning basics will help guide you through the beginning stages of the process and hopefully help set your mind at ease.

The typical tools used by an estate planning attorney are: Wills, Financial Powers of Attorney, Health Care Powers of Attorney, Living Wills, and Trusts.

Wills
We have all heard of Wills. A Will is a legal instrument allowing a person (the “testator”) to safeguard his right to control how his estate will be administered, within the bounds of the law, after his death. A Will is a formal writing in which you describe your assets (your “estate”), the people you choose to receive property you specify (the “legatees” and “devisees” or collectively “beneficiaries”), the person you choose to handle your estate (the “Executor” or “Executrix), and they allow parents to nominate a guardian to continue the raising and care of minor children. A Will is only effective at the point of your death. Until then, it can be modified or revoked by you during your life as long as your mental faculties have not been impaired. Upon your death, your Will must be submitted for probate.

Because of their importance, there are many requirements North Carolina places on the fitness of your Will for probate. Wills must be carefully drafted, executed, and maintained so as to meet the probate requirements of North Carolina law. The circumstances surrounding the drafting of your Will must be free of evidence which negates a finding that your “free will” dictated its drafting. Factors such as the Undue Influence of others, Fraud, Duress, Mistake, or Incapacity can be the basis of a Will Contest. If your Will fails to meet the probate requirements of North Carolina, it will be set aside as a non-will document and the Clerk will determine that you died Intestate.

Financial Powers of Attorney
In it simplest form, a Power of Attorney is a document you would sign in which you give another person the legal authority to represent you and act on your behalf. A Financial Power of Attorney is necessary in those circumstances in which a third party such as a bank, mortgage company, insurance company, etc. requires written proof of legal authority before they will even talk to your representative or Attorney in Fact. Powers of Attorney are only effective until the moment of death.

The secret to having an effective estate plan is to have it all drafted up and ready BEFORE you need it. As much as I hate it, sometimes I have to turn away people who seek my services for their relatives who may already have some sort of cognitive impairment. It is usually, the child, spouse, sibling, or friend of the person who needs the document who is then seeking my services as an attorney. Unfortunately, most of the time, it is already too late for this. Their relative’s dementia, Alzheimer’s, or mental illness precludes their having the legal capacity to sign these documents as required by law. And no attorney will touch this engagement. This is a tragedy.

Most of the time this only hurts the caregiver. They may be in a situation where they have been paying all of the bills for their sick relative and are now at the point where they need their relative to chip in for some of the expense for their care and food and housing. But the caregiver does not have the authority to access the sick relative’s funds. Unfortunately, if the caregiver is coming to me, I know: 1) there is no power of attorney in place, 2) their relative is either too sick or often too stubborn to sign any legal documents, and 3) the situation is getting desperate and complicated. At this point, there is nothing in the planning stage I can do and the only legal option I can recommend is a guardianship.

Guardianships
Guardianships are another default arrangement provided under the laws of North Carolina for those who do not plan their estates properly. The Guardianship process is an expensive court process in which a person is subjected to extensive intrusion into their privacy, hygiene habits, medical condition, home life situation, etc. It is something to avoid at all costs, if possible. In North Carolina, because of their complexity and demanding requirements, many attorneys would not consider undertaking the Guardianship process with less than a $3,000 retainer fee – just to get started. By contrast, a Durable Financial Power of Attorney costs nearly one-tenth of this amount.

Guardianships are an on-going court supervised procedure. After a hearing where witnesses give their testimony about you, the court will make a determination and appoint someone she has selected to be in charge of your healthcare matters. This person will be the Guardian of the Person. If you do not have a pre-existing Durable Power of Attorney, you will have missed the opportunity to have a say in who the court may appoint in this very personal capacity. The court will have to just exercise her best judgment and pick someone.

The court will also appoint an attorney to be the Guardian of the Estate. This attorney will charge the incompetent person an hourly fee to handle his financial affairs. This includes an annual accounting. Attorneys charge anywhere from $200.00 to $400.00 per hour for these services. Thus, the sick person’s estate is severely diminished by, not only the expected costs for their care, but also by on-going court and attorney fees that could last until the death of the incompetent.

