• Patrick D. Newton is a North Carolina Board Certified Specialist in Estate Planning and Probate Law.

Family Values and History are Still the Best Inheritance

Family Values. Family Traditions. Family History. Money is nice, but passing down your family values, traditions and history is the richer inheritance. A 2012 Allianz Life American Legacies Pulse Study* which surveyed baby boomers (age 47 to 66) and “elders” (age 72 and older) revealed a high percentage of both boomers (86%) and elders (74%) agreeing that family stories, values and life lessons are the most important part of a family’s legacy. Allianz Life did…

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What should I do with my Old Will?

Signing a new Will automatically revokes all prior Wills. Under North Carolina law, revoking a will or any part of a will can be revoked a variety of ways: a subsequent will or codicil a writing executed in the same manner as a will showing intent to revoke physically destroying the Will with intent and for the purpose of revoking it. One of these actions must be taken by the testator him or herself or…

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Fund your Living Trust to avoid Probate

I often meet with people who wish to avoid probate. Probate is a public court proceeding required to transfer a person’s assets at death. Probate can be lengthy and expensive. All assets owned in individual name (or jointly without survivorship) can only transfer to your loved ones through probate. Ways to avoid probate include survivorship rights, beneficiary designation and use of a trust. Assets owned jointly with right of survivorship automatically transfer to the survivor at death, but the…

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Trust Owned Life Insurance Reviews

If you are the Grantor or Owner/Trustee of a Trust Owned Life Insurance (TOLI) policy, chances are that you have not reviewed your trust or the insurance policies owned by the trust on a periodic basis to make sure to make sure that the insurance policy is not at risk. In fact, many policies have not been reviewed since their initial purchase. IS YOUR POLICY AT RISK? Rapidly evolving developments in insurance products and features…changes…

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