If you own a rental house or apartment, where others are paying rent to reside on your property, it should never be titled in your personal name. If so, and a tenant falls in the bathtub or on the stairs, your liability for their injuries, which could be lifelong, could take all of your assets. ... [Read More]
Category: Estate Planning
Your Taxes, Your Vote
The outcome of the national and state elections will determine what is likely to happen with the Tax Code in the immediate future. It is fascinating that expert advisors are already setting up on-line and telephone continuing education for immediately after the election on the anticipated new tax codes. They already have a pretty good... [Read More]
You Have to Prepare for Storms
In the same way that you have to prepare for physical storms of life, such as hurricanes, high winds, and snow storms, you have to be prepared for the other storms in life. Those storms can include stroke, dementia, heart attack, mental disability, your children’s divorce, car wreck law suits, and law suits by tenants... [Read More]
Use Written End of Life Directives
We are all going to pass on. Even Lazarus, who Jesus called out of the tomb, eventually passed on again and is not here among us. A Living Will gives your consent to removal of life support (often a ventilator) if you are terminally and incurably ill and death is imminent, or if you are... [Read More]
Plan for Mental Disability
You are six times more likely to become mentally disabled in a year than to pass on. Estate Planning is about planning for as many contingencies as possible. Mental decline, dementia, Alzheimer’s, or some other version of mental decline seems to be growing as we age. In a Revocable Living Trust a/k/a Living Trust, you... [Read More]
75% of Estate Plans Are Not Current
Studies show that approximately 75% of us do not have a current Estate Plan. They don’t match the desire of the individual to take care of themselves in the event of their mental disability or take care of their loved ones after they become mental disabled or after they pass on. If you don’t have... [Read More]
Overlooked Uses of Life Insurance in Estate Planning Class Tomorrow
Steve will teach a one hour Continuing Education class to CPAs, Accountants, Financial Advisors, and Insurance Professionals on needed uses of Life Insurance in Estate Planning that are often overlooked. This one hour class will offered at One North Pack Square, the Biltmore Building, Asheville, N.C., at 8:00 a.m. on Wednesday, September 26, 2012. Contact... [Read More]
Regardless of the Election
Regardless of the outcome the federal and state elections, Probate Court Costs in North Carolina can be up to $6,000.00 per person or $12,000.00 per couple. Administrative costs, much of that including attorney’s fees, will still average 5% to 7% of your assets that move through Probate Court. The average time to move through Probate... [Read More]
What About the Election?
The outcome of the Presidential Election is unlikely to resolve the Tax Code in 2013. As most people know, the Bush Tax Cuts of 2001 are set to expire on January 1, 2013. It has been long anticipated that there would be a one year extension of those tax cuts. The Republicans in the House... [Read More]
You Have to Tell the Truth
An experienced, relationship based Estate Planning Lawyer needs to know the truth before they can do good Estate Planning for you and your loved ones. That skilled, relational Estate Planning Lawyer needs to be able to know and understand you and your loved ones’ strengths and weaknesses, goals and concerns, and the real truth about... [Read More]