So, You’re a Trustee…Now What Do You Do? (And Who Can You Call for Help?)
April 24, 2026
You may think you know what it means – and what it takes – to be a Trustee, but what does the role really…
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25 Ward and Smith Attorneys Recognized as 2026 North Carolina Super Lawyers and Rising Stars
February 18, 2026
Ward and Smith is pleased to announce that 25 of its attorneys were recognized in the 2026 North Carolina Super Lawyers and Rising Stars…
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How to Contest a Will in North Carolina: The Basics
January 20, 2026
We all know that a person can control who will own his or her property after death by signing a will. But when questions…
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38 Ward and Smith Attorneys Recognized as 2026 Business North Carolina Legal Elites
January 9, 2026
Ward and Smith is pleased to announce that 38 of the firm’s attorneys have been recognized in the 2026 Legal Elite by Business North…
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Hunter Morris and Peter von Stein to Speak at Inaugural Landowner Summit
December 22, 2025
Ward and Smith attorneys Hunter Morris and Peter von Stein will speak at the Inaugural Landowner Summit on Friday, January 9, 2026, at the…
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Virginia Carter and Matt Thompson Quoted in North Carolina Lawyers Weekly on Major Federal Tax Law Changes
December 1, 2025
Ward and Smith attorneys Virginia S. Carter and Matthew W. Thompson were recently featured in North Carolina Lawyers Weekly, sharing their insights on the wide-ranging impacts…
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Ward and Smith Ranked by Best Law Firms® in 2026
November 6, 2025
Ward and Smith, P.A., has been recognized in the 2026 Edition of Best Law Firms®. The firm was ranked by Best Law Firms in 30 practice…
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Can an Irrevocable Trust be Changed? A Guide for North Carolina Families
October 24, 2025
Irrevocable trusts are often viewed as rigid, permanent components of an estate plan designed to preserve wealth, minimize taxes, and protect assets. However, as…
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Ward and Smith Welcomes Five Attorneys Across Multiple Practice Areas and Locations
October 8, 2025
Ward and Smith, P.A. is pleased to announce the addition of five attorneys who bring a wide range of experience to the firm’s litigation,…
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Zac Lamb Re-Elected to NCBA Estate Planning & Fiduciary Law Section Council
September 10, 2025
Trusts and estates attorney Zac Lamb has been re-elected to a three-year term on the North Carolina Bar Association’s Estate Planning & Fiduciary Law…
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68 Ward and Smith Attorneys Honored by Best Lawyers® for 2026
August 21, 2025
Ward and Smith is proud to share that 68 attorneys have been recognized by Best Lawyers in America®. Of those honored, 55 were named to…
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Long-Term Care and the Family Farm: Legal Planning to Preserve Agricultural Assets
June 27, 2025
For many farming families, preserving the family farm is a deeply rooted goal—and a legal challenge that becomes more complex with age. As the…
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Why Wait? – Estate Planning for Young Families
May 30, 2025
Estate planning is often perceived as a concern only for the wealthy. Especially in the beginning stages of building a family, legal documentation is…
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Terri Sharp to Speak on Estate Planning at Twin Rivers YMCA’s “Learning Lunch”
April 3, 2025
Trusts and estates attorney Terri Sharp will be the featured speaker at the Twin Rivers YMCA’s upcoming “Learning Lunch” on Wednesday, April 16, from…
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Attorney Zac Lamb to Speak at Western NC Farm Succession School
March 17, 2025
Ward and Smith attorney Zac Lamb will be a featured speaker at the Western NC Farm Succession School on Thursday, March 27, at the…
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Ward and Smith Attorneys to Speak at Central NC Farm Succession School
March 3, 2025
On Friday, March 21, 2025, Ward and Smith attorneys Zac Lamb, Hunter Morris, and Sydney Smith will share their insights at the Central NC…
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25 Ward and Smith Attorneys Shine in 2025 Super Lawyers and Rising Stars Lists
February 18, 2025
Ward and Smith is thrilled to announce that 25 of its attorneys have earned spots on the prestigious North Carolina Super Lawyers and North…
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When to Revisit Your Estate Plan
February 14, 2025
So the saying goes: “One year older, one year wiser.” But when does turning the page of the calendar warrant more paperwork than…
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Zac Lamb to Speak at Land of the Sky Estate Planning Council Event
January 22, 2025
On Thursday, January 23, trusts and estates attorney Zac Lamb will join Tate Groome, with Colton Groome Financial, to present an in-depth discussion on Connelly…
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Ward and Smith Attorneys Honored as 2025 Business North Carolina Legal Elites
January 6, 2025
Ward and Smith is proud to announce that 38 of its attorneys have been named to Business North Carolina’s 2025 Legal Elite, a testament to…
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A Year in Review: Ward and Smith’s Most Read Legal Insights in 2024
