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The Cary Connection APRIL 2025
Cary • Raleigh • North Raleigh • Chapel Hill
A New Level of Lasting Wishes Insight Into Letters of Instructions
A typical estate plan may effectively communicate your intentions for the distribution of your assets, but it rarely conveys what your heart wants to say. At Cary Estate Planning, we work with clients to develop documents that state their legacy goals as matter-of-factly as possible. Since estate plans include several legal documents, it’s our job to focus more on the how of a matter than the why . As an unintended consequence of this direction, some of our clients’ loved ones may be intimidated by a plan’s formal structure or confused over why the departed made certain decisions.
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it can help your loved ones proceed with your plans with a more comfortable mindset and reduce potential logistical or emotional burdens along the way. Many clients prefer to write their Letters of Instruction, but you can also express your wishes via video for an even more personal touch. Once your Letter of Instruction is completed, it is imperative to put it — and the rest of your estate plan, for that matter — in a safe and easily accessible place. To that end, Cary Estate Planning is pleased to offer the CEP Secure Client Vault. This online platform allows you to organize and store your essential documents, Letters of Instruction, necessary log-ins, passwords, pet care instructions, and anything else critical to your estate plan. Best of all, this ultra-secure vault enables designated individuals to access the information even if they live far away or cannot perform specific duties in person. Now, with those formalities out of the way, allow me to share a heartfelt message of my own. Everyone at Cary Estate Planning knows how challenging — and emotionally draining — it can be to consider the ins and outs of a plan that will go into effect after you’re gone. We understand the desire to put everything down on record before others are tasked with preserving your legacy. I hope the options I’ve presented in this article have added clarity and direction
That’s where a Letter of Instruction comes in.
Put simply, a Letter of Instruction supplements your plan and serves as a heartfelt conversation with loved ones on paper. It can include personal messages of love, guidance for trustees on how assets should be distributed, details on why a specific asset went to a particular person, where family members can locate key documents, anecdotes from your family history, and more. For example, if you want to explain why Uncle Steve is getting all your fishing poles and equipment, you could include a story in your Letter of Instruction about how the two of you used to go fishing every Sunday as children. It is not a legal document, like a will or trust, but it’s a place to add heartfelt reflections on the spirit that drove the creation of your estate plan. When used alongside a traditional estate plan,
for you, and we are always available and happy to help you update your current plan or create a Letter of Instruction based on these new ideas. We want your wishes fulfilled securely, comfortably, and confidently. Estate planning may be complex — and even painful at times — but you never have to do it alone. -Paul Yokabitus
CaryEstatePlanning.com • 1
Making Sense of Powers of Attorney
Everything You Need to Know
Financial POA: A financial POA is a limited power of attorney specifically focused on managing financial matters. It allows your agent to oversee investments, pay bills, and handle banking responsibilities. Medical (Health Care) POA: Another limited type, medical POAs allow your agent to make health care decisions to ensure your preferences for treatment and care are followed if you cannot make decisions on your own. Springing POA: Springing POAs become effective only upon a specified event, typically your incapacitation. Choosing an Agent The agent you choose will have significant control over your affairs, making it vital to select someone trustworthy and competent. In addition to understanding your values, your agent should be financially responsible and available when needed. It’s also wise
A power of attorney (POA) is a crucial component of estate planning that enables you to appoint someone to manage your financial, legal, or medical affairs. Understanding the different types of POAs and their functions is essential to ensure your wishes are honored and your interests are protected. Types of Power of Attorney General POA: A general power of attorney grants your agent broad authority to handle financial and legal matters on your behalf, including managing bank accounts, signing documents, and conducting real estate transactions. Durable POA: A durable power of attorney is similar to a general POA but remains in effect if you become incapacitated. Limited (Special) POA: Limited POAs only apply to specific tasks or transactions, such as selling property or managing medical care.
to appoint a successor agent to serve as a backup if your primary choice is unable or unwilling to serve. Legal Considerations Each state has its own POA requirements, so consult with an estate planning attorney to ensure your document complies with local laws. Regularly reviewing and updating your POA, especially after significant life events, is also essential to ensure it remains aligned with your current intentions. With the right plan in place, you can have peace of mind that a trusted individual will manage your affairs as you’d like if you cannot.
AFTER A LOVED ONE’S PASSING Essential Financial and Estate Tasks
Gather financial and legal documents. Ideally, you should know where your loved one’s important documents are, but this isn’t always true. They’ll often be in a home safe, in a bank safe deposit box, or with an attorney. Essential documents to gather include their will, life insurance policies, financial records, and property titles. These are crucial for initiating the probate process, if applicable, and managing the estate. Contact an attorney and executor. In addition to helping gather documents, an estate attorney will guide you through probate if needed and ensure legal obligations are filled, debts are settled, and assets are distributed according to the will. The executor will work closely with the estate attorney to complete these tasks and fulfill your loved one’s wishes.
