Estate Planning and Administration
El inglés es el idioma de control de esta página. En la medida en que haya algún conflicto entre la traducción al inglés y la traducción, el inglés prevalece.
Al hacer clic en el enlace de traducción se activa un servicio de traducción gratuito para convertir la página al español. Al igual que con cualquier traducción por Internet, la conversión no es sensible al contexto y puede que no traduzca el texto en su significado original. NC State Extension no garantiza la exactitud del texto traducido. Por favor, tenga en cuenta que algunas aplicaciones y/o servicios pueden no funcionar como se espera cuando se traducen.
English is the controlling language of this page. To the extent there is any conflict between the English text and the translation, English controls.
Clicking on the translation link activates a free translation service to convert the page to Spanish. As with any Internet translation, the conversion is not context-sensitive and may not translate the text to its original meaning. NC State Extension does not guarantee the accuracy of the translated text. Please note that some applications and/or services may not function as expected when translated.Collapse ▲
Estate Planning – as the term is used in the context of farm succession – describes the suite of documents drafted, reviewed, and executed that plan for the disposition of assets (heirlooms, farmland, business interests, etc.) while alive by gift and at death by will or trust. The term also concerns plans for ensuring clear instructions for disposition of remains and other wishes to be carried out by descendants and others. Also included are matters of emergency and elder care planning.
Present Use Value: Maintaining the Individual Ownership Requirement in Farm and Forestland Succession Planning. This narrative discusses in detail the concept of “individual ownership” as required by statute for enrollment of a parcel of land in NC’s present use value differential property tax scheme.
Estate Settlement: Property Rights of Surviving Spouse. This paper discusses the rights of surviving spouses to property owned jointly and otherwise during their marriage, including valuation of share, elective share, life estate election, and summary estate administration. Keywords: elective share, joint property, marital property, life estate, total net assets, summary administration, year’s allowance
Wills: A Look at Handwritten (Holographic) Wills. This short piece – written in the early days of the pandemic – reviews the legal requirements for writing a will in your own hand.
Life Estates: Devised Interest in Timber. This piece reviews a recent case concerning an effort to devise rights in timber by will.
Care Planning: Locating and Registering Health Care Powers of Attorney. This short piece reviews the process for executing and registering a health care power of attorney.
Wills: North Carolina Court Reviews Per Stirpes Intent. This case review takes a look at a North Carolina Court of Appeals interpretation of critical language used in a will to dispose of assets across two generations of lineal descendants.
Land Title: An Overview of Titling of Real Property. This short narrative reviews the basics of real property ownership, a critical understanding when planning disposition of or investment in use of property.
About the Estate Tax (2022) This short presentation provides a snapshot of current law on estate and gift tax with a bit of historical perspective, a snapshot of impact on the ‘average farm,’ and a few slides on estate planning tools and property disposition.
Estate Planning and Wealth Transfer Principles. This presentation is delivered in numerous counties live and online, coving issues of estate planning with an emphasis on gifting, use of wills and trusts, and limited liability companies to transfer farm and forest assets.
Timberland Transfer and Liability. This presentation is delivered to various forestry groups across North Carolina. Addresses estate planning, present use value, and trespass liability (including timber trespass)
Content loaded to Agricultural and Natural Resource Law portal, including narratives, workbooks and presentations, is supported by The North Carolina Tobacco Trust Fund Commission (TTFC) (Grant award 2019-001-16), titled “An Heirs Guide to Farmland”).