August 17, 2016
by Raleigh Lawyer
Comments Off on Estate Planning for a Single Individual with No Children

Estate Planning for a Single Individual with No Children

 

As we mentioned in the previous blog, even single people need estate plans. Everyone leaves something behind when they die, and those assets, even if they are small, will go to someone. If you worked for those during your life, you probably want a say in what happens to them. Having an estate plan that includes a will and possibly a living trust can give you the chance to decide where you want your assets to go. Today, are estate planning attorney in Cary NC is here to talk more about various factors of plans. 

Tips | Estate Planning Attorney in Cary NC

Many people think that an estate plan is mainly created to take care of children when parents pass away, so people without children may think it is not necessary for them to have one. But that is not true. Even if you do not have children to take care of, you should want some say in what happens to your assets. You may have nieces or nephews you close friends that you want to receive part of your estate.

You may not have any family, and may want to leave your assets to a charity or an organization that you want to support. If you have an estate plan, you can outline how much goes where. But an estate plan does not only determine how your assets are distributed, it can also outline how decisions are made on your behalf should you become ill and not able to make them on your own.

If you are single and have no children, an important part of an estate plan will be a power of attorney so that you can name someone to make financial decisions on your behalf should you become incapacitated. A power of attorney for finances will let you name someone to handle things such as bank accounts, bills, taxes and your small business, if you have one. He or she should be a trustworthy person that can make good judgment calls when it comes to your money.

If you do not have an estate plan explaining how you want your asset to be dispersed when you pass away, then it is ultimately left up to the laws of your state. In that case, your hard earned estate could be divided up and dispersed to people you would not have chosen, or if you do not have relatives, it could end up going to the state.

Be sure to visit back with our blog, soon. Our estate planning attorney in Cary NC will have more information for you that can help you better understand this situation.

Our estate planning attorney in Cary NC is here to help you get your affairs 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.

In addition to estate planning, our lawyer is here to help you with all your small business needs, trademarking, copyrighting, or DWI issues.

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August 15, 2016
by Raleigh Lawyer
Comments Off on Most Overlooked Aspects of Estate Planning Part Two

Most Overlooked Aspects of Estate Planning Part Two

Welcome back! Our wills lawyer in Cary NC is here to discuss more overlooked aspects of estate planning. If you missed our last post, be sure to check it out before moving on. The information is key.

Things to Consider for Estate Planning | Wills Lawyer in Cary NC

Remember, in our last blog post, our wills lawyer in Cary NC stated that estate planning should consist of documents contain a will, which outlines who will get your assets. But it is best to not stop there. Your estate plan should also include information about trusts, power of attorney, beneficiaries, a living will or medical directive, an inventory of your assets, and information regarding who should care for your children if they are under 18 or unable to care for themselves.

Durable power of attorney for finances

Now that you have someone overseeing what happens to you in the event of a medical emergency, you probably want someone to take care of financial matters for you. A durable power of attorney can make decisions regarding assets, taxes, and investments, and can manage your small business in the event that you are not able to do so. Leaving these matters up to a trusted individual can ease some of the distress your spouse or family may be going through if you were involved in an accident or became ill. In some cases, your spouse may not even be able to make those decisions, so it is important that someone is named so your assets are not frozen.

A durable power of attorney ends when you are again able to manage your own affairs, or at your death. Keep in mind that he or she is not authorized to handle your finances after you die. The person who would handle that would be named in your will.

Check out the next post where our wills lawyer in Cary NC has plans to discuss more overlooked aspects of 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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August 15, 2016
by Raleigh Lawyer
Comments Off on Most Overlooked Aspects of Estate Planning Part One

Most Overlooked Aspects of Estate Planning Part One

If you are considering estate planning in Cary NC, you are ahead of most. Many people put off planning what will happen when they pass away because it can be an uncomfortable subject to deal with or simply because they forget. Having an estate plan can ensure that your assets are distributed the way you would want them to be. It also allows you to take care of the family and friends you leave behind.

Things to Consider When Estate Planning in Cary NC

Estate planning in Cary NC should consist of documents contain a will, which outlines who will get your assets. But it is best to not stop there. Your estate plan should also include information about trusts, power of attorney, beneficiaries, a living will or medical directive, an inventory of your assets, and information regarding who should care for your children if they are under 18 or unable to care for themselves.  

Many of these things are not included in an estate plan because many people think a will is enough to cover everything. In the next two posts we will look at the most overlooked aspects of estate planning, which include many of these important documents.

Let’s get started!

