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Importance of Estate Planning

Did you know that 55% of people in the United States don’t have a will, or other estate planning document in place? Planning for when you’re no longer around can seem like a daunting task. Our attorneys at Sumrell Sugg are well-versed in all facets of estate planning, and can make the process of planning for your future easier.


What Sumrell Sugg can do to assist in planning for your future


The Estate Planning and Probate Group at Sumrell Sugg creates comprehensive estate and retirement plans including the creation of a will or trust, and also considers tax, family, retirement, insurance, power of attorney, guardianship, disability and financial objectives for yourself as well as for future generations.

Wills are legally binding documents that outline an individual’s wishes for their property and assets after their death, including providing guardianship of minor or dependent children. The North Carolina law states that as long as you are 18 years or older and of “sound mind” you can have a will.


Did you Know?

An interesting facet of North Carolina’s estate planning laws is that handwritten wills are allowed in some cases. The will must be entirely written in the testator’s handwriting and be found among other important documents. However, the best way to ensure that your assets will be divided per your wishes is to have a will formally written and witnessed by at least two people.


Advantages of a Trust

Another way to plan for your estate is to create a trust. A trust outlines how property and other assets will be divided after death. One of the primary advantages for choosing to create a living trust is to avoid probate court. A trustee is named to control the division of assets in the trust, according to the wishes of the person creating the trust.

Proper planning and careful execution are necessary to ensure the preservation of the wealth that clients have created for themselves and for their families.  At Sumrell Sugg, we help our clients navigate the complexities of federal and state tax laws, attempt to minimize costs, and ensure the proper and efficient administration of decedent’s estates.

Members of the Estate Planning and Probate Group are well-versed in planning techniques that assist clients in successfully addressing state/federal income and estate tax issues. Sumrell Sugg attorneys address concerns such as lifetime giving plans, living trusts, and charitable planning, taking into account tax issues, human factors, family dynamics and financial management issues.


For more information, or to schedule a consultation, contact us today by calling

(252) 633-3131. Sumrell Sugg is a progressive firm that strives always to deliver exemplary responsiveness to its clients. Whether clients are individuals, corporations, or local governments and municipalities, the firm delivers an undeviating promise of service.


(source: LegalZoom)

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