How much does estate planning cost for high income earners in Raleigh?

A comprehensive estate plan for a high-income family typically costs $2,500 to $5,000 for a revocable living trust package. Irrevocable trusts add $3,500 to $10,000 depending on complexity. These costs should be weighed against probate costs ($5,000 to $15,000 or more), potential estate taxes (40% on amounts above the exemption), and the income tax cost to beneficiaries under the SECURE Act's 10-year rule.

Is a will enough for a high income earner in North Carolina?

In most cases, no. A will goes through probate, creates a public record, and offers no protection during incapacity. For high-income professionals in Raleigh, a revocable living trust provides probate avoidance, privacy, incapacity planning, and distribution control that a will alone cannot match.

Do I need an estate plan if my estate is under the $15 million exemption?

Yes. Estate planning is not just about estate taxes. It covers probate avoidance, asset protection, SECURE Act planning for retirement accounts, incapacity planning, and making sure your family is protected regardless of family structure.

Intestate succession (NCGS Chapter 29)

Mar 16

Written By Jenaye Merida

Intestate succession is the statutory process by which North Carolina distributes a deceased person’s assets when that person dies without a valid will (known as dying “intestate”).

NCGS Chapter 29 establishes a fixed order of inheritance based on family relationships, giving priority to surviving spouses and children, followed by parents and more distant relatives.

A key distinction is that intestacy rules apply only to probate assets. Non-probate assets such as retirement accounts with named beneficiaries, life insurance proceeds, and jointly held property pass outside intestate succession regardless of whether a will exists.

Key details

Under NCGS §29-14, if a decedent is survived by a spouse and one child (or that child’s descendants), the surviving spouse receives the first $60,000 of personal property plus one-half of the remaining estate.
Under NCGS §29-15, if a decedent is survived by a spouse and two or more children (or their descendants), the surviving spouse receives the first $60,000 of personal property plus one-third of the remaining estate.
North Carolina intestacy law does not recognize unmarried partners, stepchildren, or close friends as heirs. Only legally recognized family relationships determine inheritance.
If a decedent dies with no surviving spouse and no descendants, NCGS §29-15 directs assets to parents, then siblings, then more distant relatives in a statutory order.
Intestate estates must still pass through probate, and the Clerk of Superior Court appoints an administrator (rather than an executor named in a will) to manage the process.

According to North Carolina General Statutes Chapter 29 (Intestate Succession), which defines the statutory distribution hierarchy for estates without valid wills.

For a detailed analysis of how intestacy rules affect blended families in North Carolina, including scenario mapping for stepchildren and unmarried partners, see intestacy and blended families in North Carolina.

To understand the full probate process that intestate estates must follow, see probate in North Carolina.

For the complete estate planning guide for high-income Raleigh professionals, see estate planning for high income earners in Raleigh, North Carolina.

Jenaye Merida https://jenayemerida.com

Intestate succession (NCGS Chapter 29)

Key details

Related pages

Federal estate tax exemption

Probate (North Carolina)