Legal Glossary

Plain-language definitions of legal terms referenced throughout our guides. Click any term for the full definition with North Carolina statutes and citations.

Estate Planning

Federal Estate Tax Exemption

The total value of assets you can transfer at death without federal estate tax. As of 2026, the exemption is $15 million per individual.

Intestate Succession (NCGS Chapter 29)

How North Carolina distributes your assets if you die without a valid will. The state decides who inherits and in what order.

Probate (North Carolina)

The court-supervised process of validating a will, settling debts, and distributing assets after death. Governed by NCGS Chapter 28A.

Revocable vs. Irrevocable Trust

A revocable trust can be changed or cancelled during your lifetime. An irrevocable trust generally cannot. Both are governed by NCGS Chapter 36C.