December 23, 2024
As we prepare to close out 2024, we’re taking a moment to reflect on the articles that captured the attention of our readers this…
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Ward and Smith’s Year in Review: Celebrating Excellence, Resilience, and Growth in 2024
December 20, 2024
As 2024 draws to a close, we reflect on a year defined by Hurricane Helene, many new faces, and industry recognition for our attorneys.…
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Legal Pause: Preliminary Injunction on Corporate Transparency Act Enforcement
December 4, 2024
On December 3, 2024, in the matter of Texas Top Cop Shop, Inc., et al. v. Garland, et al., the U. S. District Court…
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Media Mention: Jenny Boyer and Matt Thompson Share Estate Planning Insights in Business North Carolina
November 26, 2024
Trusts and estates attorneys Jenny Boyer and Matt Thompson are featured in the November issue of Business North Carolina with their insightful article, “Death…
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Securing Your Legacy: How Marital Estate Rights and Divorce Impact Your Estate Plan
November 25, 2024
Once married, spouses acquire a number of rights in and to the estate of the other spouse. Marital estate rights create the potential for…
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Death and Taxes for North Carolina Business Owners
November 22, 2024
Changing tax laws, political uncertainty, and the whole family at Thanksgiving can take us on a roller coaster ride of ups and downs. But…
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Weathering the Storm: How to Get Your Affairs in Order
November 12, 2024
In the aftermath of Hurricane Florence in 2018, I wrote this article to help individuals and families navigate the legal and financial issues that…
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Ward and Smith Ranked by Best Law Firms® in 2025
November 11, 2024
Ward and Smith has been honored in the 2025 edition of Best Law Firms®. The firm has made its mark in the legal field by being ranked…
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Ward and Smith Welcomes Two New Attorneys to Raleigh Office
November 8, 2024
Ward and Smith is pleased to announce the addition of two new attorneys, Hunter Morris and Mark Wigley, to the firm’s Raleigh office. Both…
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Canceled: Ward and Smith Partners with Legal Aid of North Carolina and Campbell Law School to Host Free Wills Clinic
October 16, 2024
10/22/24 Editor’s note: The free Wills Clinic has been canceled to focus on relief efforts in Western North Carolina. Ward and Smith is excited…
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Ward and Smith Welcomes New Additions Across Key Practice Areas
October 7, 2024
Ward and Smith is excited to announce new talented additions to our team. These promising individuals bring fresh perspectives and skills to enhance our…
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North Carolina Agritourism and Liability Waivers
August 30, 2024
Strengthening the bond between farm and table, agritourism flourishes in North Carolina as both the agribusiness and agriculture sectors buoy the state’s economy with…
Firm News
67 Ward and Smith Attorneys Recognized by Best Lawyers® in America for 2025
August 15, 2024
Ward and Smith is pleased to announce that 67 attorneys have been recognized by Best Lawyers®. Fifty-four attorneys were chosen for inclusion in…
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The Toils of Heirs Property and Agriculture in North Carolina
June 4, 2024
The farmland of North Carolina cradles not only agricultural abundance but also a significant legal challenge: heirs property (also commonly known as “heirs’ property”…
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Our May Focus: Working Through Difficult Times
May 31, 2024
The May theme, “Working Through Difficult Times,” revolves around acknowledging and addressing the challenges individuals and businesses face during challenging times. Easing the Burden:…
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Easing the Burden: The Gift of Planning for Incapacity
May 3, 2024
Normal aging can be challenging, but caring for an aging family member with dementia is particularly difficult. Over the years, we have often seen…
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Jenny Boyer Recognized as a Top Author by JD Supra with 2024 Readers’ Choice Award
March 7, 2024
JD Supra, the go-to platform for legal insights, has presented trusts and estates attorney Jenny Boyer with its prestigious 2024 Readers’ Choice Award. This…
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Our February Focus: Love, Relationships, and the Law
February 27, 2024
This month’s theme explores the intersection of love, relationships, and the legal frameworks that govern them. Protecting Your Family Business for When Marriages End By…
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Can You Feel the Love Tonight? Estate Planning for Couples
February 23, 2024
Let’s be honest. Legal documents are not written in anyone’s love language. On Valentines Day, we undoubtedly would prefer to exchange thoughtful presents, enjoy…
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Ensuring a Furry Future: Estate Planning for the Pets We Love
February 16, 2024
Pets are not just animals, they are cherished members of our families, providing unconditional love and companionship. That is why, as responsible pet owners,…
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Who Will Take Care of My Horse When I Die?
