Landon A. Dunn, PA |   info@landondunn.com |   704-688-0505 |   Monday - Thursday: 8:30 am - 4:00 pm | Friday: 8:30 am - 12:00 pm

FAQ

I just moved to North Carolina, do I need to update my Will, Living Will, Power of Attorney and Health Care Power of Attorney?

Each state has laws that specifically deal with the probate and administration of your estate. It is best to have your Will drafted and signed according to the laws of your resident state.

The Power of Attorney should be drafted specifically for the laws of the state you live in. The Health Care Power of attorney and Living Will are statutory form documents mandated by legislature for the state you live in.

I need a Will, Living Will, Power of Attorney and/or Health Care Power of Attorney, what information should I bring to my appointment?

You should know how you want your assets distributed when you pass and who will be the executor to settle your estate. You should also know who you want to manage your financial affairs if you cannot and who will make medical decisions for you if you cannot. If you have minor children, you should decide who will be their guardian and who will manage their money until they are responsible adults.

I have read a lot about needing a Revocable Trust to protect my assets from the State, is this necessary?

Probate in our state is a means to ensure that creditors are paid and that the beneficiaries of your estate are properly distributed the assets as directed by your Will. Life insurance, IRA’s, 401K’s, joint accounts with right of survivorship and real estate held by right of survivorship and real estate held by right of survivorship are not assessed fees by the probate court. Only assets held in your sole name are assessed at $4 per $1,000. A revocable trust is usually recommended to avoid estate tax when the total estate including life insurance, 401K IRAs, and all other assets is over $1 million.

My spouse and I have just separated; do I need a Separation Agreement? If so, why?

A Separation Agreement sets out the division of assets, curtails all rights of the marriage partnership and settles support issues. When parties separate a Separation Agreement should be prepared.

What information should I bring to an appointment to have a Separation Agreement drawn up?

You will need to initially bring in information on all assets that have been acquired during the marriage, copies of recent pay stubs and W-2 forms, tax returns and any real property valuations.

What are the requirements to get a divorce from my spouse?

  1. You or your spouse must be a resident of North Carolina for the past 6 months
  2. You must have been separated (living physically separate and apart) for one (1) year or more. All assets should be divided prior to filing for divorce.

I have been appointed as executor (executrix) of an estate, what information should I gather prior to my visit with you?

  • The original Will
  • Death certificate
  • Full names and addresses of all beneficiaries
  • Assets in sole name of decedent

What happens to my estate if I die without a Will?

Your assets will pass according to North Carolina Law. Heirs of the estate must agree on the administrator of the estate. The court will administer the funds of a minor until the child is 18 years of age.

I am in the process of buying a new house, is a survey necessary?

Yes, A survey is recommended because it establishes the property boundaries, identifies any encroachments on the property and allows the attorney to apply to the title insurance company for insurance as to matters of survey.

My grandparents are going to deed their property to me, should I get a title search done?

Yes, an attorney’s title search will identify if there are title defects such as unpaid deeds of trust, unpaid taxes judgments and provides certification of marketable title to the property.

Due to her failing health, we are thinking of putting my mother in a nursing facility, would deeding her current property out of her name help with Medicare/Medicaid eligibility?

Your mother’s home is considered exempt and not includable in the calculation for Medicaid. Careful consideration must be given before transferring property out of your mother’s name.

I am starting a new business, should I incorporate?

An LLC (Limited Liability Corporation) or a corporation provide liability protection. Protection from liability is an important factor to consider when starting a business.

The Secretary of State’s website has the forms to start a business, why should I hire an attorney?

The website provides the documents the Secretary of State requires but more documentation is needed for the formation of the Corporation or LLC to be a valid business entity.

Get In Touch

Matthews, NC Office

 624 Matthews-Mint Hill Road Suite 300 A Matthews, NC 28105
 704-688-0505
 704-443-7367

Charlotte, NC Office

 3210 Prosperity Church Road Suite 101 Charlotte, NC 28269
 704-688-0505
 704-688-0165

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