Two of the most common client frustrations are lack of information and lack of communication. Here, at Harvell and Collins, P.A., we try to do our very best to disseminate useful legal information and increase communication. Our BLOG is just one way that we attempt to accomplish these objectives. Please read through our entries and if there are any particular topics you would like addressed let us know.
Cecil Harvell and Wes Collins discussed the elective share rights of surviving spouses in North Carolina, emphasizing the importance of understanding statutory rights and the implications of asset titling. They highlighted the short six-month deadline for filing an elective share claim and the complexities involved in determining the value of assets, particularly in cases of closely held businesses. The conversation underscored the necessity of proper estate planning to avoid adversarial situations and ensure that surviving spouses are adequately protected. Read More
Elective shares serve as a crucial legal protection for surviving spouses, ensuring they receive a portion of their deceased spouse’s estate. On Let's Talk Legal, attorneys Cecil Harvell and Wes Collins explored the complexities of elective share claims, statutory protections, and the importance of estate planning. Read More
Minority shareholders play a crucial role in corporations and LLCs, but they often face challenges in decision-making and financial transparency. On Let’s Talk Legal, attorneys Cecil Harvell and Wes Collins discussed the legal rights and protections available to minority shareholders in North Carolina, the fiduciary duties of majority shareholders, and the importance of corporate compliance. Read More
This episode focused on the rights and protections of minority shareholders in corporations and LLCs, highlighting the fiduciary duties of majority shareholders to act fairly and transparently. Wes Collins discussed specific legal provisions in North Carolina that allow minority shareholders to request financial information and take legal action if their requests are denied. The conversation also touched on the advantages of organizing a business as a corporation or LLC compared to a partnership, emphasizing the need for proper documentation and transparency to prevent disputes. Read More
Property ownership can be complex, especially when multiple individuals are involved. On Let’s Talk Legal, attorney Cecil Harvell discussed the distinctions between real property and personal property, the legal nuances of property deeds, and the importance of estate planning in managing ownership transitions. Read More
Cecil Harvell discussed the distinctions between real property and personal property in North Carolina, emphasizing the importance of understanding property deeds, particularly tenants in common and tenants by entirety. He highlighted the complexities that arise in property ownership, especially in cases of inheritance and divorce, and the necessity of clear legal documentation to avoid disputes. The conversation underscored the need for individuals to review their estate plans following significant life events to ensure their intentions are accurately reflected in their property ownership. Read More
Life estates are a valuable estate planning tool, but they come with significant responsibilities and long-term implications. On Let’s Talk Legal, attorneys Cecil Harvell and Wes Collins discussed how life estates work, their benefits in long-term healthcare planning, and the potential conflicts between life tenants and remaindermen. Read More
Cecil Harvell and Wes Collins discussed the concept of life estates, emphasizing the responsibilities of life tenants and the importance of thorough planning to avoid potential conflicts between life tenants and remaindermen. They highlighted the value of life estates in long-term healthcare planning and the tax benefits associated with retaining a life estate. The attorneys encouraged listeners to seek legal advice and ask questions to ensure proper understanding and management of estate planning. Read More
Cecil Harvell and Wes Collins discussed the importance of understanding fiduciary responsibilities, emphasizing that individuals in roles such as executors, trustees, and agents under power of attorney should seek legal advice early in their involvement to avoid complications. They highlighted the implications of mismanagement, including potential litigation and financial penalties, and stressed the need for transparency and communication among family members regarding financial decisions. The conversation concluded with a reminder to consult legal professionals before taking actions that could have significant legal and financial consequences. Read More
Fiduciary roles come with significant legal and financial obligations. On Let’s Talk Legal, attorneys Cecil Harvell and Wes Collins discussed the responsibilities of executors, trustees, and agents under power of attorney, emphasizing the importance of seeking legal advice early to prevent costly mistakes. Read More