February 9, 2024
“Want a stable relationship? Get a horse.” “Horses lend us the wings we lack.” “There is no better place to heal a broken heart…
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Ward and Smith Attorneys to Speak at ASAP’s 2024 Business of Farming Conference
February 1, 2024
Attorneys Jenny Boyer, Bill Durr, and Avery Locklear will speak at the 2024 Business of Farming Conference hosted by ASAP (Appalachian Sustainable Agriculture Project) on Saturday, February…
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Zac Lamb to Speak at the Land of the Sky Estate Planning Council Meeting
January 23, 2024
Get ready for a compelling discussion on business succession planning with Ward and Smith Trusts and Estates attorney and Business Succession Practice Group leader…
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21 Ward and Smith Attorneys Honored by North Carolina Super Lawyers in 2024
January 16, 2024
North Carolina boasts an impressive array of legal talent, and this year, we’re thrilled to announce that 21 of our attorneys have been recognized…
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Top 10 Articles for Businesses in 2023
December 28, 2023
As we eagerly anticipate the New Year, it’s time to reflect on the most impactful articles that captured the attention of businesses in 2023.…
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Ward and Smith: Our Highlights of 2023
December 27, 2023
As we reflect on the past year, it’s evident that 2023 has been remarkable for Ward and Smith. We’ve welcomed new team members, launched…
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Senior Savvy: Wise Owls Navigating Cyber Scams
December 6, 2023
As the relentless march of technology continues, scams have evolved into cunning traps, presenting a challenge to individuals of all ages. Among the great…
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Ward and Smith Attorneys to Speak at the Farming the Future Conference
November 20, 2023
Three Ward and Smith attorneys are set to deliver an insightful presentation at the upcoming Farming the Future Conference hosted by Coastal Agribusiness. The…
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Ward and Smith Ranked in 2024 “Best Law Firms”
November 2, 2023
Ward and Smith has been ranked in the Best Lawyers® “Best Law Firms” list regionally in 27 practice areas. Firms included in the 2024 “Best Law Firms”…
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Ward and Smith Welcomes Five New Attorneys
October 5, 2023
Ward and Smith is delighted to welcome a dynamic cohort of five attorneys. Representing a breadth of capabilities spread throughout multiple offices, these professionals…
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Media Mention: Jenny Boyer’s Trust Planning Article Referenced in a Wealth Strategies Journal Post
September 22, 2023
Wealth Strategies Journal recently highlighted the insightful work of Trusts and estates attorney Jenny Boyer. The publication directed readers to Jenny’s article “Gimme Shelter: General…
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Gimme Shelter: General Trust Planning for Future Generations
September 6, 2023
Some are quick to dismiss asset protection trust planning as too complex or unnecessary. For those not in a “certain tax bracket,” this type…
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52 Ward and Smith Attorneys Recognized by Best Lawyers in America® for 2024
August 17, 2023
Ward and Smith proudly celebrates an incredible achievement—over half of our esteemed attorneys have gained recognition from one of the nation’s most respected legal…
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Get Your Affairs in Order with Trusts and Estates Attorney Terri Sharp at The Viridian
August 15, 2023
Join trusts and estates attorney Terri Sharp for an enlightening Lunch and Learn to help you get your affairs in order. She will be…
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Is Your Estate Plan Past Due for a Check-Up?
