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Estate Planning

Thursday, October 29, 2020

How Testamentary Capacity Is Determined


Testamentary capacity is essential to making a valid will. In fact, testamentary capacity refers to the mental capability of a person to establish a formal will. For a person drafting a will, referred to as the “testator,” having testamentary capacity is a requirement for the will to be recognized as valid.
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Thursday, October 22, 2020

When Should You Revisit Your Estate Plan?


Having an estate plan in place means that you have taken a valuable step towards protecting a future you want for you and your family. In order for an estate plan to be most effective, however, it needs to remain updated so that it always falls in line with your most current wishes. This means that you should take time to revisit your estate plan, especially after major life events, in order to make sure that it still reflects what you want for you and your loved ones.
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Sunday, September 27, 2020

Health Care Documents You Should Have in Place for Your College-Age Kid


Life in the times of the COVID-19 pandemic sometimes seems dominated by fear and anxiety. The potential of life-threatening illness looms in the air and many people feel lost as to what they can do to regain some sort of control over this new life. This can be especially true for parents that are sending their college-aids kids off to school. While campuses have made major efforts to put protections in place geared towards keeping staff and students as safe and healthy as possible, there is still that fear of what could be. One way to help find some peace of mind and regain a sense of control is to evaluate what legal tools you have in place to protect your college kid should some kind of health crisis befall them.
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Monday, August 24, 2020

Why You Can Never Be Too Young to Estate Plan


When you hear people talking about estate planning, you may associate it with your parents or your grandparents. You may think about it as something that wealthy individuals do to protect their assets and figure out where their money will go after they die. Estate planning is about so much more though.
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Monday, July 27, 2020

What Happens If There Is No Named Executor of an Estate?


A personal representative, otherwise referred to as an “executor” or “administrator,” of an estate plays a vital role during the probate process. This individual carries the responsibility of administering and distributing the decedent’s estate. Oftentimes, the personal representative is named in the decedent’s will. Other times, there is no named personal representative of the estate. When this happens, who is responsible for Read more . . .


Thursday, July 23, 2020

How Long Does an Executor Have to Settle an Estate in North Carolina?


The executor plays a crucial role in the probate of a decedent’s estate. As executor, the person assuming this position must manage the estate of the decedent throughout the probate process. The executor must inventory and manage property of the estate.
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Tuesday, May 26, 2020

Why You Should Consider Incorporating 529 Plans Into Your Estate Plan


When properly crafted, an estate plan has so much more to offer than simply a way to distribute assets to your family and loved ones. There is an extensive range of estate planning tools that are often overlooked, but can provide many benefits to those who choose to access them. For instance, a 529 Savings Plan may not be something you would consider as an estate planning tool, but it certainly can be. A 529 plan is named for the Internal Revenue Code section that authorizes them. It is a tax-advantaged investment vehicle that allows for tax-sheltered growth.
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Thursday, April 23, 2020

What Are the Responsibilities of an Executor?


Estate planning is something everyone should do as soon as possible. It is an important process that puts critical legal tools in place to protect you and your loved ones. There will be many difficult decisions you will have to make during the estate planning process.
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Friday, April 17, 2020

How Can I Include Charitable Giving in My Estate Plan?


Many people have charitable causes about which they are passionate. When estate planning, you may wish to consider planned charitable giving which will allow you to support your charitable interests. There are several ways to include charitable giving.


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Monday, March 23, 2020

Why You Are Never Too Young to Estate Plan


Estate planning involves putting important tools and legal protections in place related to your end of life wishes as well as others associated with ensuring your healthcare decisions are respected and your financial well being is protected. This does not mean that estate planning is only for those individuals who are older or who may be in poor health. Estate planning is important for everyone regardless of age or health status.
Read more . . .


Monday, January 20, 2020

What Is a QTIP Trust?


There are many different trust types available to use when estate planning. Each different type of trust serves a different purpose and has its own benefits. The value that you may find in the proper implementation of the right kind of trust to serve your own purposes can be substantial. This is part of the reason why it is so important to begin Read more . . .


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Monk Law Firm, PLLC assists clients throughout Charlotte, Rock Hill, Fort Mill and the surrounding areas.



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| Phone: 803-594-4453
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