NC and SC Estate Planning and Elder Law Firm

Sinatra crooned that love and marriage go together like a horse and carriage, but Old Blue Eyes might be singing a different tune if he were alive today. Many couples do indeed have one without the other, particularly if their current love is not their first. Couples in such a relationship may not want to formalize their relationship in a public ceremony, but they should consider talking with an estate planning attorney to make sure their end of life wishes are not ignored because they chose not to tie the knot.
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Having a vacation home on the beach or in the mountains is the goal of many Carolina families, but keeping that property in the family for the next generation to enjoy can be a challenge without proper planning. Below are a few tips for families that want to pass a vacation home on to the next generation without too many headaches or heartaches.

Treat the Property Like A Business

If a property is being passed on to a group of people, it should basically be treated like a business.
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If you have been active on social media lately you have probably seen someone raising money for a good cause via an online platform like GoFu

If you have been active on social media lately you have probably seen someone raising money for a good cause via an online platform like GoFundMe. These crowdfunding campaigns take the concept of the coffee can on the gas station counter and bring it into the 21^st century.

But do-gooders are not the only ones who are looking for funding online. Businesses have been eager to get into the crowdfunding game as well. One need only take a quick look at Kickstarter or other similar sites to see how popular the concept has gotten.

Fluffy, Fido, and Polly are more than just pets. They are family members. But unless you make special plans for them, they will be treated no differently than a piece of furniture when you die.

A lot of people assume that their family members will step up and do the right thing for a beloved pet, but we have seen many heartbreaking things happen to pets who outlive their owners.

Sometimes nobody in the family wants, or is able to, take a new pet into their home.
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One goal of estate planning is to provide for our loved ones when we are no longer around. At times, however, some beneficiaries may irresponsible or have other issues that could lead them to squander an inheritance. In these situations, it is possible to leave assets to a troubled heir by creating a spendthrift trust. In short, the objective is to limit a beneficiary's access to trust property in order to protect it from him or herself, or creditors.

The trust is set up so that assets or funds are not provided directly to the beneficiary.
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The Department of Veterans Affairs operates several programs that provide financial, medical, and other forms of assistance to veterans. At the federal level, there are four major benefit programs:

• Disability compensation

• Free or low-cost medical care

• Education programs

Pension programsMany other types of veterans’ benefits are available as well, including special benefits regarding home financing, job training, PTSD support, small business loans, counseling, life insurance, and burial and memorial services. Benefits for survivors are also often available.
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Although they are not as popular as they were a few years ago, long-term care insurance plans are still being sold to many 50 and 60-somethings worried about how they will pay for in-home care or a nursing home stay. Before buying a long-term care plan, or making changes to an existing plan, there are a few things to look out for.

In theory, long-term care plans are great. Hiring an in-home nurse or moving into an assisted living facility can cost upwards of $90,000 per year. A lot of people are not able to afford this sort of care without government assistance.
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Although one of the attorneys in our office is a Duke alum who never cheers for the Tar Heels, it was still exciting to see North Carolina win the men’s NCAA tournament last month. And it was even more thrilling to see South Carolina win their first ever women’s title. The Carolinas are home to some really fine ball players, and we can all be proud of how the student athletes represented us.

They play so well, and are so poised during interviews, that it is easy to forget that the players in the March Madness tournament are students. (Some students are arguing that this is evidence that they are virtually professionals and should be paid like it, but that is a topic for another day.

When the ball dropped on New Year’s Eve we hope you were having a good time, and not thinking about your power of attorney documents. But we have a confession to make. We were thinking about power of attorney documents. Weird yes, but not totally bizarre. You see, South Carolina adopted a new law governing power of attorney documents in 2016, and it went into effect on January 1, 2017.
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Earlier this month the popular tech company Snap, owner of the hot app Snapchat, went public. It is just the latest example of a tech start-up that grew phenomenally by bucking the trends and cutting its own path, but that ultimately decided to take a more traditional route to fully capitalize on its success.

The crazy thing about Snap, is that its main product, Snapchat, is notoriously difficult for anyone over 30 to understand. Yet its IPO was a resounding success. Some reports suggest that the company’s devoted, young fan base may be the reason why.

Sorting out a loved one’s estate can be overwhelming. There funeral expenses to take care of right away, and other bills soon start to pile up. And there are lots of non-monetary things to take care of as well, including grieving.
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