Notify financial institutions. Quickly contacting banks, credit card
Losing a loved one is an emotional experience, but addressing key financial and legal matters to manage their estate effectively is essential. Staying organized and focused during this challenging time will help you handle your loved one’s affairs smoothly and according to their wishes. Secure property and assets. Immediately following your loved one’s death, secure their residence and other property to prevent unauthorized access. If you are concerned about who has keys, such as cleaning companies and home care providers, consider changing the locks. This is also a good time to inventory valuable assets, including jewelry, heirlooms, and important paperwork. Creating an inventory helps identify items before you remove them — and prevents disputes among heirs.
companies, and insurance providers to notify them of the passing will freeze accounts and prevent unauthorized transactions. It will also ensure benefits such as life insurance payouts are correctly processed. Additionally, inform the Social Security Administration and pension offices to stop payments and, if applicable, begin survivor benefits. Settle debts and file taxes. Identify any outstanding debts, such as loans, credit card balances, or utility bills, and arrange to pay them from the estate’s funds. You need to file the deceased’s final federal and state income tax return, and estate taxes may apply depending on state law. Consult a tax professional or an attorney for help if needed to ensure accuracy and peace of mind during this complex process.
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TAKE A BREAK
ARBOR ARIES
BASEBALL CHERRIES CHOCOLATE DAISY DIAMOND FOOLS GARDEN KITE
A Deep Dive Into ‘Old Ironsides’ America’s Invincible Icon
RAINBOW SHOWERS
Some American institutions were built to last.
In 1794, a shipbuilder named Joshua Humphreys earned his status as an American hero by designing the first half-dozen warships used by the U.S. Navy. Amazingly, one of these ships, the USS Constitution, remains commissioned to this day after being used in some of our country’s most significant achievements at sea. The USS Constitution was first commissioned circa 1797 during the Quasi-War with France before being shipped off to North Africa during the U.S. conflict with the Barbary Pirates. However, the ship’s greatest fame came during the War of 1812, when it helped secure a victory against the British Navy. Known for its virtually impenetrable construction, the USS Constitution earned the nickname “Old Ironsides” after it was victorious against a British warship known as the HMS Guerriere. When the war-worn Old Ironsides seemed to be nearing the end of its structural life and would need to be decommissioned in 1830, a national campaign to save the ship kept it in service. By 1881, Old Ironsides finally got its well-earned retirement, and the ship was officially decommissioned. Was that the end of this iconic vessel’s storied history? Not by a long shot! In 1931, the Navy returned the ship to a different kind of active duty, where it remains to this day. These days, Old Ironsides is docked in the Charlestown Navy Yard in Boston, Massachusetts — next to a nonprofit museum dedicated to preserving its incomparable impact on American history. The warship and museum attract hundreds of thousands of visitors annually, and official USS Constitution crew members are on hand to deliver presentations on the frigate’s extraordinary past. More than 200 years after it first left Boston Harbor, Old Ironsides continues to stand (or, more accurately, float ) as a symbol of American ingenuity and our nation’s commitment to liberty and freedom for all.
Lemon Garlic Butter Chicken
Inspired by DietDoctor.com
Ingredients
• 4 chicken thighs, bone-in, skin-on • Salt and pepper, to taste • 2 tbsp olive oil • 2 tbsp unsalted butter • 2 cloves garlic, minced
• 1/4 cup low-sodium chicken broth • 2 tbsp heavy cream • 1 lemon, zest and juice • 2 tbsp chopped parsley, for garnish
Directions 1. Preheat oven to 400 F and season chicken with salt and pepper. 2. Heat olive oil in an oven-proof skillet over medium heat. Sear chicken skin-side down until crispy, about 5 minutes. Flip and cook 2 more minutes; remove from skillet and set aside. 3. Melt butter in skillet, then sauté garlic until fragrant. Add broth, cream, lemon juice, and zest. Simmer for 3 minutes. 4. Return chicken to skillet, spoon sauce over, and bake in oven for 15–20 minutes or until cooked through (165 F internal temperature). Garnish with parsley before serving.
CaryEstatePlanning.com • 3
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Cary • Raleigh • North Raleigh • Chapel Hill 1255 Crescent Green, Suite 200, Cary, NC 27518 919-726-0896 • www.caryestateplanning.com
Inside This Issue
The Personal Touch in Estate Planning
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A Simple Guide to Powers of Attorney
Steps to Handle a Loved One’s Estate
Lemon Garlic Butter Chicken
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A Naval Legend Lives On
When Your Diary Becomes Evidence
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Dear Diary, Please Don’t Be Used Against Me in Court
Many of us have fond memories of writing in diaries or journals throughout our youth. We would share our thoughts and feelings in a book we would keep hidden from friends, family members, and others. It was our sanctuary where we could be ourselves without worrying about judgment or embarrassment. You may even remember the feeling of rage or hopelessness when you spotted your brother or sister holding your diary. Thankfully, there usually wasn’t anything too incriminating in our teenage diaries, and some of us have continued the practice well into adulthood. However, a recent news story proves we should be cautious about the information we share in our private journals. Last year, a Minnesota woman was arrested for auto theft. While investigating the incident and looking into Vanessa Guerra, a suspect in the case, a law
enforcement officer allegedly found her diary. He flipped through the pages, looking for any information that would catch his eye, when he stumbled upon an entry from Aug. 12, the same day a 2004 Ford Freestar van was stolen and resold at an auto salvage business. “Totally stole a car today! Something I never thought of doing,” Guerra allegedly wrote in her diary. Guerra was charged with receiving stolen property and theft, although she claims she didn’t know the vehicle was stolen. However, workers at the auto salvage business informed law enforcement they recognized Guerra as the seller of the stolen vehicle. Most people will probably not blab to others about crimes they have committed, especially if they are currently unsolved.
This case reminds us to be just as cautious about what we write in private journals. While your diary may be your safe place to share your innermost thoughts and feelings, your entries could come back to haunt you if you’re involved in a criminal case, especially if you blatantly admit to the crime.
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