Get Experienced Long-Term Planning Help Today

Estate planning requires wide-ranging legal judgment combined with depth of experience. At the law firm of Deal Moseley di Santi Garrett & Martin, LLP, we draw on those exact attributes. As a result, we can help you make decisions today that will protect your rights and ensure that your wishes are carried out for you and your family.

Deep Roots In The Community

We understand how people throughout the Boone, North Carolina, area think when it comes to estate planning matters. Since 1974, our firm has helped clients position their families for success through effective estate planning.

By drawing on more than 100 years of combined experience, we make it possible for you to plan effectively even in sophisticated estate planning matters. Many of our estate planning cases address those matters involving unusual assets, complicated family matters and complex legal principles.

Our firm’s estate planning team can assist you with a wide variety of concerns, including:

• Wills and trusts
• Powers of attorney
• Probate
• Charitable giving
• Planned giving
• Business succession planning

Our lawyers bring particular value when it comes to charitable giving and planned giving involving institutions. One of our firm’s partners is a former university trustee and a former member of the board of governors for the university system. We know how these matters work and can provide you with the benefit of the insights we have gained over the years.

Frequently Asked Questions About Estate Planning In North Carolina

Here are some questions we frequently receive from our clients:

How can I protect my assets for myself and my children?

Asset protection in North Carolina involves several legal tools that work together to safeguard your wealth:

• Revocable living trust: Allows you to maintain control of your assets during your lifetime while ensuring they transfer directly to your beneficiaries without going through probate. This approach can keep your financial matters private and reduce costs for your family.
• Irrevocable trust: Removes assets from your taxable estate while providing income during your lifetime, offering additional protection from creditors and estate taxes.
• Homestead exemption: North Carolina law protects your primary residence from certain creditors, up to $35,000 for individuals or $70,000 for married couples filing jointly.
• Business structures: Limited liability companies (LLCs) or family limited partnerships can shield personal assets from business liabilities while offering tax advantages when transferring wealth to children.

Beyond all these, it is wise to regularly review your will, update your power of attorney documents and consider liability protections if you own a business or rental property. But most importantly, each decision depends on your specific situation, including family dynamics, debts and property types.

How do I set up guardianships for my children, should it become necessary?

In North Carolina, you can name a guardian for your minor children directly in your will. This helps ensure the court has clarity on whom you trust to care for your children if something happens to you. If no guardian is named, the court will decide based on what it believes is in the child’s best interests, without the benefit of your input. It is also worth appointing a trustee or custodian to manage any funds left to your children so that the same person does not necessarily control both their care and finances. Clear documentation helps avoid confusion and family conflict.

What tax considerations should I keep in mind?

While North Carolina does not impose a state estate tax or inheritance tax, the federal estate tax might apply if your estate exceeds the federal exemption limit, which is subject to change. Gift strategies, charitable donations and asset placements into trusts can reduce potential tax burdens. It is also important to know that retirement accounts such as IRAs and 401(k)s have required minimum distributions (RMDs) and potential tax consequences for heirs.

Contact Us Today To Schedule Your Free Initial Consultation

To learn more about how our firm can help you meet your legal needs, schedule a free initial consultation with our office. You can contact us by phone at 828-263-4721. You can also reach us online to make your appointment.