Cecil Harvell advised a year-end legal inventory: review and update beneficiary designations (IRAs, 401(k)s, annuities, life insurance), wills, and powers of attorney every few years to ensure agents and executors are current. Address real property issues now—surveys, easements, ingress/egress, and potential adverse possession—to avoid costly disputes for heirs. For businesses, maintain corporate formalities (minute books, charters, bylaws/operating agreements, issued certificates, separate bank accounts) to preserve liability protection, and seek legal help to rectify past omissions; contact Harvell & Collins for assistance.

Estate Planning & Beneficiary Designations

• Importance of reviewing beneficiary designations on IRAs, 401(k)s, annuities, and life insurance to ensure they reflect current wishes and survivors; common problem: deceased beneficiaries still named (00:50, 01:17, 02:09, 02:35, 03:11). [00:50] [01:17] [02:09] [02:35] [03:11]

• Recommended review cadence for wills and powers of attorney: every 3–9 years (odd years rule of thumb); many documents are 20–25 years old and likely need updates due to changes in law or family circumstances (03:40, 04:09). [03:40] [04:09]

• Check agents and fiduciary appointments (executors, POA agents, healthcare agents) to ensure appointees are alive, capable, and still desired; consider naming co-fiduciaries if appropriate (04:33, 05:19, 05:47). [04:33] [05:19] [05:47]

• Consequences of outdated beneficiary designations: accounts may be locked or default to an estate; resolving these situations can be a complex, time-consuming process (20:49, 21:14, 21:42, 22:08). [20:49] [21:14] [21:42] [22:08]

Real Property & Survey Issues

• Importance of addressing property line discrepancies, easements, ingress/egress, docks, piers, and bulkheads now rather than passing problems to the next generation (05:47, 06:16, 06:43). [05:47] [06:16] [06:43]

• Rural/metes-and-bounds properties (common in Carteret, Craven, Onslow, Jones counties) often face unique survey and boundary challenges compared with lot-and-block subdivisions (07:25, 19:29). [07:25] [19:29]

• Surveys are costly and surveyors may have multi-month lead times; listeners should order surveys early (16:38). [16:38]

• Issues such as encroachments, adverse possession, and clouds on title can arise when neighbors or prior informal arrangements have existed for years; resolve while original parties are available to document agreements (17:06, 18:21, 18:50, 19:29, 20:23). [17:06] [18:21] [18:50] [19:29] [20:23]

Corporate Governance & Business Records

• Businesses (LLCs, S/C corporations, 501(c)(3)s) must “stand up, walk, and talk like a corporation”: maintain minute books, certified charters, EINs, organizational meeting minutes, bylaws/operating agreements, stock or membership certificates, and corporate bank accounts (07:52, 08:19, 08:44, 09:11, 09:40). [07:52] [08:19] [08:44] [09:11] [09:40]

• Common failures: clients form entities but do not open corporate bank accounts, issue stock certificates, hold annual meetings, or keep minutes—these failures can enable creditors or IRS to seek to pierce the corporate veil (10:27, 10:51, 11:18). [10:27] [10:51] [11:18]

• Remediation is possible: law firm can reestablish corporate minute books, obtain certified charters/EIN copies, prepare retroactive minutes for prior years, and put corporations on an annual maintenance schedule (12:05, 12:29, 12:56, 13:22, 13:52). [12:05] [12:29] [12:56] [13:22] [13:52]

Practical Advice & Client Encouragement

• Treat legal checkups like medical checkups: schedule periodic reviews rather than waiting until problems arise; most people need legal advice only occasionally but should plan for those checkups (22:35, 23:05, 23:31). [22:35] [23:05] [23:31]

• Engaging a lawyer for a few hours now can prevent much greater expense and complexity later; amortize the cost across future peace of mind and reduced downstream work for heirs (24:04, 24:26, 24:49, 25:16). [24:04] [24:26] [24:49] [25:16]

• Encourage adult children to prompt parents/grandparents to assemble and update documents so future estate administration is less burdensome (20:49, 24:26). [20:49] [24:26]

Local Context & Closing Remarks

• Emphasis on geographic context: many listeners live in East Carolina coastal communities with properties that commonly require easement and boundary attention (16:38, 17:51, 18:21). [16:38] [17:51] [18:21]

• Firm contact information and call-to-action: Harvell & Collins phone number (252-726-9050) and website (harvellandcollins.com) provided multiple times as resources for listeners to schedule reviews or get assistance (00:00–00:24, 11:40, 26:05). [00:00] [00:24] [11:40] [26:05]

• Closing: Season’s greetings and a reminder to start organizing legal affairs now rather than postpone (26:05, 26:33). [26:05] [26:33]

Actionable Next Steps (Implied)

• Review and update beneficiary designations on IRAs, 401(k)s, annuities, and life insurance. [02:09] [03:11]

• Pull wills, powers of attorney, and health care directives and verify appointed agents and executors. [03:40] [04:33]

• Order surveys or title work for property with potential boundary or easement issues; address encroachments/adverse possession risks. [16:38] [18:50]

• For business owners: assemble or rebuild corporate minute books, issue certificates, open corporate accounts, and put entity on annual maintenance. [08:44] [12:56]

• Schedule a legal “checkup” with a lawyer if documents have not been reviewed in several years. [22:35] [23:05]

Prepared by: Harvell & Collins (presenter: Cecil Harvell) Recorded: 2025-12-24