Changing a Revocable Trust
How Do You Change the Name of a Revocable Trust? Generally, you change the name of a revocable trust through the formal amendment process. A trust can be amended to modify the substance of the trust (how it works, who it benefits, who serves as trustee) or it can be modified to change the formalities of the trust itself.…
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Special Needs Planning without Special Needs Trusts
A substantial portion of our practice involves helping parents plan for an unclear future for their child with special needs. What sorts of resources will be there when I’m not? Who will take care of my child when I can’t? Will my child need Guardianship or Powers of Attorney? Do I need to create a Special Needs Trust? Will my…
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What’s the Difference between an Executor and a Trustee?
When utilizing trust-based planning as part of your overall estate planning solution, both a will and a revocable living trust are used to create a comprehensive estate plan. The will acts as a catch-all for any assets that are not already in trust or are not already pointing to or paying to the trust at death. The will appoints an…
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Can I Amend My Will or Trust in North Carolina?
Getting your estate plan in place can be both stressful and a great relief. You’re making such important decisions that you just don’t want to make the wrong choice for something that could have a significant impact after you’re gone or if you become disable. “What if my executor doesn’t want to do it?”, “What if I want my kids…
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Estate Planning in North Carolina: Do I Need a Will or a Trust?
A common question that comes up during consultations, networking meetings, seminars, estate plan reviews, or sometimes at a neighborhood gathering is: “Do I need a will or a trust?” When making the decision of whether to create a plan using a North Carolina will or trust, there are really six (6) main issues to consider. To be clear, everyone needs…
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