Estate Planning Attorney in Cary, North Carolina
Why Do You Need an Estate Plan in North Carolina?
I like to say "Estate Planning is for Everyone" because I have met many people who tell me that they don't want to or can't think about dying. I don't blame them. It is the great unknown and final. However, most people accept the inevitable and care about what happens, especially to those they leave behind as well as how their legacy is passed down. They don't want to be remembered as someone who didn't have their affairs in order.
Essentially, every adult has estate! An estate does not mean someone is worth millions or even hundreds of thousands. If you have a bank account, a car, or are owed a tax refund, then YOU HAVE AN ESTATE.
Without doing some planning, North Carolina does not make it easy to give your estate away. In fact, if you die without a Will, North Carolina has a law that dictates who gets what. This is called the Intestate Succession Act. I have yet to meet a family who agreed with how this law would distribute their estate to the heirs. The heir is the title for someone who is legally entitled to inherit from you.
Estate Planning is essentially making a plan in advance and naming whom you want to receive the things you own after you die. While estate planning is not the most exciting life event, everyone I have helped feels much better once they have their plan in place. Having a written plan with properly executed legal documents allows you to acknowledge the inevitable, express and memorialize your wishes, and relieve yourself from the stress of the uncertainty or problems that come without one. It is much easier to do nothing, so I applaud you for taking the time to learn about what happens and what you can do about it.
Whether you will have millions, thousands, or hundreds of dollars worth of assets (bank account, vehicles, real estate, stocks, retirement accounts, etc), the law governs how those assets are distributed and to whom.
Take Control, "get your affairs in order", and make a plan so that whatever is left will not only go to those you want but will go in the WAY that you want.
What Is an Estate Plan?
An Estate Plan is creating the documents you need to ensure you are properly cared for if you are sick or injured and your assets are distributed to those you want the way you want after you die.
Everyone has a plan because if you fail to plan North Carolina lawmakers have decided what they believe should happen. The North Carolina Intestate Succession Act will divide up your property in the way it thinks you want. If you're married, it does NOT all go to your spouse. Your spouse will share your property with your child(ren) or your parent(s). Crazy, right!?!
What Documents Do I Need in My Estate Plan?
The documents you need depend on several factors. However, everyone needs the following essential documents:
Living Will (aka in NC as an "Advance Directive For A Natural Death")
For more information about Trusts CLICK HERE. We serve the areas of Cary, Chapel Hill, Charlotte, and Wilmington, North Carolina.