One of the most common estate planning questions clients ask is: “Do I really need a trust, or can a will accomplish my goals?” For many people in North Carolina, a well-drafted will is perfectly sufficient. Probate in many NC counties is not nearly as scary, slow, or expensive as it is sometimes made out to be. In straightforward estates, the process can often be completed in under a year, depending on the county, Read More
What is a full estate?
This type of case is called a full estate because it requires going through the full probate process. This process has three main phases. The first step is applying to open up the estate and determining who the heirs are under a will or under North Carolina law if the person that passed away did not have a will. The second step involves completing a detailed inventory of the property that is passing through the Read More
What is a Spousal Allowance?
A Spousal Allowance refers to the right a person has to claim the personal property of their spouse even if they have not gone through the full probate or estate administration process. This tool allows the surviving spouse to access funds ahead of the longer timelines and creditor claims that come with the completion of a full estate administration. The surviving spouse, with a few exceptions, may claim up to Read More
What is a Spousal Allowance?
A Spousal Allowance, technically known as an “Application and Assignment Year’s Allowance,” refers to the right that a person has to claim the personal property of his or her spouse after that spouse passes away. This tool allows the surviving spouse to access certain funds with priority over creditors and ahead of the longer timelines that come with the completion of a full estate administration. The surviving Read More
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