How to Set Up an LLC in North Carolina

Setting up an LLC in North Carolina

 

Getting ready to start a business? Congratulations! In the state of North Carolina, starting an LLC is an affordable option for business owners. Most people set up an LLC to limit the exposure of their personal assets from claims arising out of their business operations.   Our experienced attorneys will help guide you through the steps necessary to make sure you are protected.

 

Choosing Your LLC’s Name

Choosing your LLC’s name is an important first step in setting up your business.  You should choose a name that will catch your clients’ eyes. The name you choose must be sufficiently different from any other LLC or corporation already registered with the Secretary of State.  Additionally, your business name is required to identify itself as an LLC. The most common way to do this is by placing LLC, L.L.C., or Limited Liability Company at the end of the chosen name.

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How To Get an Absolute Divorce in North Carolina

Couple getting an absolute divorce in north carolina

 

If you are making the difficult decision to part ways with your spouse, you need to make sure you speak with an experienced lawyer who can advise you throughout the entire process.  Below are a few steps that are on the path to file for an absolute divorce in North Carolina.

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FAQs About Contesting a Will in NC

Woman contesting a will in NC

Are you interested in contesting a will in North Carolina?

Do you believe that your loved one’s probated will is not a true representation of their estate wishes?

Do you have a more recent version of his or her will that has not been probated?

If you believe that there is some error in a will, you can contest it. Though it is not an easy process, it can be done. Here are some common questions about contesting a will in North Carolina:

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3 Reasons to Have a Special Needs Trust

If you or a loved one have special needs, you understand the financial strains that comes with providing the appropriate care for those needs. One way to address these concerns is through a special needs trust.  A special needs trust is a tool that allows the trustee to provide financial support for an individual with special needs while also allowing the individual to receive and maintain government benefits.

 

Speaking to a qualified estate planning attorney about a special needs trust can help you have peace of mind that you or your loved one’s special needs will be cared for:

 

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Common Estate Planning Errors That Will Cost Your Family Money

Couple struggling to resolve estate planning errors.

Getting your estate planning affairs in order? We often see estate planning errors that can be time consuming and expensive for your loved ones to resolve.

Here are our tips for avoiding these common estate planning mistakes:

 

1. Not Having an Estate Plan

Having no estate plan is the number one mistake you can make.

It will be extremely expensive for your family to administer your estate without a plan to follow. The state of North Carolina will dictate how your assets are distributed. If your family wants to change what is mandated by state laws they will have to engage in a difficult and expensive legal battle. A simple estate plan that includes your Last Will and Testament will provide enough guidance to your family to avoid these expensive legal costs.

For more on dying without a will, see our previous post: Does my spouse get Everything If I Don’t Have A Will In North Carolina?

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3 Common Concerns of a First-Time Executor

1st time executor of an estate struggling with estate distribution

Acting as an executor for the first time can be a daunting experience as there are many tasks to complete and serious legal and financial issues hanging in the balance. Being named as an executor means your deceased loved one selected you to be legally in charge of handling their estate and fulfilling their final financial obligations.

Here are three tips for making your job as an executor go as smoothly as possible.

 

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4 Essential Estate Planning Steps for Newly Weds

Estate Planning Tips For Newly Weds

Engaged? Congratulations! Between the dress shopping and cake tasting, don’t forget to add “call our lawyer about estate planning” to your long list of wedding “To-do’s.”

 

While preparing a will and thinking about future emergencies is not as fun as choosing floral arrangements, it is a smart way to say, “I Do” to a safe financial future. Here are the four essential estate planning steps we recommend for newly weds:

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Selecting your Health Care Agent

Selecting a health care agent

What is a Health Care Power of Attorney?

A Health Care Power of Attorney is a document in which you name a person, known as a health care agent, to make medical decisions on your behalf in the event you cannot make such decision on your own.

A health care power of attorney is an important estate planning tool, as it ensures that someone is able to make important medical decisions on your behalf  if you cannot do so yourself.

In your Health Care Power of Attorney, you grant your agent very broad powers to make decisions regarding your medical care.  For example, your agent could potentially choose which doctor will treat you, or consent to or decline medical procedures on your behalf.

How Do I Select My Agent?

Typically, you will designate one agent to act under your Health Care Power of Attorney, and will then name successor agents to act in the event that your primary agent is unable or unwilling to make decision on your behalf.

Given the broad powers your health care agent will possess, it is important to choose someone you trust to make decisions that are in your best interest.

Some factors to consider when designating your agent could be:

  • personality traits
  • family and relationship dynamics
  • the age and health of your health care agent
  • your agent’s geographic location.

Additionally, you should always discuss your wishes concerning your health care, including life prolonging measures, mental health treatment, and long term care plans with your health care agent.

The lawyers at Perry, Bundy, Plyler and Long LLP can discuss these considerations with you in relation to your specific situation, and can work with you to select the best health care agent for you. Give us a call at 704-289-2519 to discuss your estate planning wishes and protect your interests in the event that you can no longer make medical decisions for yourself.

What is a Living Will and Why Do I Need One?

A Living Will deals with your wishes about your end-of life medical care. A living will, also known as an advanced directive, is an important estate planning document that aids your family in understanding your wishes at the end of your life.

What is a Living Will?

A living will provides instructions regarding your end of life care to your health care providers.

It instructs your doctors whether you want to withhold life-prolonging care in certain situations and die a natural death.  If you suffer an irreversible condition that will soon result in death, if you are unconscious and it is unlikely you will ever regain consciousness or if you are suffering from advanced dementia and any loss in your cognitive ability is irreversible, your Living Will authorizes health care providers to withhold artificial life support.

Why do I Need a Living Will?

If you do not have a living will, your loved ones may face the added stress of making these choices for you in an already stressful situation. Having one gives your loved ones the peace of mind of knowing that you have a plan in place to receive the treatment that you want or don’t want. Additionally, it can ensure that your family will not be put in the position of making gut-wrenching end of life decisions on your behalf.  This reduces stress and can help to avoid family conflicts over your care.

The lawyers at Perry, Bundy, Plyler and Long LLP have over 110 years of combined experience writing living wills for North Carolina families. Give us a call at 704-289-2519, and we can help you think through what your desires are for end of life care and ensure that your wishes are properly documented.