Mewborn & DeSelms

How can you streamline your estate plan review?

2021-07-06T16:15:18Z

Working on an estate plan review can feel like a gigantic and overwhelming task. This is especially true for those of you with complex estates. But there are ways you can streamline the review and make it easier on you. One of the best ways to do this is by grouping the things you need to prioritize into categories. You can work from there and decide what things you can eliminate.

Focusing on your finances

Forbes goes into detail discussing what parts of your estate plan to prioritize in review. In general, you should focus on matters that relate directly to your finances. This can include any bank accounts you have, along with your will and trust. Your financial situation will change frequently throughout your life, and it is one of the most crucial factors in your estate plan. Thus, you always want to ensure that your estate plan reflects your current reality.

Crucial figures in your plan

The people in your estate plan are also subject to change. This includes beneficiaries and active figures. Beneficiaries have something to gain after your death. For example, a beneficiary is someone you list in your will for inheritance of assets. A beneficiary is also whoever will gain something from your insurance policy, or any benefits like military spousal benefits. Active figures take an active role in your end of life stages. They will usually manage your finances and can even make health care calls on your behalf if you cannot. Such figures include your power of attorney and healthcare proxy. Needless to say, you want to be on good terms with all of these people. You can and should remove anyone from your will that you no longer have contact with. These two categories alone often suffice for a short review.

Is drowsy driving a form of distraction?

2022-10-10T07:56:26Z

Distractions on the road contribute to a massive number of deaths and injuries every year. Unfortunately, there is no real sign of this slowing down, either. Many behaviors fall under the umbrella of driver distraction. Some are easy to pinpoint, such as texting while driving. Others are a little harder to categorize, such as driving without getting enough sleep. But all of these behaviors create the same potential risks.

Issues distracted and drowsy drivers face

The Centers for Disease Control and Prevention discuss drowsy driving and the potential hazards it may cause. Drowsy driving is a distracted driving behavior due to the fact that it takes your attention away from the road. Because of that, it creates the same risks that other forms of distraction do. This can include:

Not noticing danger in time to react to it
Having a distorted sense of where things are or when they happen
Being unable to concentrate on surrounding vehicles or traffic signs and signals
Having slow physical and mental reaction times to your surroundings

Falling asleep at the wheel

On top of that, drowsy driving holds a unique risk in the form of falling asleep at the wheel. Needless to say, this is one of the most dangerous potential situations a driver can get into. Falling unconscious renders a driver incapable of reacting in any way. Sleeping drivers often end up in lethal crashes because of that, as it is common to rear-end someone at full speed or drift over the center dividing line into oncoming traffic. Experts continue working to bring awareness of this danger to drivers everywhere. In the meantime, drivers refusing to get behind the wheel when exhausted can help potentially cut down on distracted driving fatalities and injuries.

Reviewing the penalties of DWI charges

2021-06-28T13:52:59Z

If a law enforcement official recently stopped you for drunk driving and DWI charges have arisen, you need to explore your legal options and understand the potential consequences associated with your case. Many lives are irreparably damaged due to DWI charges, including those wrongly accused of driving while impaired. From losing your job to sustaining serious damage to your reputation, spending time behind bars and struggling with costly fines, these allegations create lasting damage for many people in this position.

Looking at the levels of DWI charges

The North Carolina Department of Public Safety reports that drivers face different penalties for DWI depending on the details surrounding their case. Level V DWI charges can result in 24 hours to 60 days behind bars and a $200 fine. Level I and Level II DWI charges carry much harsher penalties. Those facing Level I charges could spend 30 days to 2 years behind bars and $4,000 in fines, while Level II DWI charges carry a maximum sentence of 1 year in jail and $2,000 in fines. People face Level I and Level II DWI charges for different reasons, such as DWI cases involving children, injuries and repeat offenses.

Looking at felony and underage DWI

In North Carolina, DWI becomes a felony if drivers have three DWI convictions in the last 7 years. Moreover, these charges include a mandatory jail sentence of at least 1 year. Also, those under the age of 21 cannot drive with any level of alcohol in their system. Those under 21 caught with any amount of alcohol in their system face license revocation and other repercussions.

Will I get points for speeding in North Carolina?

2021-06-30T19:22:29Z

North Carolina has a basic and an absolute speeding law. The absolute law refers to driving faster than the posted or established speed limit while the basic law prevents drivers from traveling faster than safe for current road conditions. Drivers can receive points on their records for speeding and other offenses, which may result in license suspension.

The point system

North Carolina imposes a license suspension for drivers who get 12 or more points in three years. Points related to speeding may include:

3 points for traveling faster than 55 miles per hour while speeding
3 points for speeding in a school zone
4 points for speeding that results in reckless driving charges

In addition to points, drivers must pay fines and court costs if convicted of speeding.