August 4, 2023
Estate planning professionals help clients look ahead and anticipate future contingencies. By necessity, however, estate plans are crafted based on laws and circumstances existing…
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Prepare for the Unexpected: Eldridge Dodson to Talk Estate Planning at Parkinson’s Disease Support Group
July 12, 2023
Navigating life’s uncertainties is difficult enough—but managing financial matters with a chronic illness like Parkinson’s disease can seem impossible. Trusts and estates attorney Eldridge…
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Basic Estate Tax Planning For Married Couples: Opportunities For Use Of Estate Tax Exemptions
June 23, 2023
A primary goal of most married couples when contemplating basic estate planning documents is to ensure that the surviving spouse, and commonly, the couple’s…
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Estate Planning With Limited Liability Companies: Transfers of Business Interests as a Planning Opportunity
May 19, 2023
Limited liability companies (“LLCs”) are used regularly in estate planning to achieve estate tax savings and to consolidate asset management. The first of these…
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Has Your Business Attorney Met Your Estate Planning Attorney?
April 28, 2023
Every business should have documentation that confirms its ownership, management, and governance structures. If the business has more than one owner, the documentation should…
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Experience Professionalism at Its Finest: Ward and Smith Sponsors 31st Annual Professional Seminar
April 24, 2023
Take advantage of the 31st Annual Professional Seminar, sponsored by Ward and Smith! This event, hosted by The Community Foundation of Western North Carolina,…
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“It Ain’t Over ‘Til It’s Over” – Use Of A Funded Revocable Trust In Estate Planning
March 3, 2023
Revocable trusts can simplify asset management during life and facilitate and make private asset transfers at death. You may think that your estate planning…
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Take a Bite Out of the Estate Tax: Estate Planning with Life Insurance
February 8, 2023
In the movie The Pink Panther Strikes Again, Inspector Clouseau asks a hotel clerk standing near a dog whether his dog bites. The clerk…
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Former Clerk of Superior Court Terri Sharp Joins Trusts and Estates Practice
February 8, 2023
Ward and Smith is pleased to announce the addition of Terri Sharp to its Trusts and Estates Team. She brings a distinguished background of…
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Whose Business is it Anyway? A Business Succession Case Study
February 3, 2023
Three Ward and Smith attorneys provided an overview of succession planning, estate planning, divorce, and the separation of assets. The seminar — A Business…
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Are Your Retirement Accounts SECURED? Action Steps for Plan Participants and IRA Owners
January 4, 2023
Passed by Congress in late 2019, the SECURE Act contained the most significant changes to qualified retirement plans (QRPs) and IRAs since the Pension…
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Ward and Smith Celebrated in 2023 Edition of Best Law Firms
November 3, 2022
Ward and Smith shines bright in the 2023 edition of “Best Law Firms.” U.S. News & World Report and Best Lawyers® released their annual rankings that recognize…
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Ward and Smith Welcomes Four New Attorneys
October 10, 2022
Ward and Smith is proud to welcome back four familiar faces. Alex Ferri, Dakota Lipscombe, Avery Locklear, and Zach Marks join the firm as…
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How an Estate Plan Can Protect Against Financial Exploitation
September 22, 2022
I suspect that many of you, like me, have deleted an email from a friend that says he is away on a trip and…
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7 Ward and Smith Attorneys Named to 2023 Best Lawyers: Ones to Watch
September 12, 2022
Best Lawyers® has selected seven Ward and Smith attorneys for inclusion in the 2023 edition of Best Lawyers: Ones to Watch. This honor recognizes some…
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Estate Planning Considerations That Apply to Nearly Everyone
July 29, 2022
Our attorneys field questions every day about the nuanced estate planning issues that arise due to a client’s unique circumstances, but there also are…
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Be Mindful of Income Tax in Estate Planning, Particularly Basis
July 22, 2022
Avoidance of estate taxes is one consideration in estate planning. Under current law, however, estate tax issues generally affect only the wealthiest 1% of…
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Zac Lamb Named Council Member of NCBA Estate Planning and Fiduciary Law Section
July 21, 2022
Trusts and estates attorney Zac Lamb will serve as a North Carolina Bar Association (NCBA) Estate Planning and Fiduciary Law Section council member. His…
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“Generation-Sharing” – Tax Planning That Benefits the Entire Family
July 15, 2022
Historically, only the very wealthy engaged in generation-skipping estate planning. Families and individuals who do not think of themselves as “very wealthy,” however, also…
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Joint Trusts: A Useful Tool for Some Married Couples
July 5, 2022
Though not a silver bullet for every situation, in appropriate circumstances, a Joint Revocable Living Trust (“Joint Trust”) can provide a married couple with…
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Making a Difference: Charitable Trust Planning
June 8, 2022
The past few years have exposed a lot of needs in our communities, and many of us feel even more compelled to give back…
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Mamas: Are Your Ducks in a Row?
