July 9, 2016
by Raleigh Lawyer
Comments Off on Beginner Estate Planning Tips

Beginner Estate Planning Tips

Are you new to estate planning in Cary NC? If so, there are a few quick tips you might need to know about. Below, you’ll find an easy guideline to follow. If you have questions throughout this information, be sure to contact us, soon.

Tips for Beginners | Estate Planning in Cary NC

Living Will – One of the most important documents in an estate plan, there are many reasons why you need a Living Will. This document is designed to allow an individual to address questions that deal with life ending situations and whether or not they want to endure life sustaining procedures, in the event that they become critically incapacitated.

Designating a Guardian –  An untimely death can leave your children without a parent. It’s important to select a guardian that can care for your children when you pass. This individual should be someone that you trust to raise your children as their own. They will make financial decisions for them, as well as other life decisions.

Power of Attorney – A Will is often thought of as the most important part of an estate plan. In many cases, a Power of Attorney is just as important, if not more so. Financial affairs must be dealt with no matter what situation you find yourself in. Incapacitation and death are no exception.

Business Protection – If you own a business at the time of your death you should include a succession plan in your estate plan. If you own a partnership, there should be a plan or buyout agreement set forth so there aren’t any loose ends upon your death.

Beneficiaries – It’s important to name a beneficiary for all financials. This helps the accounts become automatically payable upon death to the correct person.

Klish and Eldreth PLLC

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.

July 7, 2016
by Raleigh Lawyer
Comments Off on How Can Divorce Affect Your Estate Plan? Part Three

How Can Divorce Affect Your Estate Plan? Part Three

No couple expects to divorce when they plan their estate together, but when the worst happens and you file for divorce from your partner, you will need to make sure you update those plans.

Estate Planning After Divorce | Wills Lawyer in Cary NC

When you are going through a divorce, the last thing you typically think about is the will you wrote with your former spouse when you got married. It designated who gets what and how your estate will be handled if you pass away. If you updated it when you had children, it may have instructions on who will become their guardians should something happen to both parents. Now that you are divorced, everything has changed, and you will need to update your estate plan to reflect your new situation.

In the last part of our blog series, our wills lawyer in Cary NC talked about creating a formal separation agreement and about how to name guardians for your children. Now let’s look at a few other things that need to be updated in your estate plan.

Naming an Executor of Your Estate | Wills Lawyer in Cary NC

Instructions in your will probably name who will be executor of your estate. In your original will, you probably named your former spouse, but now you will need to decide on another trusted family member or friend. Make sure that the documents in your estate plan name the new person you want to be your executor or trustee.

If you have a healthcare power of attorney outlined in your estate plan, make sure those are also updated. This person will make medical decisions on your behalf should you become incapacitated. It is likely you named your former spouse, but you will now want to designate another trusted family member or friend.

Be sure to visit with our final part of this blog series, soon. Have any questions? Contact our wills lawyer in Cary NC, today.

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.

Missed other blogs in this series? Visit with them below:

July 5, 2016
by Raleigh Lawyer
Comments Off on How Can Divorce Affect Your Estate Plan? Part Two

How Can Divorce Affect Your Estate Plan? Part Two

Welcome back. For those going through a divorce, you might be wondering how to go about estate planning in Cary NC and updating your plan. Over the course of this blog series, our lawyer will talk about this. If you have questions, be sure to contact our office.

Once the divorce has gone through, you will need to begin revising your estate plan. You can work with a lawyer to revise the components, such as the will, or you can start over with a new one. Your will is the document where you have designated who gets your property and who will be guardian of your children.

Designating Guardianship | Estate Planning in Cary NC

One of the most important parts of estate planning in Cary NC, if you are a parent, is deciding who will be the guardian of your children should you die or become incapacitated. In most cases, you would probably want your former spouse to have custody, but not all situations are that simple. You could have divorced your spouse and sought full custody and rights of the children because the other parent is not capable or willing to be a good parent. In that case, you will probably want to make sure someone you trust will have guardianship.

If you feel a judge may not agree with your decision to leave the children with someone other than the surviving spouse, you can include a letter of explanation as to why your choice is the best decision for your children.

Be sure to have a conversation with the person, or persons, you choose to make sure they will want to take on the responsibilities. If you leave a trust or benefits from a life insurance policy to your children, you will need to decide if you want the guardian to handle the financial aspects. Alternately, you can name someone else to handle finances to ensure your children are taken care of financially.

Stay tuned for the next post in this series on estate planning in Cary NC after divorce.

