What is a Will?
A will is a legal document which states what a person wants to happen to his or her property upon their death. A will is one of the most important documents in estate planning and should be the result of much deliberation and discussion with your lawyer.
If a person dies with a valid will then the probate court must follow the wishes of the deceased.
If a person dies without a will in North Carolina then his or her estate is distributed by the operation of what are called the intestacy laws.
To make a valid will a person must be competent when they make the will and certain formalities must be followed in the execution of the document.
What is Estate Planning?
Estate planning is the process of evaluating your goals and concerns related to the transfer of your assets upon death and, in come cases, during your lifetime.
Estate planning can include professional advisors such as lawyers, accountants, financial planners and others.
Estate planning usually results in the preparation and signing of certain documents such as a will, advance directives, and trusts to accomplish your estate planning goals.
Why You Need a Will and Estate Attorney
If you die without a will or any clear legal strategy to manage your personal or business assets, they could be frozen in probate for a period or even longer.
This means that a judge must oversee how assets are distributed and ensure that the laws of succession in the state are followed. The state’s law could conflict with your personal preferences regarding the distribution of your assets, who has your kids’ custody rights, or how your company will be divided. However, if there is no plan or an agreement in place, it’s the responsibility of the judge to decide.
Furthermore, ensuring a probate estate attorney drafts or scrutinizes the estate planning documents is important. Although you’re not legally obliged to do this having a lawyer write your will could reduce the possibility of overturning your will and ensure that everything is in place for your beneficiaries.
What happens if I die without a will?
If you die with no will and testamentary in North Carolina, it’s known as an intestate estate. The probate court assigns an administrator who distributes your assets following the rules of North Carolina probate law. They are required to follow the laws of state intestacy, which attempt to replicate the average person’s desires.
If a person dies without having written a will, their property goes to the next generation through what’s known as “intestate succession,” following the law of the state. Also, if you still need to get a will, the state will draft it for you.
What can I do with a will in Raleigh, North Carolina?
Raleigh will provide the testator or the person who is writing the will an opportunity to ensure their loved family members are cared for following the death of their loved ones. You can select from the property left behind and give other types of gifts, such as to charitable organizations.
How Our Estate Planning Attorneys Help With Wills, Estates, And Trusts
The North Carolina estate planning attorneys are well-versed in the intricate nature of wills and trusts, estates, and wills. We work with our clients to design plans that meet their specific objectives and needs. From drafting Wills and trusts to creating guardianships for minor children or directing the trust fund, we can provide everything you need to create an efficient plan.
Our lawyers also help with the administration of probate and provide advice regarding tax planning so that your loved family members are cared for in the most efficient financial manner possible. With our comprehensive method of estate planning, you can be at ease knowing the assets you have will be distributed according to your wishes, and your loved ones will be cared for during your death. Our attorneys are committed to preserving the legacy left behind by you.
Get Started Now
Amanda Spence has over twenty-five years of experience assisting clients with Estate Planning, including the preparation of Wills, Trusts, and Powers of Attorney; Estate Administration and Probate; Medicaid Applications and Appeals; Guardianship; Veteran’s Benefits; and Asset Protection, including planning for long-term care.
Call Amanda Spence at (919) 863-4183 or email firstname.lastname@example.org to set up an appointment to discuss elder law, estate planning, administration, Medicaid applications and appeals, and related matters.
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