Back to Financial Powers of Attorney, these documents have many different variations which may or may not be appropriate for your circumstance: There are general, specific, special, limited, durable, shifting, and springing Financial Powers of Attorney. Some have to be recorded with the Register of Deeds to be effective, others do not. Just be careful in the version you and your attorney ultimately select.

Health Care Power of Attorney
A health care power of attorney allows you to name a person you trust to be your health care agent to see that doctors and other health care providers give you the type of care you would wish to receive if you could speak for yourself. For example, your health care Attorney in Fact would be consulted about your care regarding something like whether you would want a transfusion, a limb amputated to improve your changes of survival, etc., they would also share your medical issues with emergency room or surgical personnel.

In these documents you are essentially asking a trained medical professional to consider the opinion of your agent in your treatment who may not be a medical professional but a relative or friend. Because this has been the subject of litigation, North Carolina has enacted certain laws for more uniformity in this type of Power of Attorney. There is now a way to register them with the Secretary of State.

Living Wills
Living Wills are similar to Health Care Powers of Attorney but they govern your End of Life matters. Whether you would want to be artificially kept alive, to withdraw or not withdraw food or treatment. This document is helpful should you have an illness or injury from which a doctor believes you would not recover. This document, unlike the health care power of attorney, allows you to speak for yourself.

Trusts
Trusts are the estate planning vehicle which allows a person to accomplish the most. They allow you to minimize taxes and estate fees (which can be exorbitant), they streamline and speed up the administration process, and they take your personal business out of the public realm. Trusts are effective and govern your affairs during and after your life.

A trust is a legal arrangement in which one person gives to another person – called a fiduciary – the responsibility of following instructions that benefit a third party – called a beneficiary. There are an infinite variety of trusts but the most common is the Living Trust or the Revocable Trust. With a trust you can avoid probate, you can dispose of your assets as you wish, you can arrange for your family members to receive a certain amount of money every month or every year, and you can make provision for your health care. These documents are very helpful and allow you to create a lasting legacy.

And the beauty of trust planning is that you don’t have to have this money sitting in the bank. Your trusts can be funded with your life insurance policy as long as you take appropriate steps before you pass away.

There are many types of trusts. The most commonly used are: Revocable, Irrevocable, Testamentary, Inter Vivos, Living Trusts, Family Trusts, Charitable, Grantor Retained, Insurance Trusts (or ILITs), Real Estate Trusts, and Special Needs Trusts. Each trust has its own particular purpose and can be skillfully drafted to meet a number of needs and goals.

Parents are particular fans of Trusts due to the control a Trust allows the parent to retain as to when their child receives money. Without a Trust, a child who is the beneficiary of their deceased parent’s life insurance policy, would receive a windfall of cash upon his 18th birthday. This can be rather destructive for the child. A trust allows a Testator to place conditions on receipt of money. This way a parent can sort of “be there” for their children, even after they have passed away. Because of their desire for “continued parenting” after death, one type of trust which is creating some excitement for parents who prepare is The Incentive Trust (see further discussion herein). Well there you have it, my guide to the help you with basics of estate planning. The next step is to start putting together a checklist and download my initial PDF questionnaire available in the sidebar on the top of the page.

• Contact us as soon as possible to retain a lawyer of your own. Delay in obtaining legal counsel could further complicate your matter, reduce the amount you could recover, or make your case harder to support.
  

• Do not make any admissions to anyone about your fault or part in the accident.
  

• Do not sign any document or give any typed statement to accident investigators appointed by any other involved party in the absence of your legal advisor.
  

• Insurance companies perform their own investigation that could put you at a disadvantage. Thus, it is advisable to retain an attorney who can conduct a thorough investigation and pin down the liability on a potential at fault defendant.

Types of Accidents: Car Accidents, Semi-Truck Accidents, Motorcycle Accidents, Nursing Home Accidents, Product Defects, Construction, Highway, Medical Malpractice, Premises Liability, Workplace Injury, Burns, Explosions, Train and Locomotive Accidents, Guardrail Accidents, Wrongful Death, Other Accidents.

