What is an estate plan?

An estate plan is a set of legal documents and instructions that someone creates in order to manage their assets and plan for the distribution of their estate after they die. It typically includes a will, a trust, and other documents, such as powers of attorney. Having an estate plan in place allows someone to control how their assets will be distributed to their heirs, as well as to control who will be in charge of administering their estate. In North Carolina, an estate plan is not just for those who are wealthy or have a lot of assets, as everyone should have some sort of plan in place to make sure their wishes are carried out after they are gone. An estate plan also has many other benefits, such as providing tax benefits, protecting assets from creditors, and even protecting someone’s privacy. An estate plan can be created with the help of an attorney who specializes in trusts and estates law, as they are able to provide much needed guidance and expertise in creating an effective plan.

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