May 25, 2017
by Raleigh Lawyer
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More Things to Consider For Beneficiaries

Welcome back. We are here to talk more about beneficiaries and why they’re important. If you have questions, contact our estate lawyer in Cary NC.

Estate Lawyer in Cary NC Talks Beneficiaries

  • It is important to name a beneficiary for each account listed within the estate plan or will. If no one is named, the account or policy may be subject to probate, which is a timely and costly process that could result in paying fees and taxes that could reduce the amount distributed. Most policies have an option for a secondary or “backup” beneficiary. You should name a second party in case something happens to both you and your primary beneficiary.
  • Probate is not needed for certain assets that have specific beneficiaries. When completing Beneficiary Designation forms, it’s important to name a person as the beneficiary. Contact an attorney prior to naming your estate the beneficiary of certain investments. Doing so may lead to probate and tax issues. Creating appropriate beneficiary designations and ensuring they are up-to-date can help decrease taxes and other costs for loved ones.
  • The people named on your policies and accounts should also match what is outlined in your will. They operate independently of each other, but it is best to make sure everything is consistent to avoid confusion later on.
  • When filling out your policies, make sure that you read the instructions to ensure that you are filling out the forms correctly. If you have questions, a lawyer with experience in estate planning can help answer them. Klish and Eldreth’s estate lawyer in Cary NC has years of experience in estate law and can help you with planning needs.

Common life events happen. These events might lead to reasons to contact your North Carolina estate planning attorney and update your beneficiaries. The list below suggests a few of those reasons:

  • Death of a relative
  • Divorce
  • Job change
  • Marriage
  • New baby

Naming a second beneficiary might benefit you, as well. If you need to name or update your beneficiaries for life insurance policies or IRAs, feel free to contact Klish and Eldreth, PLLC. Our estate lawyer in Cary NC will do what we can to help you get your beneficiaries and estate plan in place.

Klish and Eldreth, PLLC

Remember, if you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyer in Cary NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office today to get started estate planning.

As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and  DWI issues.

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May 21, 2017
by Raleigh Lawyer
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Things to Consider For Beneficiaries

 

Beneficiaries are an important part of estate planning. Below, you’ll find information from our estate lawyers in Cary NC regarding their importance.

Things to Consider For Beneficiaries | Estate Lawyers Cary NC

  • Failing to update your beneficiaries, or neglecting to name them altogether, may leave life insurance and retirement accounts to unplanned heirs. It can also create probate expenses and cause tax issues. You may have a solid will in place, but sometimes that will not help avoid these issues. The best safeguard is to contact an estate attorney to assist you in designating and updating beneficiaries.
  • If a major life change occurs such as a marriage, divorce, birth, or death, then who you designate as your beneficiary may need to be changed. If you get a divorce and do not change your beneficiary from your former spouse, he or she will collect on your policy or account. Even if you have updated your estate plan and will to reflect changes, the person named in the actual policy or on the account overrides what is in your will. Many people review their estate plan and policies once a year in order to ensure that everything is up to date.
  • If you are considering naming your estate the beneficiary for a policy or account, consider that it may have to go through probate court before it is distributed. There may also be tax consequences that can decrease the payout. Consult with estate lawyers in Cary NC before making that type of designation.
  • If you are designating different accounts for multiple heirs, such as adult children, keep in mind what type of accounts you are distributing. They may increase in value unevenly, making the amounts the children receive different. This can cause hurt feelings and confusion later on if they do not understand why they may have received less than a sibling. When naming a beneficiary, check with your attorney before designating minors, such as your children, because you may be better served to create a trust.

To learn more, visit back with our next blog post. There, our estate lawyers in Cary NC will share more information.

Klish and Eldreth | Estate Lawyers Cary NC

Remember, estate planning is important. It’s a way to ensure your loved ones are cared for after you’ve passed. It’s also a way to distribute your belongings to specific loved ones as well. It’s important that one not pass without this document. Doing so can result in a court case that will leave your loved ones stuck in probate court. This could be not only time consuming but expensive as well.

Regardless of whether you’re married, single, wealthy, childless or a parent, it’s important for all adults to have an estate plan and the proper documents in place at the beginning of each year. If you’re ready to begin planning your estate contact our estate lawyer in Cary NC, today.

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May 19, 2017
by Raleigh Lawyer
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Understanding the Importance of a Will, continued

Welcome back. Our wills lawyer in Cary NC is here to talk more about the importance of a valid will and what might happen should you pass without one.

