![]() The bottom line is that anyone can benefit from meeting with an estate planning attorney to discuss their current situation and hopes for the future. This avoids the difficult process of having the court appoint a guardian. If you’re a parent, you can appoint a guardian for minor children or disabled dependents in a will or trust. Any assets can be covered in a will, from heirlooms to the family business to Uncle Johnny’s coveted Jet Ski.Īlso, an estate plan lets you explain the type of medical care you want to receive if you become incapacitated. ![]() Estate planning is not just about passing on large amounts of money or real estate. Minimizing tax and/or probate implicationsĪ common yet incorrect belief is that estate planning is only for the rich. Planning for succession of business ownership Managing and distributing assets after death Providing for ongoing care of minor or disabled heirs if you become incapacitated or die Offering directives for health care in certain dire medical circumstances What are the functions of an estate plan?ĭelegating decision-making power for legal, financial, or medical transactions Estate planning basicsĪn estate plan is a series of financial planning steps that you undertake to address the health, financial, and family issues most people face as they get older. Then scroll down further to find details and recommendations for each section. If you’re starting to plan your estate, consider this estate planning checklist. The benefits of an estate plan have become especially clear in recent months. And if life teaches us anything, it’s to expect the unexpected. However, illnesses and accidents can happen to anyone, anytime. Nobody wants to think about becoming sick or dying at a young age. Others don’t feel comfortable discussing the death of a loved one. Some believe they don’t have enough wealth to need an estate plan. The Law Library has the most recent (2021-22) supplement for this text with the copy available in the Reserve Room.Estate Planning Checklist Historically, many people have shied away from estate planning. In addition, this resource also provides statutory and case law on wills and estates, alongside an analysis of the legislative changes. Topics of interest include holographic wills, nuncupative wills, testamentary capacity, undue influence, fraud and mistake, execution of wills, attestation of wills, revocation of wills, probate, and devises. This treatise provides an overview for practicing attorneys regarding wills. Wiggins Wills and Administration of Estates in North Carolina. The most recent copies of this text ( 2022) are available in the Reserve Room. The Law Library has copies of this text from 2003- 2022. Designed as a practical guide, the source contains Administrative Office of the Courts forms and is focused on the practical steps to be taken when administering estates. This handbook discusses procedural steps in administration of probate estates in North Carolina. Edwards' North Carolina Probate Handbook: with Forms. The Law Library holds the most recent (2022) supplement for this text. The resource also contains forms, checklist, and practical advice on applying the law and avoiding malpractice. This guide is similar to a deskbook in that it offers fairly comprehensive coverage of the subject matter. North Carolina Estate Settlement Practice Guide. Types of forms include those for simple wills, for pour-over wills, and for various trusts among others. There are multiple versions for many of the types of will forms included. This manual contains primarily forms with sample language and brief introductions for context. BB&T Estate Planning Forms Manual, 2016 rev.
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