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Did you recently move to Wilmington from another state? Every year, hundreds of families and retirees move to Wilmington from out of state to enjoy the weather and proximity to coastal waterways. As you settle into your new home, estate planning may be the last thing on your mind. If you already have a will…
Selecting the right name for your business is one of the most important steps you will take as a new entrepreneur. You need to choose a name that stands out, that accurately represents your brand, and that immediately tells your audience what unique purpose your business serves. But it’s admittedly not easy. Not only is…
Once you write and execute your will, you may eventually change your mind or decide that you don’t want the provisions to be set in stone. Fortunately, North Carolina law gives you the opportunity to revoke or change your will, even once it’s become valid by execution. How to Revoke A North Carolina Will When…
In short, succession planning is your corporate exit plan. Your exit plan answers the critical question: What do you plan to do with your business when you are no longer involved in it? It may seem counterintuitive to devise an exit plan right away when you launch your business – and to most business owners,…
The legal structure you select for your business is critical. It will impact your tax responsibilities, your ability to raise outside funding, and your liability exposure. In this article, we will briefly review five primary legal entity types. The Sole Proprietorship As a sole proprietor, you and your business are considered one and the same…
Starting your own business is an exciting experience for every new entrepreneur. Amid the excitement, however, there is often much uncertainty. If you are starting a business, it is important to go through full life cycle planning with an experienced business attorney. A business lawyer can explain how to start a business, identify risks that…
A “living will” is a type of advance directive that guides your family and healthcare team through the medical treatment you wish to receive if you are unable to communicate your own wishes. A living will is not a will, but rather, a document that speaks for you when you are unable to speak for…
A will in North Carolina is a binding legal document that dictates how your “estate” – that is, your personal property and real estate (depending upon how title is held) – should be distributed after you pass. The purpose of a will is to protect your property and your wishes by specifically outlining what will…
The Wilma Leadership Institute announced today Katie Greene’s selection to the 2019 Class. WILMA’s Leadership Institute gives up-and-coming leaders a unique opportunity to learn from top leaders in the region, visit a range of local companies, and serve as each others’ personal board of directors. Congratulations to Katie! She’s a Woman to Watch!
Once your child turns eighteen, they have reached the age of “majority.” The legal effect of that is that as a parent, you have no legal authority to make medical or financial decisions on your child’s behalf without legal designation as your child’s representative. This is a “worst case scenario” no parent ever wants to…