Why Estate Planning Matters: Whether you're just starting out or updating existing documents, this checklist will help ensure your wishes are honored and your loved ones are protected. North Carolina has specific laws that affect how your estate is handled—use this guide to cover all the essentials.

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Essential Legal Documents

Last Will and Testament

Names your executor, designates guardians for minor children, and directs how your assets will be distributed. Must be signed by you and two witnesses in North Carolina.

Revocable Living Trust NC CONSIDERATION

Helps avoid probate in NC, which can take 9-12 months or longer. Particularly valuable if you own property in multiple states or want to keep your estate private.

Durable Power of Attorney (Financial)

Allows someone you trust to manage your financial affairs if you become incapacitated. In NC, this must be signed, notarized, and can be recorded.

Health Care Power of Attorney NC SPECIFIC

NC uses a Health Care Power of Attorney (not a "medical" POA). Designates someone to make medical decisions for you. Must be witnessed by a notary or two witnesses.

Living Will (Advance Directive) NC SPECIFIC

In NC, this is called a "Declaration of a Desire for a Natural Death." Specifies your wishes for end-of-life care. Must be witnessed by two people or a notary.

HIPAA Authorization

Allows designated individuals to access your medical records and discuss your care with healthcare providers.

💡 North Carolina Probate Tip

NC estates valued under $20,000 (or $30,000 for surviving spouses) may qualify for a simplified small estate process. Proper planning can help your heirs avoid the standard 9-12 month probate timeline.

Asset Inventory & Documentation

Real Estate Documentation

List all properties, deeds, mortgages, and current values. Note which properties are held jointly, in trust, or individually.

Financial Accounts List

Bank accounts, investment accounts, retirement accounts (401k, IRA, pension), and brokerage accounts with account numbers and institutions.

Life Insurance Policies

Policy numbers, death benefit amounts, and beneficiary designations. Review beneficiaries regularly—they override your will.

Business Interests

Ownership documents, partnership agreements, buy-sell agreements, and succession plans for any businesses you own.

Digital Assets

List online accounts, cryptocurrency, digital photos, social media, email accounts, and important passwords or password manager information.

Debts and Liabilities

Mortgages, car loans, credit cards, personal loans, and any other outstanding debts.

Beneficiary Designations

Review All Beneficiary Forms CRITICAL

Beneficiary designations override your will in NC. Review retirement accounts, life insurance, bank accounts with POD (Payable on Death), and TOD (Transfer on Death) designations.

Name Primary and Contingent Beneficiaries

Always name backup beneficiaries in case your primary beneficiary predeceases you.

Update After Major Life Events

Marriage, divorce, births, deaths—all require immediate beneficiary updates.

Important Appointments

Executor/Personal Representative

Choose someone trustworthy and organized to handle your estate. Name an alternate in case your first choice cannot serve.

Trustee (if applicable)

If you have a trust, name who will manage it. Consider a successor trustee as well.

Guardian for Minor Children NC IMPORTANT

In NC, both parents should name guardians in their wills. Discuss your choice with the proposed guardian first and name backups.

Health Care Agent

Name someone to make medical decisions if you cannot. Discuss your values and wishes with them in advance.

Financial Power of Attorney

Choose someone who is financially responsible and whom you trust completely.

💡 Tax Considerations

North Carolina does NOT have a state estate tax or inheritance tax. However, federal estate tax may apply to larger estates. Please consult with a qualified CPA or tax professional to understand the tax implications of your estate plan.

Communication & Storage

Inform Key People

Tell your executor, trustee, and health care agent about their roles and where to find important documents.

Secure Document Storage

Keep originals in a fireproof safe or safe deposit box. Provide copies to your attorney and key individuals.

Create a Letter of Instruction

A non-legal document with funeral wishes, location of documents, account passwords, and personal messages to loved ones.

Share Document Locations

Ensure family members know where to find your will, trust, insurance policies, and account information.

Review & Maintenance

Schedule Regular Reviews

Review your estate plan every 3-5 years or after major life events (marriage, divorce, births, deaths, major asset changes).

Update for Law Changes

Estate planning regulations change. Stay informed or work with an attorney who will alert you to important changes.

Review Property Ownership

Ensure your real estate and assets are titled correctly to align with your estate plan (individual, joint, trust ownership).

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DISCLAIMER: This checklist is for informational and educational purposes only and does not constitute legal advice. Estate planning laws are complex and vary by individual circumstances. You should consult with a qualified North Carolina estate planning attorney to ensure your plan meets your specific needs. Balbach & Davenport Legal makes no warranties or representations regarding the accuracy or completeness of this information.

North Carolina Estate Planning Checklist