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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 MoreBy: Joseph Horowitz Spoliation is the failure to preserve evidence. Parties to a lawsuit may not alter, destroy or conceal evidence. The penalties for spoliation can be harsh – such as striking a pleading, dismissal of an action, an adverse inference jury instruction or monetary penalties against the spoliator. This article will give an overview…
Read MoreTake 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 MoreIntestate 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 MoreBefore 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 MoreA 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 MoreTrusts 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 MoreIf 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 MoreRountree 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…
Read MoreNorth Carolina has many statutes and rules that apply to its 20 coastal communities. If you are a property owner in a regulated area and are planning any work on your property, it is important to be familiar with the relevant regulations and required permits.
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