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Estate Planning Updates for Spring Part Two

It’s important to stay in contact with your estate lawyer in Raleigh NC so that you can keep estate plans up-to-date. Doing this annually is key. Some choose to do so at the end or start of each year. Sometimes, doing this in spring is helpful. As you spring clean your home, you can do the same for your estate plan!

Estate Lawyer in Raleigh NC Talks Updating Estate Plans This Spring!

Business Interests: Work with an estate lawyer in Raleigh to look over your business corporation type and transfer restrictions.

  • Consider reviewing articles of incorporation to make sure there aren’t any other related restrictions in place.
  • Try checking your company records to see how interest in the company is owned.

Life Insurance/Retirement Plans: Certain types of possessions are called non-probate assets.

  • When properly set up, the nominated beneficiary will receive the assets upon your death.
  • Life insurance, annuities and retirement plans are often the most common non-probate assets.
  • It’s a good time to review named beneficiaries.
  • In some cases it may make sense to nominate your trust as the beneficiary. You should speak to your estate lawyer in Raleigh NC prior to doing this.
  • If you have young children who would become heir to the asset it is usually better for them to obtain it through a trust.

Keep in mind it’s a good idea to have an estate lawyer in Raleigh NC take a look at your plan any time a major life event occurs.  Those events could be a birth, death, marriage, divorce, move to a different state or substantial change in wealth. If it’s been a number of years since you created your estate plan, it might be a good idea to dust off your documents and evaluate whether or not they still meet your needs.
If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyer in Raleigh NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.
As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and  DWI issues.

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