License suspension

Some speeding offenses result in immediate license revocation. Motorists can receive a 30-day revocation for speeding faster than 55 mph and more than 15 mph over the speed limit. A 60-day revocation can result from a second such offense or from receiving both a speeding and a reckless driving ticket. Drivers can receive a suspension in North Carolina for racing with another driver, getting two speeding tickets in a year, or getting both a reckless driving ticket and a speeding ticket in the same year. Automatic suspension can also result from speeding faster than 75 mph or from getting a speeding ticket on a revoked license. In some cases, drivers can appeal their points or license suspensions. They may also qualify for a restricted employment license.

Documents that make end-of-life decisions easier for loved ones

2021-04-14T19:33:08Z

Creating a North Carolina estate plan can help ensure your assets go to the beneficiaries you choose in the way that you prefer It is also the best place to state your requirements for end-of-life care. According to the North Carolina Secretary of State, advance health care directives enable you to give written instructions about your health care in the future if you become incapacitated. There are several types of advance directives and each covers different situations that may arise. The two most common are a living will and durable power of attorney.

Living will

This document is for end-of-life decisions if you are terminally ill or permanently unconscious. It addresses the type of medical treatments you do and do not want under these conditions. A living will can address life-prolonging procedures, such as tube feeding, life support and dialysis. You may include do not resuscitate orders which instruct health care providers not to use CPR if your heartbeat or breathing stops.

Durable power of attorney

Also known as medical power of attorney, the person you appoint makes health care decisions when you cannot. It informs medical decisions and allows them to become your advocate. Your doctor must certify that you cannot make your own decisions before your proxy can step in on your behalf. The person you name should know you well and be someone you trust to carry out your wishes. A comprehensive estate plan can not only minimize probate costs and ensure your loved ones receive your assets per your wishes, but it can ensure the medical steps taken at the end of your life are too.

How to handle a DWI charge

2021-04-14T19:32:24Z

If you were driving while intoxicated and are facing DWI charges, you should understand what the potential penalties are. The consequences of a conviction can affect your finances, career and family life, and some of them are long-lasting.

Penalties for a DWI

According to the North Carolina Department of Public Safety, misdemeanor DWI convictions are in five levels, and there is also a felony DWI conviction for habitual offenders. Level V is the least serious and level I is the most serious. Penalties range from a fine of $200 to $4,000, minimum jail time of 48 hours to 30 days, with a maximum of up to two years. At the less serious levels, a judge may suspend the sentence in lieu of jail time, community service or the ceasing of vehicle operation for a period of time. For a felony DWI, there is a minimum jail time of one year as well as a substance abuse program requirement. Refusing a breath or blood test can result in license revocation for one year, even if you do not receive a DWI conviction in court.

Potential defense strategies

Because of the seriousness of the charge, it is worth fighting it in court. FindLaw outlines some defense strategies that may be effective. One argument is that you were unaware that you were drinking alcohol, such as if someone spiked your drink without your knowledge. Evidence may also show that you genuinely believed you were not drunk. Other defenses may include duress, necessity and entrapment. The most common defense strategies, however, are to fight the actual blood or breath test results or challenge the legality of the initial traffic stop.

How should you talk with your parents about their estate plan?

2021-04-14T19:30:26Z

Your parents recently announced their retirement, and you feel elated to celebrate this chapter of their lives. While helping to plan the retirement party, you think about what lies down the road ahead for your mother and father. How do you talk to them about their estate plan in a way that respects and honors them? Money Crashers offers tips for talking to aging parents about their estate. Learn how to support your loved ones and ensure they take care of themselves.

Bring your siblings into the conversation

If you have brothers or sisters, do not leave them out of the conversation. They deserve to know your parents' desires, and making them part of the discussion may help prevent misunderstands or hurt feelings. Further, you may need your siblings' help to carry out your parents' estate plan.

Take your time

Just as you may experience difficulty talking to your parents about their death, your mother and father may feel the same way. Let them know they do not have to have this conversation all at once. If they wish, they can break to discussion down into several conversations.

Take notes

Whatever your parents share about their estate, write what they say. This helps to make remembering things easier, but recognize that what they want may change over the years. Ensure your parents make their desires legal with the proper documents and professional advice.

Hear what they say

You may disagree with how your parents want to handle their assets, or their end-of-life medical decisions may leave a sour taste in your mouth. Leave judgment out of the equation and keep your parents front and center. Find the strength to have an emotionally intense conversation with your parents. Your future self may appreciate your bravery.

What is the purpose of a driver improvement course?

