Estate plans require high-touch, personalized services that cater to your unique needs as your estate evolves. If you open a new business or office, have a child, are diagnosed with a concerning medical condition, buy real estate or simply have assets that you want to be given to certain beneficiaries, our Murraysville, NC estate planning attorneys can help.
We understand that estate planning can be intimidating and stressful, but without one, your estate will go into intestacy succession, meaning you have no say over:
- Beneficiaries
- Asset distribution
A comprehensive estate plan accounts for the future, allowing you to put measures in place to divide the estate among the beneficiaries of your choosing, outline your medical wishes, name someone to handle your finances if you become incapacitated, put a business succession plan in place and so much more.
Case Illustration
Jennifer is a 44-year-old mother of two who was recently widowed. Her children are both in their early teens and while driving on I-40 to pick them up from a friend’s house in Rocky Point, Jennifer has a heart attack and dies.
Jennifer has not updated her will in many years, so her father and mother-in-law are still listed as guardians of the children.
When Jennifer’s husband died, she had a falling out with her in-laws due to arguments over her late husband’s will. Jennifer, who thought she was young and healthy, would have wanted her sister to have been the legal guardian of the children. However, since her will was out of date, her wishes will not be carried out.
Life’s major changes require a visit with our Murraysville estate planning attorneys to ensure your current wishes are reflected in your estate plan.
Securing Your Legacy Starts With a Murraysville Estate Planning Attorney
Most people don’t think consider their legacy until it’s too late. You spend a lifetime building a career or potentially a business and working hard to provide for your family. If something happens to you at any age, an estate plan can protect your legacy by ensuring that your wishes are followed.
As an estate planning attorney, we can say that it’s never too early to start creating a plan.
Over time, a basic plan can be added to and become as comprehensive as necessary for your life circumstances.
What’s Included in a Basic Estate Plan in North Carolina?
We recommend basic estate planning for people of all ages. Your basic plan will allow you to dictate how your estate is divided among beneficiaries and how taxes and debts are paid. It can also include naming a guardian for minor children and outlines the healthcare treatments you may or may not want to receive.
A basic plan often includes the following components:
- Will
- Living Will
- Power of Attorney
- Healthcare Proxy
As your life circumstances change, it’s important to work with an attorney to review your plan and ensure it names beneficiaries who are still in your life. Marriage, divorce, opening a business, and having children are just a few of the times in your life when a plan review is in order.
Your circumstances may change enough that you outgrow your plan and need something more comprehensive.
What Does a Comprehensive Estate Plan Include?
The basic components above will lay the groundwork for your estate plan, but to cover all scenarios, you may need a comprehensive plan.
A comprehensive estate plan can include many different elements, such as:
- Trust(s)
- Family LLPs
- Charitable Planning
- Insurance Planning
- LTC Planning
- Final Expenses
- Retirement Account Planning
- Business Succession Planning
Strategies such as LTC planning and retirement account planning can help you prepare for the future while protecting your assets. Provisions in the SECURE Act can benefit retirement savers, and your estate plan can leverage these benefits.
Our Murraysville, NC, estate planning attorneys can help you determine which of these estate planning tools will achieve your goals and help you secure your legacy.
How To Choose The Best Estate Planning Attorney To Secure Your Legacy
Your estate plan should be designed to carry out your wishes after you’re gone, but it should also protect you while you’re still here. The right attorney will help you understand your options and ensure your plan includes critical elements, like incapacity planning, to cover all of your bases.
How do you choose the right attorney? Consider the following:
- Does the attorney focus on estate planning? Your attorney should know which tools and strategies are available to achieve your goals, especially if you have a more complex estate.
- Do they offer comprehensive planning? A basic estate plan will only get you so far. You may need help with business succession planning or setting up trusts to ensure your assets are distributed as per your wishes. Comprehensive estate plans can also be used to minimize taxes and protect the assets you worked so hard to attain.
- Will they take the time to get to know you and create a plan based on your individual needs? No two families are the same. Everyone has unique goals for their estate. Your attorney should understand what you want to achieve and listen to your concerns to ensure your estate plan will meet your needs.
- How quickly will they reply to your phone calls or emails? Communication is crucial when it comes to estate planning. Your attorney should be happy to answer questions and explain things in a way that’s easy to understand. When you have questions or concerns, they should reply to messages in a timely manner. Our clients know that we reply the same business day to, at the very least, schedule a call for the next available time.
At NC Planning, we know that making decisions about your estate can be overwhelming. We’re here to guide you through every step. The process starts with a consultation, where we get to know you, your goals, and your needs. From here, we’ll build a plan together that’s designed for your individual needs.
How NC Planning Will Help You Plan For The Road Ahead
Estate planning is personal. To get it right, you need an attorney who truly knows you and your goals. At NC Planning, we live and breathe client care. We’re focused on building relationships with our clients, which allows us to create tailored estate plans based on your unique situation and future plans.
Our attorneys can assist you with all of your estate planning needs, from business succession planning to trusts, charitable planning, and other complex issues.Contact us or call our Wilmington office today to schedule a consultation with one of our experienced Murraysville, NC, estate planning attorneys.