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

The Social Security Administration pays benefits to people who cannot work because they have a medical condition that is expected to last at least one year or result in death. Federal law requires this very strict definition of disability. While some programs give money to people with partial disability or short-term disability, Social Security does not.

In general, to get disability benefits, you must meet two different earnings tests:

1. A “recent work” test based on your age at the time you became disabled; and
2. A “duration of work” test to show that you worked long enough under Social Security.

Certain blind workers have to meet only the “duration of work” test.
You should apply for disability benefits as soon as you become disabled. It can take a long time to process an application for disability benefits (three to five months). Do not hesitate to contact this law office for assistance with preparing your application.

The information we will need to help you includes:

• Your Social Security number;
• Your birth certificate;
• Names, addresses and phone numbers of the doctors, caseworkers, hospitals and clinics that took care of you;
• and dates of your visits;
• Names and dosage of all the medicine you take;
• Medical records from your doctors, therapists, hospitals, clinics and caseworkers that you already have in your possession;
• Laboratory and test results;
• A summary of where you worked and the kind of work you did;
• A copy of your most recent W-2 Form (Wage and Tax Statement) or, if you are self-employed, your federal tax return for the past year.

Do not delay applying for benefits if you cannot get all of this information together quickly. We will help you get it.

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

Probate, also known as estate administration, is the process that occurs after a person dies and prior to his or her assets being distributed. In North Carolina, estate administration is governed by the North Carolina General Statutes as well as the rules of the Clerk of Superior Court in the county of the decedent’s residence. Administrators are responsible for being aware of these laws and rules and are charged with following them. Getting support from an attorney with estate administration experience allows the process to be implemented smoothly and efficiently.

This listing includes the first few steps a surviving family member may want to take. These responsibilities may ultimately fall on whoever is appointed executor or administrator. Note that matters can be a bit complicated in the absence of a will, because it may not be clear who legally has the responsibility of carrying out these steps.

It is often recommended that you do not make any long-term decisions about finances for at least six months to a year after your loved one’s death. However, your situation may be different. Please consult an attorney familiar with your particular set of circumstances for decision making advice.

1. Social Security Administration
Phone the Social Security office and notify them of the death. Also, check for eligibility of Social Security death benefits. Call the Social Security Administration at 1-800-772-1213 for more information on benefits for which you may be eligible.

2. Veterans’ Benefits
Call the Office of Veterans Affairs at 1-800-827-1000 to find the office nearest you. Benefits to a spouse and heirs may include pension payments and financial aid for education costs.

3. Safe Deposit Box
Determine whether or not decedent had a safe deposit box by contacting the banks where decedent had accounts. If you determine that the decedent had a safe deposit box, you will need to find the keys.

4. Estate Planning Documents
Find the will, all trusts, and any other estate planning documents. Usually these are kept in a safe deposit box (see above), in a home safe, or otherwise amongst the decedent’s important papers including insurance policies, contracts, bank statements, deeds, auto registration, etc.

5. Inventory Assets
Ascertain the existence of the decedent’s assets and inventory them including the following:

• Bank accounts
• Stocks and bonds
• Life Insurance policies
• Retirement funds: IRA accounts, Annuities, 401K, Pension, and Profit Sharing
• Real estate
• Household goods, furniture and personal belongings as well as antiques, silver, jewelry, furs, stamp collections, or coin collections.
• Business interests – determine whether decedent owned an interest in any business.

6. Receivables and Death Benefits
Investigate other benefits that may be available to the estate, including: social security and veterans’ benefits (see above), union death benefits, employee benefits such as accrued vacation pay, final wages, employee death benefits, reimbursements, refunds on insurance, canceled subscriptions, professional and trade associations, fraternity/sorority, school alumni, and automobile clubs. Unfortunately, government, employment, and membership organization benefits do not come automatically. You must apply for them within their timeframes.

7. Liabilities and Creditors
Ascertain the existence of the decedent’s liabilities and list them including the following: Mortgages, Other secured obligations, Current household bills, Expenses of last illness, and Funeral expenses, etc. IMPORTANT: Discuss any payments you make from or for the estate with an attorney. Considerable liability for the personal representative could result if these payments are not handled properly. Also, beware of swindlers who send phony bills and overcharge for services.

