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Everyone should have an estate plan, no matter the size of their estate or assets. Attorney Ryan Stump of Charlotte Estate Planning provides unparalleled service to ensure you control who manages your assets and how they are distributed.
Attorney Stump understands the sensitive and challenging nature of making end-of-life decisions. We’re focused on providing comprehensive estate planning with compassion, patience, and respect.
It’s never too early to create an estate plan. Contact us today at 704-766-8836 to get started.
Failing to have clear and properly executed estate planning documents can open the door for future conflicts. When you hire an experienced estate planning attorney in Charlotte, NC, you can ensure your estate plan meets the necessary requirements. This will significantly reduce the odds of your wishes being contested or overturned later on.
Your estate plan should give you peace of mind that your assets will be preserved, any estate administration fees and taxes will be avoided, and those you wish to inherit your estate will be able to do so upon your death.
We assist with estate planning matters including:
A Will, sometimes called a Last Will and Testament, is a document that outlines your wishes as to how your assets are to be distributed after your death. If a person dies without a valid Will, state statutes and the court system will determine how your assets are distributed and who will care for any minor children. Whether you need help drafting a will or wish to update one you already have, we’ll ensure it’s valid, properly executed, and meets all North Carolina legal requirements.
A Trust arranges for the distribution of assets from you to a person or persons of your choosing, who are referred to as beneficiaries. The most common types of trusts are Irrevocable Trusts and Revocable Trusts. We assist clients in drafting both types of trusts depending on their estate planning needs. In addition to these types of trusts, we also assist with trust modifications and establishing Gun Trusts.
Durable Power of Attorney
A Durable Power of Attorney is a form that appoints an Agent to manage a wide range of the Grantor’s affairs, often involving financial and property transactions. Unlike a Healthcare Power of Attorney, a Durable Power of Attorney typically comes into existence immediately upon execution of the document, so it is imperative that someone you trust is nominated as your Agent. We’ll help you choose the right agent and understand the authority you’re giving them.
Healthcare/Medical Power of Attorney
A Healthcare Power of Attorney is a form that allows an individual to make critical medical decisions on your behalf. In assisting you with drafting your Healthcare Power of Attorney, we will take the time to ensure you understand the powers you are granting, consider any limitations of said, and help you carefully consider the individual(s) you are nominating to act as your Healthcare Agent.
A living will is distinct from a Healthcare Power of Attorney; if drafted correctly, however, the two can work together. Instead of appointing an individual to make medical decisions if you become incapacitated, you can state your wishes for end-of-life care in a written living will. Retain your personal agency by dictating your wishes for what steps you want medical providers to take — or not take — through a living will if you become unable to express informed consent.
A gun trust is unique because it allows you to transfer firearm titles more easily and efficiently upon passing. This type of trust can be especially useful for gun collectors and weapons enthusiasts who plan for their arms to be part of their estate inheritance. With the stringent federal and state regulations that apply to the ownership of firearms, a gun trust can carve the path to a smooth and legally compliant transfer.
Asset protection is a piece of the planning process used to shield your assets from actions such as legal judgements, creditor claims, and/or claims by ex-spouses. A number of legal tools are used to achieve these goals, such as Irrevocable Trusts, insurance policies, a Limited Liability Company (LLC), or a Family Limited Partnership (FLP). From businesses you own to physical property such as real estate to financial assets like your retirement fund, we’ll create a plan to help safeguard all your assets and secure what you’ve earned.
Probate & Estate Planning
Estate administration or Probate involves the process of validating and administering the terms of an individuals Will after they die or administering the person’s estate per State statute if they die intestate. The probate process can be time-consuming and expensive, which may delay assets being distributed to your heirs and significantly reduce the value of your estate. It is important to consider planning options to avoid probate or significantly reduce the amount of assets going through probate upon your death. We’ll guide you through this process and ensure all assets are distributed correctly.
Although estate planning is often regarded as an elder law practice, people of all ages benefit from having a comprehensive estate plan created. At a minimum, everyone should have an estate plan to:
Now is the best time to make estate planning decisions while you’re healthy and of a sound mind.
While many online estate planning solutions seem quick and easy, a DIY approach may land you in a worse position than having failed to plan at all.
With the help of an estate planning attorney in Charlotte, NC, you can rest assured that your family will be taken care of long after you’re gone.
Attorney Ryan Stump understands North Carolina law and can help ensure your estate plan:
Is legally valid
Clearly states your intentions
Achieves your goals
Minimizes estate taxes
Reduces the likelihood of probate
Attorney Stump has both personal and professional experience handling estate planning matters in North Carolina. He takes the time to work with you through a personalized approach that fits your wants and wishes. With his help and a thorough estate plan, your family can avoid probate — a long and expensive process to distribute your assets.
Our Estate Planning Lawyers Can Also Help With:
Life Insurance Policies
If you don’t have one already, adding a life insurance policy to your estate plan can serve a number of different benefits. For individuals who have no exposure to estate taxes, life insurance is beneficial if you have a family that depends on you as the primary source of income or need additional funds to pay for things such as funeral expenses. For individuals exposed to estate taxes, life insurance can be used to pay any estate taxes due upon your death.
Planning for charitable giving should may be part of your estate plan. Special types of trusts such as charitable lead or charitable remainder trusts can provide creative solutions to minimize estate tax while allowing you to donate to charity as you see fit. In fact, giving to charity during your lifetime and after your death can significantly reduce taxes on your estate.
Gift Tax Planning
While gifts made to charities are one way to lower your taxable estate, you should also consider making gifts to family members during your life. Utilizing the annual gift tax exclusion is another way to lower your taxable estate upon death, while also potentially reducing your exposure to annual income tax. Some exclusions allow for tax-free gifting; we’ll walk you through all gift tax considerations and create a strategy to fit your financial situation.
Business Succession Planning
When you’ve worked hard to build a thriving business, you want to ensure its seamless transfer and success after your death. You should have the final say in how your business is run. To achieve that, we’ll work with you to understand your goals and expectations, then reach the best way to transfer your business.
In the event of an untimely death, your estate plan can be used to express your wishes as to who you nominate to take custody of and care for your minor children. The failure to appoint a guardian for your children under 18 will result in the court appointing a guardian without your input. If you have minor children or plan to in the future, your estate plan must detail your wishes when it comes to appointing a guardian in the event of your death.
Estate planning has no cookie-cutter solution. Each plan must account for your specific needs and goals. We’ve found that the best approach is to work as a team, ensuring all of your questions are answered, and informed decisions are made after considering all the available options.
Let an experienced estate planning attorney in Charlotte, NC help create an estate plan custom-tailored to you, by listening and carefully evaluating your financial situation.
Call today. Available 24/7704-766-8836