May 11, 2022
To all my fellow Moms, Mommies, and Mamas: Hopefully, you were able to rack up some quality To-Do-List-Free time in honor of Mother’s Day. …
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Make Estate Planning a Point of Focus in 2022
March 11, 2022
Spring is nearly here, and for most people, this new season brings a sense of revival and motivation. Even if your 2022 New Year’s…
Firm News
Ward and Smith Welcomes Litigation and Trusts and Estates Attorneys
January 10, 2022
Ward and Smith is pleased to announce two new additions, Isabelle Chammas and Courtney Peters. Isabelle is a litigation attorney in the Wilmington office.…
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Ward and Smith Attorneys Named to 2022 Business North Carolina Legal Elite
January 4, 2022
Business North Carolina has selected several Ward and Smith attorneys for inclusion in its 2022 Legal Elite edition. The annual publication lists the state’s top lawyers…
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Media Mention: Greg Peacock Featured in Winter 2021 Edition of the NC State Bar Journal
December 16, 2021
The North Carolina State Bar Journal profiled attorney Greg Peacock in its Winter 2021 edition. The Q&A style format delved into Greg’s career as…
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Media Mention: Eldridge Dodson’s Insights on Estate Planning
November 12, 2021
Estate planning is critical to protecting and preserving your legacy. Oftentimes, though, an important consideration is greatly overlooked. Recently, the Greater Wilmington Business Journal published an…
Firm News
7 Ward and Smith Attorneys Recognized as “Ones to Watch” by Best Lawyers®
September 9, 2021
Best Lawyers® has named seven Ward and Smith attorneys as “Ones to Watch” in its 2022 edition of Best Lawyers in America®. This honor…
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Preventing Trust and Estate Disputes
August 13, 2021
The death of a loved one should be a time for a family to come together. As a trust and estate litigator, unfortunately, I…
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Greg Peacock Accepted to the Southeast Fellows Institute of the ACTEC
June 28, 2021
Trusts and estates attorney Greg Peacock has been accepted into the inaugural class of the Southeast Fellows Institute of the American College of Trust…
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Yours, Mine, and Ours: Estate Planning for Blended Families
April 14, 2021
According to recent statistics, four out of every ten families are blended families. As you might expect, estate planning for blended families is often…
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A Farewell to the Current Gift and Estate Tax Exemption?
March 29, 2021
We recently wrote about a window of opportunity to take advantage of the rising estate and gift tax exemption before it sets. It is becoming…
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The Exemption Also Rises (But Could Set Soon)
January 29, 2021
The amount that you can give to your children during life or leave to them after death estate tax-free currently is at a historically…
Firm News
Zac Lamb to Speak at Buncombe County Bar Estate Planning CLE
January 15, 2021
Attorney Zac Lamb will be a presenter at the Overview of Estate Planning, Elder Law, and Estate Administration CLE, hosted by the Buncombe County Bar. …
Firm News
13 Ward and Smith Attorneys Listed in Business North Carolina’s 2021 “Legal Elite”
January 6, 2021
Business North Carolina has recognized 13 Ward and Smith attorneys as 2021 “Legal Elites.” Of the thousands of lawyers practicing across the state, only…
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Flexibility in the Face of COVID-19: When Culture and Technology Align
January 4, 2021
We didn’t know what we would be asked to do during the pandemic, or how flexible we would all need to become to continue…
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Estate Planning Resolutions for 2021
December 29, 2020
The holiday season soon will have come and gone, and many of us will be glad to begin turning the page on the unprecedented…
Firm News
41 Ward and Smith Attorneys Named to “Best Lawyers in America®” for 2021
August 20, 2020
Ward and Smith is proud to announce that nearly half of the firm’s attorneys have been recognized by one of the most respected and trusted…
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Happy 18th Birthday! Your College-Aged Child is an Adult. Now What?
