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Do I Need a Living Trust – Part 2

In last week’s blog we discussed what a living trust and addressed some of the most common claims made about living trusts.  This week we will take a closer look at some other issues that should be considered in deciding whether a living trust is right for you. 1.  Creditor Protection A Living Trust Can […]

What is a Living Trust and Do I Need One?

What is a living trust? A living trust, sometimes called a “revocable trust” or “revocable living trust,” is a trust created while you are alive and is operative while you are alive as well as after your death.  During your lifetime you retain the right to revoke the trust, change its terms, or regain possession […]

Designation of Client’s Living Trust as Beneficiary of Life Insurance Policy Forfeits Exemption

In North Carolina a creditor cannot reach the cash value or death benefit of a debtor’s life insurance policy on his or her own life provided the debtor’s spouse, children, or both are the beneficiaries of the policy. This right is guaranteed under Article X, Section 5 of the North Carolina Constitution and is also […]