Understanding a Will | Wills Lawyer Cary NC

  • Probate court will divide your estate as they see fit, giving property to surviving relatives, even if you never intended for certain relatives to have specific property or belongings.  
  • Because of various rules and guidelines the court must follow, the court pays any unpaid debts and death expenses first, then follows the legal guidelines.
  • Whether or not you have children or a spouse alive, grandchildren or other relatives will determine how your estate is divided.
  • If you have no surviving spouse, children or grandchildren, people whom you might never consider naming as a beneficiary might be chosen to receive your property and belongings.
  • Close friends or charities that are near to your heart might never be included in the probate process or receive any of your estate, even if you might have left them with something, otherwise. If there are no surviving relatives, your estate may go to the state in which you live or the local government.

Estate planning is a very important part of life. You should be in charge of dividing your assets among your loved ones. It’s important to make sure you’re able to leave your surviving loved ones, charities and other individuals with the assets you wish them to have when you pass.

Contact Klish and Eldreth, PLLC, today, to make an appointment for a consultation to begin working with a wills lawyer in Cary NC. There’s never a better time than the present to make sure your family and loved one’s futures are taken care of through estate planning.

Wills Lawyer in Cary NC

If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our wills lawyer in Cary NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.

As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and  DWI issues.

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May 17, 2017
by Raleigh Lawyer
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Understanding the Importance of a Will

Believe it or not, more than 60 percent of Americans die without a will. This means that they haven’t decided what should happen to their belongings upon their death. It can also mean that a court of law could distribute them after a probate hearing. Below, you’ll find information regarding the importance of a will. Our probate lawyer in Cary NC can help you better understand if you have further questions.

Understanding the Importance of a Will | Probate Lawyer Cary NC

  • Having a will in place offers advantages to everyone that might be involved, in the event of your death.
  • A will can give you peace of mind, offering a way for you to name a guardian for your minor children, distribute property and belongings, and more.
  • It will be a difficult time for them. Having a valid will to help distribute your belongings and share your wishes will take a burden off their shoulders during this very stressful time.
  • If you die without a valid will, your survivors might face an intense time-consuming legal process that often costs far more than hiring a probate lawyer in Cary NC who can help you plan and create a will.
  • Not having a will that documents arrangements made to distribute property and belongings to your family and loved ones, essentially leaves your estate to probate court.
  • Probate court will divide your estate as they see fit, giving property to surviving relatives, even if you never intended for certain relatives to have specific property or belongings.  
  • Any unpaid debts and death expenses will be paid and then legal guidelines will be followed, after that.
  • The probate process can be expensive and could take much longer to complete than the dividing of assets through an estate plan would.

Klish and Eldreth | Probate Lawyer Cary NC

If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyer is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our probate lawyer in Cary NC to get started estate planning, today.

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May 15, 2017
by Raleigh Lawyer
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Things to Consider When Estate Planning Part Two

Welcome back! We are here to talk more about things to consider when estate planning in Raleigh NC. If you haven’t read our previous blog, visit there for additional information.

For those who already begun estate planning in Raleigh NC, it’s important to continually update it. Things like divorce, having children, name changes or other life altering situations can make your current estate plan invalid.

More Things to Consider for Estate Planning in Raleigh NC

An example might be women who get married and change their names. If you get married, change your name and forget to update that within estate planning documents, it might pose an issue upon your death.

Also, those who choose to change their name at some point in life, outside of a marriage, also need to update their estate plans. Anyone who has included you in their estate plan should do the updates, as well.

Another example, Mary Elizabeth Smith prefers to go by Beth Smith. When Beth Smith gets married, she doesn’t immediately change her name to her married name. However, she and her husband choose to begin creating an estate plan. Within that plan, Mary Elizabeth Smith is the legal name used as a beneficiary. Five years into marriage, Mary Elizabeth Smith chooses to change her name to Beth Spencer. Unfortunately, her name was not changed within the estate planning documents. Upon her husband’s death, the will was deemed invalid and had to go through probate.

This example hopefully helps you better understand why updating any life change, no matter how small it is, within your estate plan is essential for keeping it valid.

We hope this information helps you better understand things that should be considered when estate planning in Raleigh NC. If you have questions, contact our lawyer. TO learn more, take a look at our previous blog, as well.

Call Klish and Eldreth to Get Started With Estate Planning in Raleigh NC

If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our attorney is here to help you get your estate planning in Raleigh NC started and in order. That way, should you pass in an untimely manner or become incapacitated at some point it will be there for your loved ones. It’s better to be safe than sorry when it comes to an estate plan. Contact our office today to get started estate planning.

As always, feel free to contact us with any questions or concerns you may have concerning legal issues. Contact our lawyer to schedule a consultation if you have questions about small business needs, trademarking, copyrighting, or other legal situations. Call today to talk with our lawyer!

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