May 22, 2020
Believe it or not, as of your child’s 18th birthday, your child is an “adult” in the eyes of the law. Turning 18 years…
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Temporary Relief for NC Taxpayers Under New COVID-19 Legislation
May 6, 2020
Members of the North Carolina General Assembly made good use of their time leading up to the short session that began on April 28,…
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New NC Law Relaxes Requirements for Execution of Estate Planning Documents
May 5, 2020
Unusual times call for unusual measures. On May 4, 2020, the North Carolina General Assembly passed Session Law 2020-3 to relax the legal requirements…
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Turning Low Value Lemons Into Estate Planning Lemonade – Part I Gifting Opportunities
March 31, 2020
The novel coronavirus pandemic has had a dramatic impact on the U.S. economy. Investors have experienced record-setting fluctuations in marketable security values on U.S.…
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Update: Tax Filing Deadlines Moved to July 15 Amidst COVID-19 Pandemic
March 27, 2020
The IRS announced on Saturday, March 21, that it would move the U.S. income tax filing deadline for all taxpayers and businesses from April…
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Essential Documents: Preparing for COVID-19
March 26, 2020
In this unprecedented and uncertain time, health experts are providing us with the facts about COVID-19. Being well-informed enables us to know what measures…
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Estate Planning Resolutions for 2020
January 2, 2020
The holiday season has come and gone, and it’s hard to believe that we are on the brink of a new year and decade. …
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Lifetime Transfers of Family Business Interests: An Estate Tax Planning Opportunity in Uncertain Political Times
November 15, 2019
When a family business owner’s goal is to ultimately pass ownership of the business on to the next generation, business succession planning and the…
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Is it Time to Review Your Succession Plan Documentation?
September 13, 2019
Business succession and estate plans are made based on circumstances existing at the time they are put in place. Though skillful attorneys strive to…
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Top 10 Estate Planning Mistakes & How to Avoid Making Them
June 12, 2019
As estate planners, we have seen it all over the years. What we have learned is that people make some common mistakes. Whether due…
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Estate Planning Resolutions for 2019
December 20, 2018
The holiday season soon will have come and gone. For many of us, the start of a new year can be a time of…
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What Could Go Wrong? The Importance of Business Succession Planning
April 20, 2018
Most business owners expect that their company will continue to operate after they stop working. However, successfully transitioning control of a business rarely occurs…
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Tax Reform – What Does it Mean for You and Your Business?
January 2, 2018
Let’s face it—the Internal Revenue code (the “Code”) and the reams of regulations that implement the Code can be very complex. However, most individuals…
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Estate Planning Resolutions for 2018
December 29, 2017
Another holiday season will have come and gone before we know it. For many, the start of 2018 will be a time of empty…
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Do I Need An Estate Plan?
September 14, 2017
Do you care who will receive your assets upon your death? Do you have a minor child or children and want to have a…
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Asset Protection Planning: Steps You Should Consider Now
May 26, 2017
Is the federal estate tax law going to change or be abolished under the Trump administration? Time will tell. One thing is certain: tax…
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Succession Planning—Bet the Farm on It
May 12, 2017
Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 98%…
Firm News
Media Mention: John Sloan’s Insightful Discussion on Wealth Management
March 27, 2017
It’s always a great idea to have a back-up plan, even in uncertain times. And one way to secure your future, at least financially,…
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Estate Tax Reform Predicted for 2017
February 22, 2017
A key goal for those of us who practice with Ward and Smith is to inform our clients and future clients of potential developments…
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Estate Planning Resolutions for the New Year
December 20, 2016
For many of us, the start of a new year can be a time of empty commitment to self-improvement. Meaningful resolutions are infrequently made…
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The End of Family Business Valuation Discounts?
