Estate Planning & Administration
What is Guardianship?
There are three types of guardianship in North Carolina : Guardian of the Person, Guardian of the Estate, and General Guardianship (this combines Guardian of the Person and Guardian of the Estate) . Other states, such as California, may call this conservatorship and other states may have a combination of Guardianship and Conservatorship. Guardianship is…
Read MoreUnderstanding the Probate and Estate Administration Process in North Carolina
If you are facing probate in North Carolina, it helps to understand the fundamentals of the probate and estate administration process in North Carolina. The best place to start is hiring an experienced Wilmington estate planning attorney who understands how the probate law works in North Carolina and can walk you through the entire process.…
Read MoreWhat Is a Power of Attorney?
Power of attorney is a legal instrument that grants a designated person the power to make decisions on your behalf if you are not physically present or incapacitated. The agent may be responsible for managing your property, finances, and/or medical affairs. There are different types of powers of attorney, and different individuals can be designated…
Read MoreWhat is a Business Succession Plan?
Take a moment to think about what would happen to your business if you passed on or became incapacitated. Can the company survive? If that thought sets you in a panic mode, you need to consider creating a business succession plan. With a succession plan, you can spot critical roles in the organization and the…
Read MoreWhat Is Intestate Succession?
Intestate refers to dying without having a valid will. Based on the law of inheritance, intestate succession is what happens to property that has not been distributed by a legal will or other binding declaration. In North Carolina, if you die without a valid will, the state intestacy law will apply. This means that the…
Read MoreWhat Is a Living Trust?
Before we discuss what is a living trust, let’s first discuss what is a trust. A trust is an estate planning tool where you retitle your assets from your name to the name of the trust. Once the assets are retitled to the name of the trust, the assets are governed by its terms. Trusts…
Read MoreWhat is a Living Will?
A living will (also known as an advance directive) is a legally binding document that allows you to outline your end-of-life medical preferences if you cannot communicate them. This document informs your doctors and caregivers of your choices in certain circumstances, such as when you are in a coma or permanently unconscious, terminally ill, or…
Read MoreTrust vs. Will: What’s the Difference?
Trusts and Last Will and Testaments (commonly referred to as wills) are common terms used in the estate planning landscape. Although both are valuable estate planning documents that help ensure your property is transferred to your heirs, they serve different purposes. The primary difference between a trust and a will is that trusts can take…
Read MoreDo I Own The Water Behind My House In North Carolina?
If you’ve recently purchased property that borders a stream, river, lake, or other body of water in North Carolina, you may be wondering what your rights are to the water behind your house. Do you own it? Can you build structures, such as a dock, on the water? How far do your rights extend?
Read MoreOur Growing Estate Planning & Administration Practice
Rountree Losee is proud to welcome Wilmington estate planning attorney Michael A. Becker to our growing law firm. Mr. Becker brings valuable experience in estate planning, estate administration, and trust administration to Rountree Losee’s established estate planning practice, providing our clients with skillful counsel and guidance. Prior to joining Rountree Losee, Mr. Becker practiced in…
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