Estate planning protects everything you worked so hard for throughout your lifetime. Your last wishes may not be followed if you don’t have basic plans in place to divide your assets, and if you find yourself incapacitated, you need your wishes on paper, too. As your Holly Springs, NC estate planning attorney, we will:
- Get to know you and your individual needs
- Personalize our service to meet your goals
- Create a comprehensive estate plan that covers all of your bases
If your plan is incomplete and the worst happens, there is no going back. We will help make your plan as stress- and pain-free as possible.
We take a comprehensive approach to all estate plans, whether you are an entrepreneur, health care worker, dentist or work in any other field. Our team will create an estate plan that leaves nothing up to chance or intestacy laws.
Schedule a consultation with us to learn more about how we will personalize your estate plan for you.
Case Illustration of Creating an Estate Plan in Holly Springs, NC
Jimmy, a small business owner with two young girls, is driving home from his office. While traveling on Main Street, he gets into an accident near the tearoom. A driver went through the intersection and hit his SUV.
Jimmy is in critical condition and in a coma. Unfortunately, he hasn’t created:
- A living will
- Power of attorney for healthcare, or
- Power of attorney for financial matters
Sadly, Jimmy’s wish to never be put on life support isn’t followed, and no one can access his bank account to continue paying his mortgage.
The bills begin to pile up, his wishes are not carried out, and he dies from his injuries.
His ex-spouse is explicitly listed on his will to receive certain assets because he has not updated his will. As a result, his two daughters do not receive the family heirlooms he wanted them to inherit or any of the other assets he wanted them to have that he specifically left to his ex.
Securing Your Legacy
Protecting your legacy is our goal as a Holly Springs, NC estate planning attorney.
What Do Estate Planning Attorneys Do?
Estate planning attorneys know federal and local laws, and we offer extensive:
- Guidance on the right documents your estate plan requires
- Document drafting and filing
- Tax planning
- Trust creation
- Creation of a Power of Attorney
You have a legacy that you want to leave behind, and we help you do this by following the law and using any legal avenues possible to protect your assets. We will work with you and your family to create an estate plan that works today and that we can update as your life plans change.
What is the Benefit of Working with an Attorney?
A knowledgeable, experienced attorney will help you in many ways, including:
- Creating a legally enforceable plan and explaining North Carolina’s laws to you.
- Customizing a plan to your unique needs, and even assisting with business succession planning if necessary.
- Addressing any questions or concerns that you have.
- Updating your estate plan as major life changes occur.
- Assisting with trust administration, probate and more after your death.
You have a vision for the legacy you want to leave behind. We can help you realize that vision.
Parts of an Effective Estate Plan
An effective estate plan has many moving parts, but the most basic elements of a plan that you need to have in place are:
- Will: A legal document that outlines how you want probate assets to be distributed, guardianship over minors, care for pets, an executor and more.
- Living Will: A document that goes into effect if you’re incapacitated and outlines the medical treatment that you will receive.
- Power of Attorney: Authorization that allows someone to act on your financial and private affairs.
- Healthcare Proxy: Authorization of a named agent who can make healthcare decisions on your behalf if you’re incapacitated.
If you need a comprehensive plan, we can also help.
Comprehensive Estate Planning
Estate plans can go beyond the foundational elements above. With the help of an experienced Holly Springs, NC estate planning attorney, you can build a more comprehensive plan that addresses complex issues and can help you achieve your individual goals.
Comprehensive estate plans can include:
- Trust(s): Separate legal entities that can hold assets for your beneficiaries and help your estate avoid probate. There are several types of trusts. We can help you determine which ones will benefit your estate.
- Family LLPs: A partnership agreement between family members that may provide tax savings and asset protection. Family LLPs can be complex, but they can also have many advantages. We can help you understand whether it is a fitting choice for your estate plan.
- Charitable Planning: Through proper planning structures, your estate can make gifts to charities of your choosing while potentially reducing estate taxes and probate. NC Planning can help you navigate charitable planning and maximize its advantages.
- Insurance Planning: Life insurance can be a versatile tool used to fund trusts, make charitable contributions and provide financial security to loved ones. Planning and foresight can help you make the most of your insurance.
- LTC Planning: Most adults will need long-term care at some point in life, and costs can be exorbitant. We can help you anticipate and plan for these costs through strategic planning structures that can also help preserve your assets.
- Final Expenses: Your estate plan can include a plan to cover funeral or cremation costs, giving your loved ones additional peace of mind.
- Retirement Account Planning: Recent updates to the Secure Act impact how IRA assets are distributed to beneficiaries and timeframes for minimum distributions. Proper planning is key to ensuring your retirement accounts are distributed as you wish.
- Buy-Sell/Succession Planning for Businesses: If you’re a business owner, you may have to sell your portion of the business to other shareholders or you may want to sell the business to others. You can also create a plan that leaves the business to an heir.
How To Choose the Best Estate Administration Attorney to Secure Your Legacy
Estate planning can be complex, and if you want to ensure that all of your wishes are carried out, it often goes beyond drafting a simple will.
A Holly Springs, NC estate planning attorney can help you navigate the process and explain your options. Finding the right attorney is key.
Here are a few important things to consider when weighing your options:
- Experience. Attorneys who focus on estate planning will understand how to build an estate plan that meets your individual needs and goals.
- Personalized service. What level of service does the firm provide? Look for a team that gets to know their clients and provides a high-touch, tailored service.
- Communication. What is the firm’s communication policy? If you reach out with a question or concern, how quickly will you receive a response?
At NC Planning, we are a small, boutique law firm focused on estate planning and related services, including probate, estate and trust administration. We take a client-centric, personalized approach to our services, ensuring that clients receive a response within the same business day.
Planning is what we’re about, and we take the time to understand our clients’ individual needs and goals.
How NC Planning Will Help You Plan for the Road Ahead
Whether you are looking for a simple or comprehensive estate plan, NC Planning is here to help.
It all starts with a simple conversation to learn more about your current situation, your concerns and planning needs. After getting to know each other, our experienced legal team will develop a plan to help solve your unique issues and ensure your wishes are carried out.
We assist clients through our law offices in Cary, Raleigh, Greensboro and Wilmington, NC.
Contact us today to schedule a consultation and see how we can help with your estate planning needs.