8. Proof of Payment of Expenses by Family and Executors
Be sure to get and keep bills, invoices, receipts, and canceled checks for payments of any and all expenses. The personal representative appointed will need to supply the probate court with proof of payment.

9. Papers and Mail of Decedent
Do not throw out any documents such as life insurance policies and certificates, even if the policyholder stopped paying premiums. The policy may still be in force. In addition, mail and letters may be needed to prove payment or ownership of assets later.

10. Protect Assets
a. Be sure and keep the insurance going on the home and on any personal property so that these assets will be protected during the probate period.
b. Secure valuable tangible property. This means anything you can touch, such as silverware, dishes, furniture, art work, etc. If property is passed around to family members before you have the opportunity to take an inventory, this will become a difficult, if not impossible, task. Also, there may have been specific provision for items of tangible property in the will.
c. Have someone watch your home (and the decedent’s home) during services. Sadly, burglars have been known to read obituaries to find out when no one will be home.

11. Clip obituary notices
Some insurance companies require a dated newspaper announcement in order to process claims.

12. Death Certificates
Order ten or more certified death certificates. Usually these can be obtained through the funeral home or the NC Department of Vital Statistics. A certified death certificate will be needed in order to begin the probate process. You will need certified copies of death certificates to claim Social Security and insurance benefits, change ownership of joint property, to enter safe deposit boxes and to file tax returns. Photocopies are often not acceptable. Here is the website for the NC Department of Vital Statistics: http://vitalrecords.dhhs.state.nc.us/vr/requests

13. Taxes
There will be tax concerns including filing requirements, communicating with federal and state tax authorities, and observing deadlines. Due to the extensive subject matter, please consult an estates attorney for more information. However, certain relevant tax returns are:

• Decedent’s Final Income Tax Return
• Gift Tax Returns
• Federal Estate Tax Return
• Generation-skipping Transfer Tax Returns
• State Inheritance and Estate Tax Returns
• Fiduciary Tax Returns

14. Minor Children
If other parent of decedent’s children has died as well, and there are minor children, a guardian is usually nominated in the will. A guardianship is required for minor children who would be receiving cash and/or valuable property in accordance with the decedent’s will. Always check the will as to whom the decedent named as guardian and custodian for the minor children. This mainly applies to those situations where both the mother and father have died and the children are under 18 years of age.

15. Do not miss Deadlines
Upon the death of a person, the clock begins ticking on certain important legal deadlines imposed on family members, fiduciaries, and beneficiaries by federal and state authorities. For example, you should contact Social Security and the Veterans Administration right away because a delay in applying can result in the loss of some benefits.

16. Consult with an Attorney
An attorney will help you determine if probate is necessary, and if so, what type of probate is necessary in order to handle estate obligations, transfer the assets of the decedent to the persons named in the decedent’s will or trust, or the decedent’s legal heirs. The attorney will take the first steps to initiate the probate process with the filing of the necessary court papers.

Bring as much information as possible about finances, taxes and debts. Don’t worry about putting the papers in order first; the lawyer will have experience in organizing and understanding complex financial statements.
And note, the costs for legal counsel are, with only a few exceptions, expenses of the estate and not costs the personal representative or family members have to pay out of pocket themselves.

In Conclusion: Probate is a Process that doesn’t have to be a Problem
Legal procedures are the furthest thing from your mind when a loved one passes away. There are many issues, however, that need to be addressed when a person dies – even if the person’s family is not ready to deal with those issues alone. Engaging a qualified estate attorney with experience in probate issues will enable you to take the best steps to minimize taxes, legal wrangling for the executor, family, and beneficiaries, and may save you money and stress in the long run.

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

1. You have the right to experience your own unique grief. No one else will grieve in exactly the same way you do. So, when you turn to others for help, don’t allow them to tell you what you should or should not be feeling.

2. You have the right to talk about your grief. Talking about your grief will help you heal. Seek out others who will allow you to talk as much as you want, as often as you want about your grief.

