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The Cary Connection MARCH 2026
Cary Raleigh North Raleigh Chapel Hill
FIELDS AND FUTURES The Fate of Your Family Farm
Our nation may be becoming more technologically advanced with each passing day, but some traditional practices remain strong.
Farmland succession planning can be especially problematic when attempting to divide the property equally among multiple heirs. We sometimes hear from people who would like to split their recently inherited land in two or more ways. However, the more we work with them to identify precisely what occurs on that property, the clearer it becomes that we need to consider a preexisting business (not just land). In some cases, employees working on that property may be left with a question mark over their future. If you present one or more heirs with a piece of land without prior knowledge or proper foresight, they may view your asset as more of an unfair headache than a real estate heirloom. Just like families themselves, no two estate plans are exactly alike. Whether you own a home, a vacant property, or a revenue- generating farm, involving your potential heirs in the planning process early is always the best course of action. The sooner you determine the best future for your property, the easier it will be for those you leave behind to avoid unnecessary and potentially devastating disputes and legal entanglements. Farm inheritance is one of many topics covered on our YouTube channel ( YouTube.com/@CaryEstatePlanning ), which features hundreds of short videos designed to introduce you to various aspects of the estate planning process. Please subscribe for invaluable insight into many of the most overlooked factors that could determine the success or failure of your legacy plan.
Take farming, for example. Although we’re in a metropolitan area, North Carolina still boasts plenty of rural areas. In some cases, these include farms that have been in families for generations and produce cash crops. Of course, a time will come when the person who owns this land needs to determine how it will be overseen once they’re gone. Depending on how farmland is factored into an estate plan, this real estate could either present new financial opportunities for beneficiaries or cause confusion and upheaval upon your passing. When considering farm inheritance as part of your estate plan, it’s essential to understand that it differs from any other property you own. In many instances, coordinating the succession of farmland involves sentimentality, business considerations, and economic factors. Is the farm simply a nice piece of land your family has held onto for generations, or is it a money-generating business with employees, payroll, contracts, lease agreements, and other financial and logistical obligations? Are your beneficiaries already involved in any business related to the farm, or will they be taking over its operations for the first time? Do your intended beneficiaries even want to take over this land? These are just a few of the critical questions you must consider. Even though a farm can be a significant real estate asset, simply gifting it to one or more people at the time of your death could potentially overwhelm them if they’re unaware of the property’s current status and your wishes for it moving forward.
For North Carolina families with deep agricultural roots, careful estate planning with an experienced team can help preserve their land and legacy … all without leaving their loved ones to navigate uncertain fields alone.
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Guarding Your Digital Wealth
ESTATE PLANNING MEETS CRYPTOCURRENCY
Cryptocurrencies were once on the sidelines of investments, but their surge in value over the last several years has brought them to the mainstream. Today’s investors are directing billions of dollars into this asset class, and cryptocurrencies like Bitcoin and Ethereum are playing a growing role in wealth accumulation. While more people are holding cryptocurrencies, many overlook these assets in their estate plans. Because they are significantly different from traditional assets, it can be challenging even to know where to start. A great first step is to create a clear written inventory. This should include the types of wallets (cold or hot) it uses and whether your specific currencies are stored on an exchange or a piece of hardware. If you have a hardware wallet, note its storage location. If you use several apps, list each one. You’ll want to track the values of your crypto assets and keep a record of that as well. These values fluctuate too frequently for you to keep a completely accurate record, but a general estimate can help an executor understand what they’re handling. Next comes the access puzzle. Crypto does not function like a bank account. Heirs cannot call customer service and resolve the issue. They need keys, seed phrases, or login details, and those items must be kept in a secure place that remains private. Some people keep them in a password manager. Others use a paper record stored in a safe or an encrypted digital file. Whatever method you use, the most important thing is to inform your executor and at least one backup person of how to access it if they ever need to.
different chains or wallet types. Some families name a separate digital executor, while others entrust that role to a child, sibling, or advisor who understands the technology and security behind cryptocurrency. They don’t have to be a tech wizard, but you want someone who understands how wallets work, how to move coins without exposing their private keys, and when to seek professional help. For larger holdings, it may be advisable to wrap your cryptocurrency inside a structure such as an LLC held under a trust. An LLC can provide a single entity for multiple business interests and may offer an additional layer of protection from personal creditors. A revocable living trust can own your LLC interests, so your plan avoids probate and makes it easier for a successor trustee to step in and follow your instructions if you become ill or pass away. Taxes are another reason to plan. The IRS treats digital coins as property rather than currency. That means your heirs may face capital gains when they sell or trade what they inherit. Providing them with basic information, such as when you bought the asset, what you paid, and where it is held, will save your family money and time later. Like all estate planning, the ultimate goal here is to protect people as much as assets. With cryptocurrencies, that means connecting the legal pieces with clear instructions and secure access so something valuable doesn’t vanish just because no one knew how to reach it.
It also helps to consider the person who will manage these assets. A traditional executor might be uncomfortable working with
“With cryptocurrencies, estate planning isn’t just about assets — it’s about secure access, clear instructions, and making sure something valuable doesn’t vanish.”