Durable power of attorney for healthcare

A durable power of attorney or health care proxy is important if you want a trusted family member or friend to be able to make healthcare decisions on your behalf should you become unable to do so. No one likes to think that something like that could happen, but it does. If you are in an accident and are not able to make decisions about your medical care, you would want your spouse or other family member to be able to act on your behalf.

Another aspect of a power of attorney can involve your children. If you have an adult child who is still under your healthcare insurance, if something happens to him or her, you will not be able to make decisions without permission. A signed durable power of attorney for healthcare can give you permission to make those decisions.

To learn more about important parts of estate planning in Cary NC and things you should never overlook, visit back with our next blog where we will discuss more!

Estate planning in Cary NC 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.

For more information on basic estate planning from our lawyer, be sure to visit back with us, soon! If you have questions about the information you’ve received here, contact us. We are here to help.

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August 13, 2016
by Raleigh Lawyer
Comments Off on Guardianship of an Incapacitated or Disabled Adult, continued

Guardianship of an Incapacitated or Disabled Adult, continued

Welcome back. Today, we are going to talk further about estate planning in Raleigh NC and how addressing a guardian for adult needs might be a good idea to add to the plan. If you missed our previous blog, be sure to visit back with it, soon.

Guardianship of Adults | Estate Planning in Raleigh NC

When someone is appointed a guardian, she must meet requirements that qualify her to serve. State guidelines vary but a few general rules apply to all. A guardian must be 18 years or older, cannot have a felony or misdemeanor on her record and must not be incapacitated herself. In cases where the wishes of the ward are heard, the ward can voice an opinion on the potential guardian. In many cases the ward is a family member, such as a spouse, sibling, aunt or uncle, and in some cases the parent.

State guidelines also vary on what qualifies a person as incapacitated. Someone should be deemed unable to make any decisions. Just because a person is bad with money does not mean he needs a guardian to make financial decisions. Also, just because a person has a developmental disability or a mental illness that does not always mean that he needs a guardian appointed to help take care of his affairs.

When someone is appointed guardian over a ward, the responsibilities generally include the following:

  • Ensuring the ward has a safe place to live and monitoring the living arrangements
  • Making decisions regarding finances on behalf of the ward, with the ward’s money
  • Seeing that any other services are being provided to the ward such as counseling
  • Making medical decisions for the ward
  • Updating the courts on how the ward is doing in all areas of life

Guardians do not have to oversee all aspects of a ward’s life, and are not expected to know every detail of his or her affairs. A guardian is not a caretaker. He or she should step in when there are large decisions to be made that affect the ward’s safety, health, or finances.

Klish and Eldreth | Estate Planning in Raleigh NC

Remember, estate planning in Raleigh 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 attorney, today.

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August 11, 2016
by Raleigh Lawyer
Comments Off on Guardianship of an Incapacitated or Disabled Adult

Guardianship of an Incapacitated or Disabled Adult

As we have learned in the last few posts, a guardianship is when someone asks the court to take care of another person who is unable to care for himself. The person is considered a ward who cannot make his own decisions regarding health, personal matters, living arrangements, and finances. There are several types of wards – a child under the age of 18 or an elderly person who is mentally or physically incapable of caring for herself. Our lawyer in Raleigh NC is here to discuss this matter further.

Guardianship | Lawyer in Raleigh NC

In this post we are going to look at the guardianship of an adult who is of legal age but has a disability or developmental impairment that prevents him from making his own decisions. A person with a disability or impairment that needs a guardian may not have always needed help. A person could have been in a bad accident that caused a brain injury, or he or she could have had a stroke or other illness that changed their cognitive abilities.

In some cases the disability may not last, so the person may not need a guardian as he or she begins to recover. In other cases, the ward may only need help in certain areas so the guardian will be appointed limited responsibilities. The duties are decided upon by the court. This allows the ward to feel she has some say in her life and in what happens to her. In these cases, they are understood to facilitate the independence and self-reliance of the ward so that a loss of dignity does not occur. The ward is able to care for themselves and make as many decisions as possible while still having the guidance of a guardian.

If you have any questions about this matter or need to speak with our lawyer in Raleigh NC about guardianship, contact our office. Also be sure to visit back with our blog soon, as well will continue discussing this in detail.

Klish and Eldreth | Lawyer in Raleigh NC

When planning your estate, you may want to consider which assets are subject to probate and which are not so that you can make the best decisions in how you designate heirs. If you need additional help, reach out to our lawyer in Raleigh NC to ensure that you are creating the best plan for your situation. 

As always, please contact us with any questions or concerns you may have concerning legal issues. Also, contact our estate lawyer in Raleigh NC to schedule a consultation if you have yet to start estate planning. 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. In addition to estate planning, our lawyer is here to help you with all your small business needs, trademarking, copyrighting, or DWI issues.

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