WILLS & ESTATES
A PLAIN GUIDE TO YOUR FIRST ESTATE PLAN
Your first estate plan needs four documents: a will, a durable power of attorney, a health care power of attorney and a guardian nomination if you have young children. Together they decide who acts for you and who raises your kids.
Step by step
List what you own and how it is titled
Accounts with beneficiaries and jointly owned homes pass outside the will. Knowing which is which keeps the plan from contradicting itself.
Choose the people before the paperwork
Pick an executor, a financial agent, a health care agent and a guardian, plus a backup for each. Ask them first.
Sign with the right formalities
North Carolina has specific witness and notary requirements. A self-made will that misses them can fail when it matters most.
Store it where it can be found
Tell your executor where the originals are. A perfect will in a locked drawer nobody can open does little good.
An estate plan is less about money than about sparing the people you love from guessing.
| Document | When it works | What it decides |
|---|---|---|
| Will | After death | Who inherits and who administers |
| Durable power of attorney | During incapacity | Who handles money and property |
| Health care power of attorney | During incapacity | Who makes medical decisions |
Common questions
- Is a trust better than a will?
- Sometimes. Trusts help with privacy, blended families and property in several states, but many first plans do not need one.
- How often should I update it?
- Look at it every three to five years and after any major life change.
“A simple plan signed this year beats a perfect plan you keep meaning to start.”
General information for North Carolina readers, not advice for your situation.
