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Schedule Your Free Consulation06
Mar
What is a Trust and What are the Powers and Duties of a Trustee?
A trust is a fiduciary relationship with respect to property in which one person, the trustee, holds the legal title to the trust property for the benefit of another person or persons, the beneficiary. Essentially, it is a device where one or more persons manage the property for...
View MoreCategory: Estate Planning
06
Mar
What Happens in North Carolina When an Individual Dies Without Executing a Will?
Research shows that over 50% of Americans die without executing a will. A person dies intestate if he or she dies without making a valid will. If you die without making a will, then the intestacy laws of the state of North Carolina (or the state in which you reside at your death)...
View MoreCategory: Estate Planning
06
Mar
Disabled Children of Veterans’ Survivor Benefits
Disabled Children of Military Veterans May Now have Survivor Benefits Paid to Special Needs TrustsIn December 2014, Congress finally passed provisions allowing the disabled children of military veterans to have their survivor benefits paid in to Special Needs Trusts! This devel...
View More06
Mar
Long Term Care Costs
It is a New Year. Is this the year the family will lose everything due to long term care costs? Virtually every week I am asked to assist families in protecting assets that are at risk of being lost due to the staggering costs of long term nursing care. The most pressing questio...
View MoreCategory: Elder Law
06
Mar
Will Caveats
It is essential for anyone with legitimate questions about a will or an estate to retain an experienced litigator to help either defend or challenge a will. Will contests, also known as will caveats in North Carolina, can be a most unpleasant form of litigation. Peter McGuire has...
View MoreCategory: Estate Planning
06
Mar
2014 Year End Tax Planning Memorandum
The 2014 year has been relatively quiet regarding new tax legislation, but several changes have been put in place. As the year winds down, it is a good time to review your tax and gift strategies. This letter may be used as a checklist to ensure you are well-positioned for the ye...
View MoreCategory: Estate Planning
25
Mar
Uncovering Charitable Planning Opportunities
Charitable giving is discretionary spending. It is affected by both the economy and the income tax rates. Not surprisingly, charitable giving has been down in recent years, but this does not mean clients are less charitably inclined. Many just need to be pointed in the right dire...
View MoreCategory: Advisors
25
Mar
Don’t Let the Tax Tail Wag the Dog: Client Concerns, Not the Estate Tax, Should Drive Estate Planning
Washington's negotiations about 2013 tax laws are getting lots of press. As estate planning professionals, we are often asked our opinions about what the 2013 estate tax laws might be and the resulting implications for our clients. But for the vast majority of Americans, wh...
View MoreCategory: Advisors
25
Mar
What the New Tax Law Means to You and Your Clients
On January 2, 2013, the President signed into law the American Taxpayer Relief Act of 2012 (the 2012 Tax Act) to deal with the so-called “fiscal cliff. ” The 2012 Tax Act included revisions to estate, gift and generation-skipping transfer (“GST”) tax laws a...
View MoreCategory: Advisors
25
Mar
Using Trusts to Protect Inherited IRAs
Many clients have large IRAs and retirement plan accounts and need special estate planning for these assets. A 2009 study by the Investment Company Institute found that retirement plans account for 34% of all household financial assets, up from 14% in 1978; IRAs alone account f...
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