According to Barron’s Magazine, Estate Planning Attorneys say they are “seeing a flurry of inquiries from people seeking to update or draft wills and take other estate-planning measures amid the coronavirus crisis.” At Conrad Trosch & Kemmy, Michael Kemmy is here to ensure that you have the expertise you need, whatever your age or income…
Less than 50% of people with a salary of $80,000 or more have any estate planning documents, and up to 71.6% of Americans don’t have an up-to-date will. While estate planning may seem unnecessary when you’re in good health, not having an up-to-date will can cause a whole slew of problems in the event of…
Everyone will find themselves in need of an attorney at some point in their lives. Trustworthy legal advice can be indispensable, especially if you are going through a life-changing situation such as a divorce, a death in the family, or are involved in any type of civil litigation. Read on as we highlight services you…
There are a lot of misconceptions about Estate Planning. Most people believe that you have to be wealthy. That simply isn’t the case. Everyone should think about this as one moves through the various milestones of life such as getting married, having children, curating something special for your home that you would like to go…
In lieu of an intestate share or elective share, a surviving spouse may choose to take a life estate in one-third of the value of all real property owned by a deceased spouse during the marriage. A life estate is not the same as full ownership; rather, a life estate is an interest in land…
My mother left quite a large estate which included many valuable pieces of jewelry. My sister and her daughters have gone through the jewelry and taken several items even though we haven’t been through probate. Can we decrease her share of the estate by the estimated value of the jewelry? Assuming that this estate is…
As lawyers like to say, “It depends.” When a person dies, his or her entire financial life must be wound up, and every estate is different. Assets must be found, creditors identified and paid, and assets distributed to the proper beneficiaries. Probate is a process, not an event. Since we don’t know which estates will…
After our parents died, we were very surprised to learn that they had a great deal of credit card debt. Can the credit card companies force the estate to pay the debt? What many people don’t realize is that when a person dies, his or her debts do not just go away. Generally, assets in…
First, go to the Will which may state what your executor’s fee will be. If the Will is silent, North Carolina statutory law provides that you, as the executor, can receive up to 5% of the value of all personal property filed with the probate court as well as 5% of the total disbursements of…
Not normally. A Durable Power of Attorney authorizes your agent (called an “attorney-in-fact”) primarily to conduct financial transactions on your behalf. You should execute a Health Care Power of Attorney so your “health care agent” can make medical decisions for you when you are not able to do so for yourself. While a Durable Power…