3. You have the right to feel a multitude of emotions. Confusion, Guilt, Responsibility, Disorientation, Fear, and Relief are just a few of the emotions you might feel as part of your grief journey. Others may try to tell you that feeling angry, for example, is wrong. Don’t take these judgmental responses to heart. Instead, find listeners who will accept your feelings without condition.

4. You have the right to be tolerant of your physical and emotional limits. Your feelings of loss and sadness will probably leave you feeling fatigued. Respect what your body and mind are telling you. Get daily rest. Eat balanced meals. And don’t allow others to push you into doing things you don’t feel ready to do.

5. You have the right to experience grief “attacks.” Sometimes, out of nowhere, a powerful surge of grief may overcome you. This can be frightening, but it is normal and natural. Find someone who understands and will let you talk it out.

6. You have the right to make use of ritual. The funeral ritual does more than acknowledge the death of someone. It helps provide you with the support of caring people. More important, the funeral is a way for you to mourn. If others tell you that rituals such as these are silly or unnecessary, don’t listen.

7. You have the right to embrace your spirituality. If faith is a part of your life, express it in ways that seem appropriate to you. Allow yourself to be around people who understand and support your religious beliefs. If you feel angry at God, find someone to talk with who won’t be critical of your feelings of hurt and abandonment.

8. You have the right to search for meaning. You may find yourself asking, “Why did she or he die? Why this way? Why now?” Some of your questions may have answers, but some may not. And watch out for the clichéd responses some people may give you. Comments like, “It was God’s will” or “Think of what you have to be thankful for” are not helpful and you do not have to accept them.

9. You have the right to treasure your memories. Memories are one of the best legacies that exist after the death of someone loved. You will always remember. Instead of ignoring your memories, find others with whom you can share them.

10. You have the right to move toward your grief and heal. Reconciling your grief will not happen quickly. Remember, grief is a process, not an event. Be patient and tolerant with yourself and avoid people who are impatient and intolerant with you. Neither you nor those around you must forget that the death of someone loved changes your life forever.

__________________
Excerpted from “The Mourner’s Bill of Rights” by Dr. Alan Wolfelt. For more information and resources on grief and loss contact The Center for Loss and Life Transition. Their website is www.centerforloss.com.”

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

Often, we know the source of potential drama. But sometimes we are not aware that certain aspects of our financial situations and relationship dynamics are breeding grounds for these conflicts. I call them HotPoints.

HotPoints are unresolved situations in our lives now that might cause problems later. I have included a few of these HotPoints here so you can see how they can help you detect problems which might arise later.

For instance:

HOT ESTATES: You will need to do some estate planning if…

1. You have been married more than once.

2. Your spouse has been married previously.

3. You have children from a previous marriage or relationship.

4. Your spouse has children from a previous marriage.

5. You have children from more than one relationship.

6. There is a possibility that an unresolved paternity claim exists for you or your spouse.

7. You have an estrangement or alienation from your spouse, child, or parent.

8. Your spouse has an estrangement or alienation from their child or parent.

9. Your spouse does not get along with a child or parent of yours.

10. There are any hard feelings, misunderstandings, jealousies, resentments, or unresolved conflicts between your close family members.

11. You are the primary caretaker or breadwinner for your family.

12. You don’t have any life insurance.

13. You are single.

14. You are unmarried and cohabitate with someone you share assets or children with.

15. You are gay and/or living an alternative lifestyle.

16. You own a business.

17. A family member has fallen prey to creditors, relatives or others with pecuniary or controlling agendas, scam artists, etc.

18. You have any family members who are known to stir up trouble, who are busy bodies, or who always feel like they are being treated unfairly.

19. Any of your beneficiaries or family members are difficult, angry, combative, litigious, suspicious, controlling, naïve, immature, or unintelligent people.

20. You have a child who is a minor or who is over 18 but still needs some parental guidance.

21. You are currently involved in litigation or could be sued in the future.

22. You have or your family has a history of health issues which compromise one’s ability to handle business or personal affairs.

23. You have a secret or aspects of your private life you wish to remain private or controlled.

24. There are any oral understandings about your estate or care that you have with family members but that are unwritten and which you assume will be followed.

