Your North Carolina Wills, Trusts, & Estates Explained Simply: Important Information You Need to Know for North Carolina Residents

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Overview

Few people want to think about what would happen to their family if they become disabled or die; however, planning for these occurrences in advance will reduce potential stress on your family later in life. This new book will take the guesswork out of planning your estate and help you finally understand the complex processes.

The right plan can protect the value of your estate and spare your loved ones unnecessary hassles and legal conflicts. Your North Carolina Wills, Trusts, ...

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Overview

Few people want to think about what would happen to their family if they become disabled or die; however, planning for these occurrences in advance will reduce potential stress on your family later in life. This new book will take the guesswork out of planning your estate and help you finally understand the complex processes.

The right plan can protect the value of your estate and spare your loved ones unnecessary hassles and legal conflicts. Your North Carolina Wills, Trusts, & Estates will help you glide through this complicated process. This new book has been adapted to offer North Carolina residents state-specific advice for estate planning.

Author Linda C. Ashar, Attorney at Law, has crafted an estate planning primer, allowing North Carolina residents to become more informed and more involved during the process.Your North Carolina Wills, Trusts, & Estates will provide all the information you need to choose, set up, and execute a will, trust, or estate. You will learn the legal terminology, including beneficiary, probate, trustor, trustee, assets, guardianship, and executor. You will also learn about trust agreements, trust property, settlement costs, life insurance, durable power of attorney, marital deductions, gift splitting, survivorship deeds, gift tax issues, generation skipping transfer tax, tax deferred accounts, and advance directives.North Carolina-specific information is offered throughout this book, including: North Carolina probate code; North Carolina rules, regulations, and laws specific to estate planning; elements of a valid North Carolina will; planning your living will in North Carolina; explanations of North Carolina laws regarding durable health care power of attorneys, do not resuscitate (DNR) orders, and directives to withhold CPR. The book’s easy-to-understand context clarifies this complicated and sensitive subject and gives readers the power to take control of their future.Whether you are writing your will, establishing a trust, planning your estate for the first time, or updating and revising your previous plans, Your North Carolina Wills, Trusts, & Estates will give you all the tools and knowledge you need to decide where and to whom your assets will go when you die. Other books offer a non-state-specific overview of estate planning, causing many readers to be misinformed about rules and regulations particular to their state; but, this new book provides information North Carolina residents need to know. Do not get outdated or wrong information that does not pertain to you specifically. Use this new book to craft an estate plan that is not only legally sound but also fully carries out your last wishes and protects your loved ones.

Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president’s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice.  Every book has resources, contact information, and web sites of the products or companies discussed.

This Atlantic Publishing eBook was professionally written, edited, fact checked, proofed and designed. The print version of this book is 288 pages and you receive exactly the same content. Over the years our books have won dozens of book awards for content, cover design and interior design including the prestigious Benjamin Franklin award for excellence in publishing. We are proud of the high quality of our books and hope you will enjoy this eBook version.

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Product Details

  • ISBN-13: 9781601384195
  • Publisher: Atlantic Publishing Group Inc.
  • Publication date: 4/30/2011
  • Pages: 288
  • Sales rank: 1,064,440
  • Product dimensions: 6.00 (w) x 8.90 (h) x 0.80 (d)

Table of Contents

Introduction: Estate Planning: What Is It? 9

Chapter 1 Getting Started 11

Estate Planning Simplified 12

Everyone Dies: A Simple Statement, Complicated Implications 13

Money Talk 15

I Do What with All This? 16

Here and Now 19

What This Work Can Do 23

What Exactly is Involved 24

Chapter 2 Estate Planning Basics 29

Debunking Myths 30

Your Estate 33

People 34

Who Will Carry Out Your Wishes in Your Place? 43

People of Influence 50

Chapter 3 Components of an Effective Estate Plan 55

Legally Speaking 56

Defining Your Estate 59

Pass the Parchment 60

Chapter 4 Taxes 75

Federal First 76

Now for the State 80

When, Not If, You Pay 83

Chapter 5 Wills 93

Will Basics 94

Wills Defined 95

The "Other" Will 103

People Speaking for You 106

Change and Your Will 108

Chapter 6 Trusts 111

What is a Trust? 112

Types of Trusts 116

Pros and Cons of Forming a Trust 122

Chapter 7 Insurance 125

Insurance for Here and Now 127

Insurance for After You Are Gone 135

Varying Beneficiaries 137

Chapter 8 Retirement Accounts 141

Your Nest Egg 142

IRAs and Then Some 146

Your Government Nest Egg 148

Protecting Your Eggs 151

Retirement/Estate Planning Strategy 153

Chapter 9 Setting Priorities 157

Your Own Who's Who 158

Memory Lane 163

Your "People" 166

Must-Do 167

Chapter 10 Choosing Who, What, How, When, and Why 171

Who and When: The Matching Game 172

When: Today Tomorrow, or Later? 175

How: The Professionals 177

Chapter 11 Planning Your Estate: Last Will and Testament in North Carolina 185

Elements of a Valid North Carolina Will 186

Revocation of a Will and Questions about Change of Heirs 192

Changing Your Will - Codicils 193

Where to Keep Your Will 193

Beneficiaries, Debts, and Entitlements 194

Antilapse 197

Nuncupative (Oral) Will in North Carolina 198

Intestate in North Carolina 198

How Your Will Might be Challenged 199

A Different Type of Will - Your Living Will in North Carolina 200

Chapter 12 Keeping it Current 203

What Changes? 204

What Does "Maintenance" Look Like? 206

What to Go Over 210

Your Desk 211

One Last Motivator: Probate and You 213

Conclusion 221

Appendix A Estate-Planning Worksheets 223

Your Estate in Black and White 223

Prioritization 225

Who, What, How, and When 227

Essential Documents and Accounts Inventory 227

Party Planning with an Unusual Twist 247

Estate Plan Summary Sheet 249

Annual To-Do List 251

Appendix B North Carolina Advance Directive 253

Appendix C Glossary of Terms 263

Bibliography 283

Index 285

Biography 288

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Sort by: Showing 1 Customer Reviews
  • Posted August 6, 2012

    Your North Carolina Wills, Trusts, & Estates is a definite m

    Your North Carolina Wills, Trusts, & Estates is a definite must read for any North Carolina residents that are considering what to do in the event of their death. I learned from reading this book that just designating a set of Godparents from my daughter does not mean that in the event of my death, she will automatically go to them. I learned that I would also have to designate them as her guardians in my will, as well. I also learned that if I choose to do a joint will with my husband, even if he were to precede me, I could not make any changes to that will, so it is better to file separate wills instead. This book has been very enlightening to me in letting me know exactly how to plan my estate.

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