Wills

Why do I need a Will?

If you don't have a will, upon your death, your personal property and real estate will pass in accordance with North Carolina's Intestacy laws. If you are married, under current statutes, all estate property would be divided between your spouse and your children. If you are not married, your estate property would pass to your children, of if you have no children, to your parents or siblings. In order to control who receives your property, and, in some cases, how that property is to be used, you need to execute a Will. The process is relatively simple and in most cases, can be completed within two visits -- with no more time involved than that of a couple of lunch hours.

Will all of my property pass in accordance with the terms of my Will?

No, in many cases, third-party agreements will control the disposition of your property upon your death. Any proceeds paid pursuant to a contract -- such as life insurance, pension fund, or IRA plan -- upon which you have listed a beneficiary, will pass to that designated beneficiary upon your death. In addition, any real property owned as husband and wife will automatically become the property of the surviving spouse, notwithstanding the provisions of the Will.

What if I have minor children?

It is certainly wise to have a Will if you have children under the age of 18. You would want to appoint a guardian for the children who would raise them in the absence of you and your spouse. In addition, you may want to specify how proceeds or property from your estate is to benefit the child. This is most often done by means of a Trust, which designates a Trustee to care for the funds or property in the Trust for the benefit of the minor child. Through a Trust, you can control when and how money is to be disbursed to or for the child. A Trust can be as simple or as complicated as you would like to make it. Upon consultation with your attorney, you can determine exactly what type of arrangements you would like to make to ensure the financial well-being and future education of your child.

What if I am recently separated, divorced, or widowed?

Legal separation will have no effect upon the disposition of your property, whether by Will or in accordance with North Carolina laws, unless you have made alternate provisions in a legal Separation Agreement. Once legally divorced, in most cases, North Carolina law will treat the ex-spouse as having pre-deceased you, as the law assumes that you no longer wish your property to pass to your ex-husband or ex-wife. In order to ensure that your real and personal property will go to your intended beneficiaries, Wills and other estate documents should be either created or re-evaluated upon either separation, divorce, or upon the death of a spouse or child.

What is a Power of Attorney and should I have one?

A durable Power of Attorney is a document that enables a designated individual to legally act in your stead and on your behalf if you are physically incapable of making your wishes known or if you become mentally incapacitated. Without having specified who you would like to take control of your legal, financial, and personal decisions in the event that you were unable to do so, the Court system will instead appoint a person to handle such matters for you and authorize payment from your Estate for such services.

What is a Living Will?

A Living Will is a document wherein you state your wishes concerning life-sustaining measures in the event that you are unable to make such decisions and you are found to be terminally ill or in a persistent vegetative state. A living will can save your family the agony of making life and death decisions for you in what is usually a time of extreme emotional turmoil.

What is a Health Care Power of Attorney?

A Health Care Power of Attorney is a specialized form of a Power of Attorney which grants a designated person authority to make health care decisions for you, including decisions regarding surgical procedures or the necessity of placing you in a nursing care facility if you are unable to make such decisions or unable to communicate your wishes. The Health Care Power of Attorney does not become effective until your designated or attending physician makes the determination that you lack sufficient understanding, capacity or ability to make important decisions regarding your own health care.

What is the cost of making a Will or obtaining a Power of Attorney or Living Will?

The initial consultation with your attorney is free. Upon consultation, an arrangement may be made concerning the fee for such services. In most cases the fee will be based upon the following schedule:

• Simple Will - $200.00
• Will with Simple Trust - $300.00
• Power of Attorney - $100.00
• Living Will - $100.00
• Health Care Power of Attorney - $100.00
• Family Planning Package* - $600.00

How do I make an appointment for my free 30-minute consultation?

Please call Attorney Tina Frazier Pace with Hatch, Little & Bunn, LLP at (919) 856-3940 or you may e-mail her at tfpace@hatchlittlebunn.com to set up an appointment.

*Package is for Husband and Wife and includes Will with Simple Trust for Husband and Wife, as well as mutual Powers of Attorney and Living Wills.

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