25. Your family has real estate that has been passed down from generation to generation without a will or proper probates. Often this is called Heir Property and results in the loss of the land.

26. You have made major changes to your estate or beneficiary designations that your family is unaware of.

27. You have valuable assets in your estate that would be difficult to divide amongst your beneficiaries.

28. Any member of your family will be significantly hurt, disappointed, resentful, or offended by the share of your estate you leave them.

29. You do not actually have sufficient assets to carry out the plan for your estate.

30. You have tried to create a will or an estate plan by yourself.

31. The person you would like to manage your affairs has credit or legal issues.

32. The beneficiary of your life insurance is your estate.

33. The beneficiary of your life insurance is one person but you actually intend them to use the funds for a different person (often your child).

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

a. Hospital visitation of partner-patient
b. Decision making in health care settings
c. Hostility from family towards lifestyle
d. Hostility from family towards your partner
e. Ability to handle financial matters of partner
f. Clarity of ownership of real estate
g. Clarity of ownership of bank and investment accounts
h. Clarity of ownership of personal and/or household items
i. Inclusion in decision making of Funeral and Burial arrangements
j. Updating your estate plan for changes in your personal situation and life events
k. HIPPA authorization for access to medical records
l. Common caveat challenges of wills in probate (e.g., undue influence, mental competency)
m. Guardianship of domestic partner in incompetency proceedings
n. Provision for children in will
o. Pros and cons of joint ownership of real estate and other property
p. Advice on registering your Health Care Power of Attorney
q. Communicating one’s wishes to family and medical professionals

Sometimes domestic partners may be shut out of the decision making process you may have preferred he or she be in regarding your care. Or your partner may be deprived of his or her rights of ownership of property you two may have co-owned. The goal of this Law Office for your estate plan is a crisp, clear, comprehensive arrangement that anticipates the lack of support or even hostility your surviving partner may face from family, the law, and medical staff at the point of your illness, incapacity, and death. We will work together to achieve this security for you and your partner.

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

We all worry about the future. Because we can’t predict or control it. The best thing we can do is get ready for it. Drafting your will is a great way to eliminate unnecessary stress about the unknown. By putting in writing what our plans and wishes are, we reduce worry for ourselves and our families about the future.

Think about it, we are stressed out about the people and things in our lives that are important to us. We want to make sure our family is taken care of. That usually means providing shelter, food, education, and medical care for them. But we all know that we need to take care of them in other ways too.

The ultimate care you can take of your family is providing for them in your estate plan. Every one has an estate no matter how big or how small. When you take the time to have a will made, you are putting things in writing, organizing, clarifying things, and planning – these are all stress busters. We never know what’s going to happen or when – but what we can do is prepare for the unknown and what we can control. Recall the Serenity Prayer in which we ask for the courage to change the things we can change.

Planning Will Reduce Our Stress
Often what prevents us from doing what we need to do and getting a will put in place is the consideration of our own deaths and mortality. It is been said that what we fear the most, and worry about the longest, has already happened to us. That is, the worst part of putting off something important (like drafting our wills) is often the constant worrying about it and the guilt we feel from procrastinating – not the event itself. Getting a will drafted can be quick and easy.

Yes, planning an estate is pain-free! Generally, the procedure is as follows: you begin by filling out a simple questionnaire for an attorney, she will then ask you a few questions, and you will meet with her once or twice to review your documents. And then it is done. You leave with a sense of accomplishment that you have done the ultimate good thing for your family. You can rest assured that you have provided for your family and can take a deep breath and exhale. A weight will have been lifted from your shoulders you might not have known was even there. You can go on living your life knowing that you have eliminated a huge unknown and that you have a plan in place for your future.

Planning Reduces Stress for Our Family
But not only do you reduce stress for yourself, you are also reducing stress for your family in one of the most stressful times they will face. These are people you love and care about. People who have lovingly taken care of you. People you raised or who helped raise you. People you don’t want bad things to happen to. By planning things out for yourself before hand, you are helping your family members reduce the stress that they are already going to have during the time of your illness and at your passing.