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Parachutes Turned Into Wedding Gowns Dresses From the Sky
TAKE A BREAK
BASKETBALL BOOKS DAFFODIL DAYLIGHT GUINNESS IRIS LEPRECHAUN POPCORN RAINY SHAMROCK SUFFRAGE WINDY
Most wedding dresses come from boutiques or family closets. But in the 1940s, some came from the sky. During and after World War II, brides across the U.S. and parts of
Europe walked down the aisle in gowns made from parachutes. Equal parts scarcity and sentiment contributed to the development of this tradition.
At the time, budgets were tight. Brides-to-be faced fabric rationing, and the military got most of the nylon. A parachute offered yards of strong, clean material, making it valuable. But for some couples, the biggest draw wasn’t the fabric. It was the story tied to it. One of the most famous examples is that of Major Claude Hensinger, who was forced to parachute out of a burning bomber. The chute delivered him safely to the ground and served as his bedding while he waited for rescue. He proposed to his girlfriend, Ruth, after returning home and suggested she use that same parachute for her gown. She hired a seamstress to construct the bodice and gathered the skirt herself using parachute cords. The finished dress, inspired by one from “Gone With the Wind,” now sits in the Smithsonian. Another bride, Carolyn Martin, made her own parachute dress after her fiancé, Chuck, survived a training flight crash. Carolyn transformed his parachute into a wedding dress using the sewing skills she had picked up in eighth grade. It is now part of the San Diego Air and Space Museum’s collection. A far more elaborate dress is stored at the National Museum of the United States Air Force. It originally belonged to an Air Force family and was pieced together from nine parachutes used in combat. One of the most meaningful parachute dresses, though, came from a displaced persons camp in Germany. Two Holocaust survivors, Ludwig Friedman and Lilly Lax, married at the camp in 1946. To make the wedding dress, Ludwig bought a parachute from Allied troops, and Lilly hired a seamstress using cigarette rations. Two more brides at other camps borrowed their dress before it was preserved at the U.S. Holocaust Memorial Museum. Parachute nylon was never meant to be heirloom fabric. But during a time of shortages and uncertainty, that’s what it became.
St. Patrick’s Day Shamrock Swirl Pie
Ingredients
• 1 cup heavy cream • 8 oz cream cheese, softened • 1 cup powdered sugar • 1 tsp vanilla extract • 1/2 cup mint chocolate chips
• 1/4 cup green food coloring, for vibrant color • 1 premade chocolate pie crust • 1/2 cup chocolate syrup, for drizzling
Directions 1. In a mixing bowl, whip heavy cream until stiff peaks form. 2. In a separate bowl, beat softened cream cheese until smooth. 3. Add powdered sugar and vanilla to cream cheese, mixing until well combined. Then, gently fold whipped heavy cream into the mixture. 4. Divide mixture into two bowls. In one bowl, add mint chocolate chips and green food coloring. 5. Layer mixtures into chocolate pie crust, alternating between mint mixture and the plain mixture. 6. Drizzle chocolate syrup over top. 7. Cover with cling wrap and refrigerate for at least 4 hours to set. Slice and serve chilled.
Inspired by MixUpRecipes.com
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Cary Raleigh North Raleigh Chapel Hill 1255 Crescent Green, Suite 200, Cary, NC 27518 919-726-0896 CaryEstatePlanning.com
Inside This Issue
1
Farmland Succession Strategies
2
Protecting Crypto Beyond Your Lifetime
3
St. Patrick’s Day Shamrock Swirl Pie
Brides Who Wore Parachutes
4
A Rock Star Lesson in Wills
Jim Morrison’s Estate Mistake THE DOORS TO AN UNINTENDED HEIR
As the legendary frontman for The Doors, Jim Morrison lived fast, wrote boldly, and left behind music that continues to captivate people more than 50 years later. He died in Paris at 27, and while most people that young have nothing in place, he actually left a will. But that will sent his wealth to people he never intended to have it. In his will, Morrison left almost everything to his longtime partner, Pamela Courson. He added one condition. She would only receive her inheritance if she lived 90 days past his death. If not, the estate would go to his brother and sister. Courson lived long enough to receive everything, but she died just a little over two years later without a will of her own. That was when the entire plan fell apart. Courson’s parents inherited the estate under intestacy laws, and everything from Morrison, including royalties and image rights, was passed to them. Morrison’s parents sued, the families fought, and
the resulting settlement reflected a compromise rather than his original wishes.
The lesson from this messy situation is simple. When we leave assets to a partner, their plan becomes part of ours. If their plan is left incomplete, our estate can end up going to people we don’t even know. A few lines in a well-built plan can prevent that. Naming alternate beneficiaries protects the people we love and keeps everything on the intended path. There were other issues, too. Morrison’s estate included assets that really belonged in a trust with a qualified trustee, rather than a basic will. Morrison started planning earlier than most, but he stopped one step too soon. His story is a reminder to the rest of us that creating a will is not the finish line. A complete plan ensures our wishes are followed, even years after we pass.
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