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Cost-Effective and Expedient Transfer of Wealth at Death

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Dying can be a costly and time consuming exercise, particularly if there is no plan in place.

  • Creditors, financial institutions, and other interested parties must be notified;
  • Funeral and burial arrangements must be carried out;
  • Debts must be addressed; taxes must be paid; tangible and intangible assets must be protected and eventually transferred to beneficiaries; and
  • Your overall wishes must be carried out.

For example, if it is determined that substantially all of your assets would be subject to lengthy and costly probate proceedings at death, we may recommend utilizing various “trusts” and other planning techniques to eliminate the need for probate court intervention at death.  In addition, we will typically assist you in devising plans empowering your trusted family members to seamlessly retain control of and continue the operation of unique assets — like businesses or even “legacy property” (like the family cabin).

Understanding just what needs to be done for a particular client requires experience and knowledge of the various tools and techniques available.  Equally important is a complete understanding of your particular needs.  Ms. de Ondarza Simmons will personally meet with you and discuss the options that best suit your particular needs.  Each client is different and there is no single technique that fits everyone.

Tax laws have changed.  Do you have a will or Estate plan that needs updating?  We will review your plan for free and advise you of changes that may or may not be needed or desired.

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PLANNING FOR DEATH TAXES

Whether there will be any federal estate tax to pay depends on the size of your estate and how your estate plan works.  North Carolina also has its own separate estate tax regime that you need to be aware of and plan for.  There are many well-established strategies that can be implemented to reduce or eliminate death taxes, but you must start the planning process early in order to implement many of these plans.

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de Ondarza Simmons, PLLC is committed to answering your questions about Business Law, Real Estate Litigation, Estate Planning Local Counsel, and Personal Injury law issues in North Carolina.

We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.

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