September 1, 2016
Proposed Treasury Regulations Prompt Immediate Action The Threat to Planning with Family Business Interests: Recently proposed regulations threaten a powerful planning technique – the…
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How Non-Probate Assets Can Affect Your Estate Plan: A Few Cautionary Tales
June 1, 2016
When you think about the control of your possessions and assets after your death, you probably think of a Will and probate. A Will…
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Choosing Wisely – Selecting a Trustee
May 12, 2016
Many people use a revocable trust as part of their estate plan because of its probate avoidance and privacy benefits after death. In addition,…
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The Aftermath of Obergefell: Unsettled Times for Tenancy by the Entirety
March 31, 2016
Regardless of your politics, your religious beliefs, which side of the social divide you’re on, or how you feel about it, one thing is…
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The IRA Trust: The Reese’s Cup® of IRA Beneficiary Planning
January 21, 2016
Two primary goals for designating a beneficiary of an Individual Retirement Account Trust (“IRA Trust”) are (a) minimizing income tax and (b) preventing creditors…
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What In The World Is A “Gun Trust” And Why Might I Want One?
October 14, 2014
For avid hunters and gun enthusiasts, federal and state regulation of gun ownership can be burdensome and frustrating. Use of a gun trust could…
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Dust Off Your Existing Trusts
July 9, 2014
Rising federal estate tax exemptions are providing you an opportunity to reconsider your existing trusts to determine whether a trust termination may provide an…
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Gamechanger – Your Spouse’s Entitlement to Your Estate
May 16, 2014
The Marital Elective Share When a married person dies, North Carolina and many other states provide the surviving spouse with an elective share of…
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Use of Family Limited Liability Companies in Estate Planning
March 19, 2014
A family limited liability company can address several common estate planning challenges by providing centralized management of family assets, facilitating gifts, achieving asset protection,…
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Does Your Estate Tax Planning Still Make Sense?
December 18, 2013
The purpose of estate tax planning is to reduce the taxes on your estate so that you can leave more of your assets to…
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I Am Not A Fiduciary, So Why Am I Being Held Liable As One?
December 2, 2013
In North Carolina, it is well settled that fiduciaries have certain duties and can be held liable for breaching those duties. What is less…
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Top Ten “Non-Tax” Estate Planning Recommendations
January 2, 2013
Despite the uncertainty about the future of the gift and estate tax laws, meaningful estate planning goals can be achieved by paying careful attention…
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Proposed Changes to Tax Laws May Reshape Estate Planning Landscape
June 6, 2012
President Obama’s desired modifications to federal wealth transfer tax laws may limit your future estate planning, but you still have many tax saving opportunities…
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Plan Now To Use Historic Gift Tax Exemption Before Year-End
May 4, 2012
2012 may present the last opportunity to take advantage of the historically high lifetime gift tax exemption. In 2012, an individual can give up…
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Your Federal Estate and Gift Tax Exemption – Use it or Lose it?
January 18, 2012
All individual taxpayers have a window of opportunity for passing their assets to family members or other individuals with less gift tax than ever…
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Planning for the Estate Tax — Is “Portability” All You Need? Maybe Not!
October 4, 2011
Over the last few years, the federal estate tax exemption amount has been all over the map, making the prospect of estate planning daunting…
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Planning for Long-term Care: The Ten Most Common Mistakes
August 1, 2011
The need for long-term care is on the mind of all seniors. Many are concerned that such care will drain their finances. Those with…
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Use of Limited Liability Companies in Estate Planning
April 21, 2011
Limited liability companies (“LLCs”) and limited partnerships (“LPs”) frequently are used to accomplish two important estate planning objectives. First, these entities facilitate gifts by…
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The New Federal Estate and Gift Tax Rules: Do I Really Need an Estate Plan Anymore?
