Estate & Financial Planning Articles
Estate Planning
Spousal Lifetime Access Trusts (SLATs): A Comprehensive Guide to Maximizing Estate Planning Benefits

Spousal Lifetime Access Trusts (SLATs) are a sophisticated estate planning tool that enables high-net-worth individuals to transfer wealth efficiently while maintaining access to the assets indirectly.

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Trustee Reporting Duties Under NC Uniform Trust Code

The fiduciary duties of a trustee are fundamental components of trust law, designed to ensure the trustee acts in the best interests of the beneficiaries.

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Insights from Wilson v. Wilson on Trustee Duties in NC

The North Carolina case Wilson v. Wilson, 690 S.E.2d 710 (N.C. Ct. App. 2010),** provides significant insights into a trust beneficiary’s right to receive trust accountings and the obligations of trustees under North Carolina law.

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Analyzing the Supreme Court’s Connelly v. Commissioner Decision

The June 6, 2024, U.S. Supreme Court ruling in Connelly v. Commissioner of Internal Revenue has captured significant attention in legal and financial circles due to its profound implications for estate taxation and corporate succession planning.

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Estate Planning
Common Estate Planning Pitfalls in North Carolina

Creating an estate plan is crucial for safeguarding your assets and ensuring your loved ones are protected.

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Estate Planning
Modifying Irrevocable Trusts in North Carolina: What You Need to Know

Irrevocable trusts, by design, are meant to remain unchanged. However, life’s unpredictability and evolving legal landscapes can sometimes necessitate alterations.

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Estate Planning
Limited vs. General Power of Appointments: Enhancing Estate Planning Flexibility

Within wills or trust documents, a power of appointment grants an individual, known as the power holder or done, the authority to designate another person, the appointee, as the recipient of all or a portion of assets.

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Estate Planning
Is Estate Planning Just For What Happens After I Die Or Can Estate Planning Benefit Me During My Lifetime?

In my experience, it is often much more important to plan in anticipation of incapacity during your lifetime.

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Asset Protection
IRS Issues Inflation Adjustments for Transfer Taxes Related to Estates and Trusts

In Rev. Proc 2022-38, the IRS provided inflation adjustments for various IRS Code provisions for taxable year 2023, including many relevant to trusts, estates, and gifts.

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Estate Planning
What Exactly Is a Trust, and Do I Need Different Types of Trusts in My Estate Plan?

A trust is essentially a contract between two people, one who is the grantor of the trust and the other the trustee or beneficiary.

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