Many of us never consider the importance of estate planning but the truth is this is the best gift you can give your loved ones, simply letting them know your wishes. In some instances, this might be as simple as preparing a will and a property deed to transfer solely owned property. In other cases, you may need a more complicated estate plan.
Wills in North Carolina
Anyone who is of legal age and of sound mind can create a will. Wills include your wishes pertaining to how your assets are distributed upon your death. A will generally also includes specific instructions for donations to organizations, appoint a person to care for your minor children or a loved one with special needs, and provides information about the distribution of your assets to your heirs.
Durable and Healthcare Power of Attorney
A durable power of attorney is used to ensure if you are disabled or incapacitated and unable to manage your own affairs there is a person whom you trust to do so on your behalf. Powers of attorney may be limited to paying current debts, handling household bills, or may be as broad as allowing the nominee to make investment decisions or liquidate assets. We’ll take the time to discuss your options with you so you understand the breadth of the powers you are giving.
Healthcare decisions can be complicated if you are unable to communicate with your family or your medical team. North Carolina has a healthcare directive registry for those who wish to use it, however, this is not necessary to enforce your wishes. We can help you prepare a heath care power of attorney to allow you to appoint a person to act on your behalf making medical decisions in the event of your incapacity.
Assistance with Property Deeds
Those who are sole owners of physical property often wish to have property transferred to another person in the event of their death or disability. In these cases, having a deed prepared in advance can save your family time and money. We can help you prepare deeds during the estate planning process for immediate use or for later use.
Asset Protection Services
One of the many challenges of preparing your estate is dealing with the possibility you will need long-term skilled nursing care. In these cases, you will want to take steps to ensure your assets are preserved for your loved ones, instead of being used to deny you Medicaid benefits. We will discuss the best way to deal with your assets, making sure your heirs are getting the benefit of your years of hard work.
If you live in Edgecombe, Nash, Wilson County, or other counties in Eastern North Carolina and you need help preparing an estate plan, contact the Rocky Mount, NC offices of Best, Lawrence Law, PA immediately.