In a move to enhance transparency and accountability within the business landscape, the federal Corporate Transparency Act (CTA) was enacted. Designed to combat illicit financial activities and promote transparency, the CTA requires certain businesses to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN).

May is National Elder Law Month: Learn how Elder Law attorneys can protect your Legacy

Dying without a Will

Signing a Last Will & Testament in North Carolina

In North Carolina, the probate process can take months before assets can be distributed to beneficiaries. (Please see Willett Legal’s article on the Probate Process in North Carolina). Only after administrative costs, taxes, and debts of the estate have been paid and all administrative procedures have been completed may the personal representative distribute the remaining estate assets according to the will.

A trust, in general terms, is nothing but a set of instructions that a Trustmaker gives to a Trustee who agrees to carry out those instructions. A trust may be revocable or irrevocable. A Medicaid Asset Protection Trust is irrevocable but irrevocability does not mean inflexible.