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Wills & Estate Planning Attorney Services
We’re Here To Help You
When it comes to protecting yourself, your family, and your financial future, you can have confidence in the Cotton Law Firm. From wills to estate planning we strive, to deliver reliable representation every step of the way. Contact our Fayetteville, Lumberton, Durham, or Rocky Mount offices today to learn more about how we can help serve you.
Are you seeking guidance regarding a matter related to wills & estate planning?
-Jeff P.
Wills & Estate Planning
If you’re ready to draft a will, it’s imperative to have a trustworthy, knowledgeable estate planning lawyer by your side. Our firm will establish and document your final wishes and safeguard your estate. During the complex process, we’ll provide guidance, security, and peace of mind; ensuring your requests are communicated and completed specifically as you wish.
Do I even need a will?
Yes. A will allows you to direct how you want your real and personal property to be distributed upon your death. Without a will, your property will be distributed according to state statutes.
Can't I just get a form on the internet?
You could, but you may not have met the specific Will requirements of NC by doing so. Also, language in those documents could be ambiguous and your wishes may end up not being carried out as you wanted.
Who should I name as my executor in my will?
You should name someone you trust absolutely who understands what your wishes are and will follow those instructions.
Where should I keep my executed will?
The will should be kept somewhere safely such as a safe deposit box where it is accessible when necessary but not where it can be easily destroyed or stolen.
What about healthcare power of attorneys, living wills, and general power of attorneys? Do I need those?
In order to have a comprehensive plan, it is best to have all these documents prepared in advance so your wishes are documented in writing in the event you become incapacitated.
Revocable Living Trust
Living trusts allow individuals to manage and distribute their assets according to their wishes while retaining the flexibility to modify or dissolve the trust as needed. If you’re considering a living trust for your estate plan, consulting experienced attorneys can help you determine its potential benefits. Our experts can assist you with planning the transfer of their assets while ensuring your wishes are taken into consideration.
What are the benefits of a revocable living trust?
A revocable trust can help you avoid probate, maintain privacy regarding your asset distributions, and can be adjusted or revoked as life circumstances change, which provides flexibility and simplifies the transfer of assets.
Can I be the trustee of my revocable living trust?
Yes. You can serve as the trustee, which will allow you to retain control over the assets in the trust while you are alive. However, you should consider naming a successor trustee who can take over if you are no longer able to manage the trust or pass away.
How do I fund my revocable living trust?
You retain control of your assets and can move them in and out of the trust. You must transfer ownership of your assets, such as real estate, bank accounts, and investments, into the trust by changing the titles and beneficiary designations.
What happens to the trust after my death?
The successor trustee you designated will take over the trust and distribute the assets according to your instructions without going through probate.
Can I change or revoke my trust after it’s created?
Yes. A primary feature of a revocable trust is that it can be changed or revoked at any time by the person who created it, as long as they are alive and have sound mental capacities.