Klish and Eldreth, PLLC | Estate Planning in Cary NC

An attorney who knows about estate planning in Cary NC will be able to review your situation and provide the best solutions that will meet your needs and will also be legally sound. He or she may also suggest other things that you may not have considered before, such as creating a durable power of attorney or a healthcare directive to give guidance in situations where you may not be able to make decisions on your own anymore. There are many facets to an estate plan. Klish and Eldreth can talk with you about your situation and help guide you in creating a plan that meets your needs. Contact us, today.

Missed other blogs in this series? Visit with them below:

July 3, 2016
by Raleigh Lawyer
Comments Off on How Can Divorce Affect Your Estate Plan? Part One

How Can Divorce Affect Your Estate Plan? Part One

A couple who plans their estate together does not always stay together. If you file for divorce from your partner, you will need to revise your estate plan so that it reflects your new status.

Planning After Divorce | Estate Lawyer in Cary NC

Unfortunately, life does not always go as planned. A happy couple may not stay happy, and all of the things they have planned together, including what happens to their children and assets, will need to be updated to show their new decisions based on their new status as a divorced couple.

In this blog series our estate lawyer in Cary NC will take a look at how divorce affects your previously established estate plans and the steps you should take to modify it to reflect your new situation.

Formal Separation Agreement | Estate Lawyer in Cary NC

Once divorce proceedings have started, you should consider drafting a formal separation agreement that establishes rights to property, debts and if you have children, who will have custody. You may also want to consider including provisions in case you or your spouse dies unexpectedly before the divorce has been finalized.

If you plan to have custody of the children and want to seek child support, or you live in a state where you can receive spousal support, you may want to include in the agreement a requirement that your spouse buy a life insurance policy. The policy should be an amount sufficient to cover support in case something should happen to him or her. You should be named the beneficiary.

Once the divorce has gone through, you will need to begin revising your estate plan. You can revise the components, such as the will, or you can start over with a new one. Your will is the document where you have designated who gets your property and who will be guardian of your children.

Stay tuned for more information about divorce and estate planning. Our next blog will talk about designating guardianship.

Klish and Eldreth, PLLC | Estate Lawyer in Cary NC

As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact our estate lawyer to schedule a consultation if you have yet to start estate planning. It’s never too early to make plans for your wishes upon death. In addition, our attorney is here to help you with all your legal matters, whether it be estate planning, trademarking, copyrighting, or DWI issues.

Missed other blogs in this series? Visit with them below:

 

June 30, 2016
by Raleigh Lawyer
Comments Off on More Prep Tips for Meeting with a Small Business Lawyer

More Prep Tips for Meeting with a Small Business Lawyer

 

Welcome back! We are here to talk more about your first meeting with an attorney in Raleigh NC concerning small business startup!

Prep Tips for Meeting Your Attorney in Raleigh NC

Remember, in our last blog, we talked about starting off with making  checklist for things you’d like to cover in the meeting. You can either write a brief outline, write down specific questions, or simply list the subjects you want to cover, such as:

  • Contracts and Agreements
  • Choosing an Entity (Corporation, LLC, Partnership)
  • Business Plans
  • Property Rights
  • Federal, State and Local Regulations
  • Intellectual Property Law
  • Estate Planning

In the days or weeks leading up to your meeting, jot down other things that come up as you’re working that you may want to ask. Some may seem unimportant, but since this is your first meeting you will want to get as much initial information as you can. Also keep in mind that this will not be your only meeting with your lawyer, so you do not have to cover everything if that list has grown to several pages.

If you have extensive issues to discuss, it may be best to break it up into several meetings so that you can properly cover each issue. Of course, keep in mind that you will be paying for each meeting unless you are paying a monthly set fee. Before beginning a partnership with any lawyer be sure to get their fees upfront and find out how they will bill you. You do not want to be surprised with charges you were not expecting, especially if it can affect your business’ bottom line.

Now you should be all set to meet with your small business lawyer. If you have not found a lawyer to help with your small business, look no further than Klish and Eldreth. They offer services in business law and can help you whether you have just started your business or if you have an established business.

We hope these tips help you with your first meeting to talk with an attorney in Raleigh NC about your new business venture! Good luck!

Are you starting a small business? Get legal support from our small business attorney in Raleigh NC at Klish and Eldreth. We can help you get your business off to a strong start by ensuring that your legal needs are met.  We’re committed to your success and will do everything within our power to protect your company. In addition to business, consumer and contract laws, we can also handle intellectual property matters such as trademarking and copyrighting.

Klish and Eldreth, PLLC

As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact us to schedule a consultation if you have yet to start estate planning. It’s never too early to make plans for your wishes upon death. In addition, our lawyer is here to help you with all your legal matters, whether it be entertainment law, trademarking, copyrighting, or DWI issues.