Lincolnton Wills & Trusts Lawyer

Lincolnton Wills & Trusts Attorney

The process of determining what will happen to your property and possessions once you are gone can be overwhelming and daunting to navigate. Whether you have many family members wanting to help or you’re planning alone, it can be beneficial to have an outside party walk alongside you during this time. Our experienced Lincolnton wills & trusts lawyer can help you assemble, review, or finalize a will or trust today.

Understanding the Difference Between Wills and Trusts in North Carolina

While many people use the terms “will” and “trust” interchangeably, they are both different types of estate plans used in Lincoln County. Whether a will or trust is better for you depends entirely on your estate and your wishes. When it comes to determining whether you want to use a will or a trust, it can be helpful to understand the basics of both and then consult a lawyer.

A will, in the most simple terms, is a document that outlines how a person wants their assets to be distributed once they are deceased. A will also details an executor, who is the person responsible for distributing said assets when the time comes. One important note about wills is that they must go through probate before the assets can be distributed.

A trust is a legal arrangement where someone you choose manages the assets you designate to a beneficiary. This person is known as the trustee. They are responsible for distributing these assets to the beneficiary. One important aspect of a trust is that it can go into effect while you are still alive if you have already signed it.

Who Can Make a Will in North Carolina?

The requirements for making a will that will be legally recognized in North Carolina are not very complicated. Almost anyone is able to make a will in this state. The two main requirements include:

• You must be eighteen years of age.
• You must be in your right mind.

If these two statements are true, you may make a will. Generally, a will is in the form of a hard copy and cannot be in digital form, such as a video, audio file, or other digitally crafted item. Wills are typically typed and printed. In order for your will to be legally recognized, you must sign it in the presence of two other witnesses who also sign the will to confirm its validity. Because you must have witnesses, you are not required to have your will notarized.

In some cases, a person is injured or falls sick before they have the chance to make a written will. In cases such as these, it may be possible to leave an oral will if it is spoken in the presence of two witnesses. While a verbal will may not be as poignant as a written one, it can still have the power to distribute your property according to your wishes. You should discuss with an attorney whether an oral will may be valid in your current situation.

What Happens If You Pass Away Without a Will?

There is a typical mode of conduct that the state of North Carolina follows for individuals who die without leaving a will or trust. Your assets and property will be distributed by the state to the relative(s) who are closest to you. For example, a married person who leaves behind a surviving spouse can expect for all of their assets to go to their spouse. Assets may also be given to children if they are present. This is known as intestate succession.

In cases in which a deceased person leaves behind absolutely no relatives, the state will typically assume the assets and property in Lincolnton, NC.

FAQs About Lincolnton Wills & Trusts Laws

How Much Does a Lawyer Charge to Draft a Will in North Carolina?

The amount of money a lawyer charges for drafting a will in North Carolina depends on the lawyer, their personal rates, their methods of charging, and the services that their client requests. For example, some lawyers charge by the hour while others work on a fixed fee basis. You should always discuss pricing with your lawyer before you hire them.

What Type of Lawyer Is Ideal for Creating a Will?

When looking for a lawyer to help you create a will, you want to find someone who has experience with similar cases. Realistically, the strongest lawyer you can find for your situation is a wills and trusts attorney who is specific to your county. A wills and trusts lawyer has experience creating, drafting, modifying, and finalizing wills and trusts in North Carolina. An estate planning lawyer should also carry the same experience.

Do I Need a Lawyer to Create a Will in North Carolina?

You are not legally required to have a lawyer to create a will in North Carolina. A will can be as simple or as complicated as you wish to make it. In cases where your wishes may be more complicated to explain and flesh out, you may find that it is helpful to have someone with legal experience by your side. However, you can involve them in as much or as little of the process as you’d like. Generally, it’s smart to draft your will with a lawyer to ensure everything is valid.

Is a Trust Better Than a Will in North Carolina?

There is no way of determining whether a trust is objectively better than a will. Each option will benefit different individuals in different ways. What may be right for you may not be right for someone else. Understanding the complexity of how you want to distribute your assets, the number of individuals you want to include in your will or trust, and other unique factors can help you determine if a will or a trust is a better fit for you.

Your Lincolnton Wills and Trusts Lawyer

If you’re creating a will or trust, it’s essential that you have a knowledgeable Lincolnton attorney on your side. At The Schweppe Law Firm, P.A., our team has helped countless residents of Lincoln County create estate plans that help them feel comfortable and confident. Reach out today to learn more about how we can be of assistance.