2021-04-14T19:29:40Z

Traffic laws in North Carolina lay out some harsh consequences for those who fall under the "repeat offender" category. Whether you were in the wrong place at the wrong time or just had a bad day behind the wheel, finding yourself in a situation where you are being docked points against your license is something that you need to take seriously. Too many of these points may mean the loss of your driving privileges. In order to prevent the suspension of a license, some people opt to take a driver improvement course. They must be notified that they are allowed to take one of the courses in order to qualify for a points reduction. According to the North Carolina Department of Transportation, you can participate in a course once every five years. Depending upon the circumstances of the violations in question, there are four-hour or eight-hour courses that are available for a fee.

The main benefit to driver improvement courses

Perhaps the most obvious benefit of participating in and completing a driver improvement course is to reduce the number of points on your record. If you complete a qualified course, submit proof of your completion and have a conference with the administrative hearings officer, the points will drop off of your record. Depending on the number of points you have, as well as on the circumstances surrounding your suspension, your participation could help you potentially get your license back faster.

Learn and apply knowledge when on the road

The primary purpose for these courses is to emphasize some of the things that motorists can do to be more safe when behind the wheel. They teach defensive driving habits that help people understand some of the behaviors that they should and should not engage in when operating a motor vehicle. This helps you become a better driver, and helps you avoid being put in positions that may result in additional traffic tickets.

What happens to someone’s bills when they pass away?

2021-04-14T19:28:51Z

The loss of a loved one is often a very traumatic moment in a person's life. If that individual was someone that you relied upon for support financially, it can be hard to know how you will be able to make ends meet after he or she has passed. For those tasked with making an accounting of the estate's assets and debts, this can add to the stress involved with the loss. If you are the executor of the individual's will or other estate planning documents, you will need to determine all of the assets and debts that are connected with the estate. It will be your responsible to ensure that creditors are notified of the death, and that debts are paid in a timely manner. These debts can include credit card bills, utilities and other debts, such as income taxes, for the year in which the individual passed away.

What pays the bills?

CNBC explains that after evaluating the estate, you may need to determine what passes directly to heirs and beneficiaries without going through the probate process. This can be challenging, as people do not often include this information in one place. You might have to do some digging to really know what exactly is out there, and the funds associated with these accounts. For example, consider an instance where your loved one named his daughter on a valid life insurance policy and his son on his retirement account. These assets may pass directly to the named beneficiaries without first having to through probate.

What happens if the estate is in debt?

When an estate has more debts than assets, it is important to take a close look out the outstanding bills of the estate. When funds are short, you may have to determine which of the bills is most important. Finding the right path forward there is extremely challenging, and carries significant risks. Executors could find themselves facing potential financial uncertainty if they do not deal with the debts in the correct manner. In some circumstances, creditors who have no been repaid may try to bring actions to recover the amounts that they are owed. They are frustrating and time-consuming lawsuits, and could tie up assets while the case is ongoing. Often, these cases are unsuccessful, but this is stress that you do not need at an already difficult time in your life. An experienced lawyer can help guide you through the probate process to make sure that a loved one's final expenses are dealt with correctly. This can allow you to focus on the grief that comes with your loss.

Formulating an estate tax strategy

2021-04-14T19:27:54Z

One of the biggest questions that people have when they come into our firm to discuss estate planning concerns the taxes that their estates may be subject to when they pass away. This can be a bit of a complex question, depending upon the size of the estate in question. There are two types of taxes that can apply in these situations - those are the federal level, and those at the state level. The good news is that North Carolina does not tax estates, so that ends up being one less thing that they need to worry about. Estates can potentially be subject to taxation at the federal level, however, so it is important to have an idea what to do if your estate meets the criteria where taxes may apply.

Understanding the federal estate tax exemption

There is a pretty high bar that an estate needs to clear in order to be one subject to federal estate taxes. With careful planning, one might even be able to avoid (or at least mitigate) their federal estate tax liability. The federal government offers an estate tax exemption regulated by a threshold amount (which lawmakers reconfigure annually). Provided the total taxable value of one's estate comes in under the threshold amount, it will not be subject to taxes. According to Forbes Magazine, the federal estate tax threshold for individuals for 2021 is $11.7 million. Plus, married couples can expand their collective exemption amounts even further through estate tax portability.

Taking advantage of portability

Tax portability refers to the sharing of tax benefits - in other words, allowing another person to take advantage of a person's federal estate tax exemption. Spouses are allowed to use the unused portion of the unused exemption to pass along more of an estate untaxed. In many cases, the surviving spouse receives all of a decedent's property, which passes to them tax-free thanks to the unlimited marital deduction (preserving their entire estate tax exemption in the process). Per the Internal Revenue Service, the surviving spouse can then claim that entire $11.7 million unused exemption by filing an estate tax return within nine months of the other's death (effectively doubling their exemption threshold to $23.4 million).