Elder Law Report
Elder Law Report
A Guide to Spousal Allowance Benefits in NC
Unlock the secrets of navigating North Carolina's spousal allowance with me, attorney Samantha Gordon from McIntyre Elder Law. Have you ever wondered how you can avoid the tangled web of probate to ensure a smoother transfer of assets after a spouse's passing? This episode of the Elder Law Report offers invaluable insights into how the spousal allowance enables surviving spouses to inherit up to $60,000 in tangible personal property without the need for probate. From cars and furniture to precious artwork, we discuss how these assets can be efficiently transferred, sparing you from the cumbersome legal proceedings and creditor claims.
In a landscape where timely and efficient asset transfer is crucial, understanding the intricacies of a spousal allowance becomes paramount. Join us as we explore potential scenarios, offering practical advice and underscoring the importance of planning ahead to protect your loved ones. We also address how a free consultation can pave the way for avoiding probate, ensuring your peace of mind during a challenging time. Prepare to equip yourself with knowledge that could make all the difference in safeguarding your assets and securing a smoother transition for your family.
Hi, I'm attorney Samantha Gordon with McIntyre Elder Law here to discuss the Elder Law Report.
Samantha Gordon:Today we're going to discuss what a spousal allowance is. What is it? Well, it's kind of what it sounds like. It's an allowance that's given to a spouse after the other spouse passes away. So, for example, if your spouse passes away and has a vehicle that's just in their name, how do you get that vehicle transferred out of their name into your name? Well, you can do a spousal allowance. A spousal allowance is a law in North Carolina that allows the spouse the living spouse to inherit up to $60,000 of the deceased spouse's tangible personal property vehicles, furniture, clothing, jewelry, anything that needs title transferred, which generally can be a vehicle. Also, it can be if there's a piece of artwork that was only titled in your spouse's name. It could also be if there's anything else that has.
Samantha Gordon:Damn it. I started rambling. That was good, sucks. Well, the thing about the elder law report is I cut them. Okay, so I should just start Keep going. Mm-hmm. Okay, what was the last thing I said that made sense? That the car can be part of the $60,000. Okay, so a vehicle can be part of that $60,000, meaning that if your spouse passes away, has a vehicle that's only titled in their name.
Samantha Gordon:What you can do with a spouse allowance and we help clients do all the time is fill out a document that's submitted to the court that says this is what is titled in my deceased spouse's name. I'm entitled to it as a living spouse, which doesn't make the spouse that's living have to file for probate, which is the ugly court proceeding, where you have to file court documents. You have to ask the court to approve transfer of assets. You also have to open up any assets to creditor claims. So through a spousal allowance, you are entitled to the first $60,000 of tangible personal property from your spouse who passed away, which would allow you to get that property without having to ever file a full estate also opening up anything to creditor claims. A lot of spouses like to do this because it is an easier process if something were to happen and it's not going to be something that's drawn out through the court process. So if there's any type of items that could be applicable for a spousal allowance, it would allow you to get that done quickly to allow you to transfer any of those assets in a time. That really isn't something that you want to do, but it allows you to do it in a quicker fashion than opening up a full estate.
Samantha Gordon:We handle spousal allowances. We do handle up probate. Sometimes that is something that has to happen, but we really also want to meet with our clients to discuss how we can avoid probate, how we can avoid possibly having to do a spousal allowance. So we would love to offer you a free consultation to discuss that and so much more. Our telephone number is 888-999-6600, or you can go to our website at mcelderlawcom. Slash scheduling, I feel like I like was very repetitive.