Everyone needs an estate plan. Yet, many people are resistant to getting an estate plan because they are assumed to be expensive. At The Law Corner, we understand the importance of an estate plan and we make it affordable so that more people have the ability to get one.
Whatever your needs are, we can help you. We offer individual and package pricing. Our Will Package includes a North Carolina Will (with or without a testamentary trust), a Living Will, a Power of Attorney and a Health Care Power of Attorney. Our Trust Package includes a Revocable Living Trust or Irrevocable Special Needs Trust, a Pour Over Will, a Living Will, a Power of Attorney and a Health Care Power of Attorney.
Any person 18 years of age or older who is of sound mind may make a will. The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to prepare a will. A will is a legal document designating the transfer of your property and assets after you die. Wills are used to avoid the hassles of intestate succession and probate court, dictate funeral arrangements, determine how your assets will be divided and who will care for your children after you pass away. Without a will, your estate will be probated and the state, and not you, decides who is entitled to your personal items and granted custody of minor children. Having your estate probated leaves your heirs with a headache. No one should be without a will. Below are some frequently asked questions pertaining to wills. Wills are not just for the rich. The amount of your assets is irrelevant. A will ensures that what assets you do have will be given to family members or other beneficiaries you designate. A will is even more important if you have minor children because it gives you the opportunity to designate a guardian for them in the event of your death. Without a will, the court will appoint a guardian for your children.
By means of a Living Will you decide in advance what medical care and treatment you receive if you ever become unable to specify those wishes yourself. No one should be without a Living Will. A living will, or a “Physicians Directive,” is a document that tells your doctor or other healthcare providers whether or not you want life-sustaining treatments or procedures administered to you if you are in a terminal and incurable condition or a persistent vegetative state. It is called a “living will” because it takes effect while you are still living.
A Power of Attorney is a written document giving one person the full power and authority to represent another person. The person who gives the power is the principal, and the person who receives the power is the attorney-in-fact or agent.
This document gives the person you designate, your health care agent, broad powers to make health care decisions, including mental health treatment decisions, for you. Except to the extent that you express specific limitations or restrictions on the authority of your health care agent, this power includes the power to consent to your doctor not giving treatment or stopping treatment necessary to keep you alive, admit you to a facility, and administer certain treatments and medications.
A DNR order is issued by a patient’s doctor stating that if the patient’s heart should stop beating, or if the patient should stop breathing, no effort should be made to resuscitate him or her.Generally, a doctor writes a DNR order for patients who are terminally and incurably ill, or in a persistent vegetative state, and who do not want their life needlessly prolonged by resuscitation efforts.A living will is a patient’s decision not to have his life prolonged by artificial means when there is no reasonable hope of recovery. Healthy people often have a living will because it allows them to make this decision in advance. The patient uses the living will to express his wishes about the end-of-life-care he wants.A living will and a DNR order are different documents that can work together, but one is not dependent upon the other. Your living will may be honored even if there is no DNR order entered into your medical record.
When a trust is created during the lifetime of the owner, it is commonly referred to as a living trust. If the trust is created under the terms of a will, it is called a testamentary trust, which becomes effective at the time of death.A living trust can also be a revocable trust. A revocable trust means that the trust creator, or “settlor,” also has the power to revoke or amend the trust. The settlor can be the beneficiary of the trust, and can also be the trustee of the trust.
A pour over will is a type of will that is used in conjunction with a trust. This kind of will “pours” any property the deceased still owned at the time of death into the trust that the person set up during his or her life.There are several advantages to a pour over will. Often, it is not practical to transfer all of your property into trust during your lifetime. Having a pour over will ensures that the property that did not belong to the trust during your life will make it into the trust after your death.
When a loved one passes away, often their estate must pass through a process called probate. Probate is the procedure in which the estate of the person who died (descendant) is divided and distributed among his heirs. Probate is generally held in the county in which the decedent was domiciled.
Only need a basic Will? Get started by taking a few minutes to complete our Basic Will Information Form. After we receive your information, we will schedule a telephone consult between you and one of our attorneys. Once your Will is complete, we will send you a proof to review and approve. Once approved, we will mail you a final hard copy of your Will with instructions on executing your Will.
Our fee to create a will at The Law Corner is dependent upon the complexity of the Will. Here is some of our will pricing information:
There are four basic planning needs for all individuals independent of income, assets, debts, health, age or status. They are the Will or Will with Testamentary Trust, a Living Will, Financial Power of Attorney, and a Health Care Power of Attorney. These documents are perhaps the most important legal documents the average American will ever sign. Yet, the overwhelming majority of adults in the United States do not have one or the other. There are many misconceptions as to whether someone needs estate planning. To learn more, click the subject areas above. I am sure you will gain an understanding of the importance an estate plan plays in all our lives.
Thank you for visiting us on the web, we look forward to serving you. Call (919) 424-8319 and schedule an appointment. Please make sure to bring any prior estate planning documents with you.
The Law Corner Attorneys help people all over Wake County to include the following areas: Knightdale, Wake Forest, Raleigh, Morrisville, Apex, Wendell, Zebulon, New Hope,Cary, Rolesville, Fuquay-Varina, Holly Springs, andGarner.