Having a customized, professionally drawn-up will or estate plan is a necessary step to minimize hardship on your family and reduce fees and costs in the event you pass away. A will and estate attorney will assist you through estate planning services so that in the event of your passing, there is a clear plan including how property will be divided, who receives custody of your children, and who will act as executor.
Why You Need a Will and Estate Attorney
In the event that you pass away without a will or without a clear, legal plan for your business or personal holdings, your assets can end up frozen in probate for months or longer. This means that a court has to supervise how the assets are distributed and ensure the state laws of succession are maintained. State law may go against your personal wishes for how your assets are distributed, who gets custody of your children, or how your business is divided, but without a plan or will in place, it’s up to the court to make the decision.
Additionally, it’s also necessary to make sure any estate planning is drafted or reviewed by a probate estate lawyer. While you legally aren’t required to do this, having a lawyer draft your will can reduce the likelihood of your will being challenged and ensure that everything is covered for your heirs.
What happens if I die without a will?
When you die without a will in North Carolina, it’s known as having an intestate estate. The probate court appoints an administrator to distribute your assets according to the requirements of North Carolina probate law. They must follow state intestacy laws that try to mimic the final wishes of the average person.
When someone dies without having made a will, the property passes by what is called “intestate succession” according to state law. In other words, if you don’t have a will, the state will make one for you.
What can I do with a will in North Carolina?
North Carolina wills provide the testator, or the person writing the will, a chance to ensure that their loved ones are taken care of after death. You may choose from property left behind as well as giving other gifts such as charitable organizations.
The difference between a will and a trust
When planning for the future, it is important to have both a will and a trust. Wills ensures that your wishes are carried out after your death, appointing an executor to distribute your assets as you see fit. However, in some cases, these assets may be subject to probate court before they can be distributed. This can lead to delays and additional expenses.
A trust, on the other hand, allows for the transfer of assets without having to go through probate court. The grantor hands over control of their assets to a trustee for the benefit of specific individuals or purposes, such as providing financial support for a child with special needs or setting aside funds for philanthropic purposes. In addition to avoiding the probate process, trusts also offer greater privacy and can help to protect assets from creditors and lawsuits.
Ultimately, having both a will and a trust in place can ensure that your financial affairs are handled efficiently and in accordance with your wishes.
How Our Estate Planning Attorneys Assist With Wills, Estates, And Trusts
Our North Carolina estate planning attorneys have a thorough understanding of the complexities involved in wills, estates, and trusts. We work closely with clients to create tailored plans that address their unique goals and circumstances. From drafting wills and living trusts to setting up guardianships for minor children or managing trust funds, we provide everything you need for an effective plan.
Our attorneys also assist with probate administration and can offer counsel with tax planning to ensure your loved ones are taken care of in the most financially advantageous way possible. With our comprehensive approach to estate planning, you can rest assured that your assets will be allocated according to your wishes and your loved ones will be provided for in the event of your passing. Our lawyers are dedicated to protecting the legacy you leave behind.
Our Law Firm Practice Areas
Our Raleigh estate lawyers can assist you with all aspects of wills and estate planning. This includes, but isn’t limited to:
- Asset protection
- Business succession
- Charitable planning
- Estate administration
- Family limited partnerships
- IRA planning
- Last wills and testaments
- Living wills
- Powers of attorney
Testimonials from Our Estate Lawyers’ Clients
When my mother died, I was faced with a variety of decisions, not the least of which was handling the legal responsibilities of her estate. Terrell Thomas was recommended to us by my mother’s lawyer. Having Terrell handle these legal aspects has been the best experience that I could imagine at such a time. He has anticipated every legal request from the courts and has managed everything very well, always giving us a heads-up when we need to take certain actions. And there has always been a presence of thoughtful compassion in our interactions. I would recommend Terrell to anyone needing help with the administration of an estate or their estate planning needs. He provides great service and has made this process go very smoothly.
– Patricia M. from Wake County
Contact Us for Wills and Estate Planning in Raleigh
Protect your family’s future by making sure you have a will and other estate planning documents prepared by a qualified attorney. We can help you ensure your wishes are carried out by drafting and filing your legal documents and even acting as an estate administrator to reduce stress and hardship on your family. Reach out to us today at (919) 615-2473 or schedule a consultation today.
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