April 7, 2011
Recent legislation significantly changed the federal transfer tax rules (which govern the taxation of gifts and estates). In light of these changes, many have…
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Estate Planning Through Premarital Agreements
March 8, 2011
Planning for the end of a marriage before the marriage vows are exchanged can be disconcerting. However, with divorce rates topping 50% nationwide, the…
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Planning for Long-Term Care
February 15, 2011
The percentage of Americans over 65 has more than tripled since 1900, and all indications are that the most rapid increase is yet to…
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Estate Planning in the New Year
January 5, 2011
Special Bulletin Prior to year-end 2010, President Obama signed into law “The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (“Act”). …
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Estate Planning Techniques: The Qualified Personal Residence Trust
January 4, 2011
The qualified personal residence trust (“QPRT”) is a unique estate planning tool that provides an opportunity for parents to transfer future ownership of real…
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Silver Lining to the Economic Dark Cloud – Estate Planning Opportunities in a Down Market
December 22, 2010
Changing tax laws, political uncertainty, and the whole family at Thanksgiving can take us on a roller coaster ride of ups and downs. But…
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International Estate Planning: What to do When Your Estate Crosses the Border
December 16, 2010
The term “international estate planning” may conjure up images of offshore trusts in the Cayman Islands or numbered bank accounts in Switzerland, but multi-national…
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Anatomical Gifts and Funeral Planning
December 15, 2010
Anatomical Gifts This paper covers House Bill 13721 from a planning perspective. It does not address all aspects of anatomical gifts. Representative Dale Folwell,…
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Estate Planning: A Primer
December 14, 2010
Who Needs A Will? Do you have any minor children or step-children? Do you care where your assets go at your death? Are you…
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Healthy Profits, Sick Marriage: Estate Planning for the Separated Business Owner
December 6, 2010
A business owner who is going through a marital separation understandably focuses on the property valuation and division issues inherent in separation and divorce.…
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Don’t Bury Your Head In The Sand – Estate Planning For The Beach House
December 2, 2010
The recent explosion of beach real estate prices has enhanced significantly and unexpectedly the wealth of many North Carolina residents. Individuals who once considered…
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Advanced Estate Planning Techniques
November 10, 2010
The following is a brief summary of estate planning techniques that may be used to transfer wealth to younger generations while minimizing estate and…
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“Not in My Family”: Will Disputes in North Carolina: Caveats, Testamentary Capacity, and Other Phrases You Should Know
October 20, 2010
Almost everyone recognizes the importance of having properly prepared will and estate documents. Among other things, they ensure that your property and assets are…
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Business Succession Planning
October 4, 2010
Most closely held business owners and key executives are too busy dealing with the day-to-day demands of their business operations to focus on the…
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Asset Protection Planning: Where Sooner Really is Better Than Later!
August 16, 2010
What is Asset Protection? In today’s litigious society, protecting assets from creditors and potential creditors has become a hot topic. Commonly filed lawsuits involve…
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Here Today, Gone Tomorrow: The Repeal and Reinstatement of the Federal Estate and Generation Skipping Transfer Taxes
January 26, 2010
Absent some eleventh hour action in Washington, D.C., the federal estate and generation-skipping transfer (“GST”) taxes will be repealed in 2010. The repeal is…
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Now’s the Time to Gift: Strategies to Make the Most of the Current Financial Situation
October 14, 2009
Gift Tax Structure Under current law, you, as an individual, may make “annual exclusion gifts” without gift tax consequences. The annual exclusion amount has…
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Trust Administration in a Down Market: The Terms of Your Irrevocable Trust May Not Be As Irrevocable As You Think
April 15, 2009
A trust is created when a person (the “Settlor”) transfers property, such as money, real estate, or stock, to another individual or entity (the…
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Are the Terms of Your Trust Still Trustworthy? Opportunities for Trust Modification in a Down Market
March 25, 2009
Have you ever looked back on a decision that you made and thought, “I wish I had … ” The complexities and uncertainties of…
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Protecting Your Assets in Tough Economic Times
January 20, 2009
Protecting your assets from potential creditors always should be a major planning consideration. In tough economic times, however, asset protection becomes an even more…