You are leaving crystal clear, legally enforceable instructions to them about who is going to be in charge of disposing of your assets (this is called an executor) and who will be receiving exactly what from your assets (this is called inheritance). When you give people directions they can follow, you are eliminating stress for them too. These instructions are especially important to people who have been married more than once, have children from different relationships, who have family members who do not get along, who are single, or who have children under 18 years old.

Planning Ahead Saves Money
Another aspect of stress avoidance with estate planning is preparing for the possibility that you may not just die but at some point be injured or suffer from some form of incapacity. Without planning, this may leave you helpless and at the mercy of people and institutions that don’t know you or what you would want.

This is stressful for two reasons: First, failure to put someone in charge of your health care creates the most financially devastating penalty for improper estate planning there is. It’s expensive because, when we don’t take the time to create for ourselves the proper documents that tell the world who speaks for us during this time, the court has to hold hearings, appoint lawyers who can charge up to $400.00 dollars an hour, have experts testify, appoint guardians who may not know what they are doing, and publicly review every private aspect of your medical care and hygiene.

Who pays for all of this? YOU! And at that point there is nothing you can do about it. This is stressful! It ultimately takes away from the money you worked so hard to accumulate during your life which you wanted to leave to your family. Sometimes instead of an inheritance you are leaving behind bills! And this is exactly what people will talk about and shake their heads about when you are gone. No one wants this to be their permanent legacy.

Planning Ahead Keeps Us from Being a Burden to our Family
Another reason health care planning as a part of estate planning is important is that without it you and your family are distracted by the legal process and can’t just focus on your health care and getting you better and healthier.

Conclusion
So, in conclusion, the best thing you can do to avoid all of these stressors is simply to call us. We will not bite – and want to help you create peace in your life with our expertise. The process is short and the cost is well worth avoiding all of the unnecessary strife, interfamily litigation, confusion about your wishes, public exposure of your privacy, and avoidable expense that come when we don’t plan for our future.

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).

Traditionally, a trust would, at most, specify the age at which a beneficiary would receive money. However, often the unintended result would be, in the absence of your guidance, the creation of brats or unproductive adults. In general, parents do not want this. Parents generally want their kids to be successful, educated, happy, and well adjusted. Parents do not want their kids to lack motivation, ambition, or fall prey to bad habits. Even after they are gone.

Although it is not as bad as leaving your children nothing, giving young kids too much money all at once could actually create a DISINCENTIVE to work, budget, have goals, and mature. Further, without a trust in place your child would receive all of the money from you and your life insurance at one time. And if they are minors at the time of your death, they would receive this money at the ripe old age of 18. This single payment would be quickly, if not unwisely, spent and would be the last influence they would have from you for the rest of their long lives – no matter what happens to them down the road.

This is why Incentive Trusts are becoming increasingly popular. They are designed to do what you would do if you were still here: encourage your child to continue reaching goals as well as discourage your child from engaging in bad or illegal behavior. How it works is that upon the happening of certain specified events or accomplishments, a distribution from the trust is triggered. It allows a parent to structure the timing and conditioning of distributions of funds to their child to encourage good grades, graduations, entrepreneurship, entry into the family business, home ownership, as well as avoidance of drugs, alcohol, and other bad elements.

Within an Incentive Trust, you could also have a Matching provision, in that any money your child earned from employment would be matched by a distribution from the trust. This would encourage them to gain employment and keep a job.

The variations are endless, I have a client who wanted to encourage her kids to marry so she provided for a $5,000.00 wedding gift to be used however her kids chose. I also had a client who wanted to encourage her children to see the world so she provided for a distribution for trips her kids might take out of state and an even larger distribution for international trips.

Incentive Trusts are especially helpful to parents of young children, parents who are a little older, or parents who sense their children may be ever so slightly immature or financially irresponsible.

This law firm services all of North Carolina particularly the Counties of Mecklenburg (Charlotte, Huntersville, Matthews, Mint Hill, Cornelius, Davidson, Pineville, Ballantyne, Lake Norman, South Park Area), Union (Monroe, Indian Trail, Weddington), Cabarrus (Concord, Kannapolis), Gaston (Gastonia, Mount Holly), Iredell (Statesville, Mooresville), and Cleveland (Shelby, Kings Mountain).