I would recommend a trust with a trustee who is not your spouse, but someone who will take care of your son's finances until he's old enough to handle your estate.
In NC, your husband may elect life rights in the home.
Please seek legal counsel to create the correct estate plan.
The trust will be part of your future estate plan, but first I would recommend discussing your investment strategies and goals with a certified financial planner. The planner will be able to work with you to make sure the your money is invested to accomplish your personal goals. Estate planning should be part of this strategy and a trust may be the answer or it may not. Seeking the advice of an estate planning attorney will be an important part of your plan, but the money your receiving should...
There isn't enough information to make a determination. Usually, the money from the sale of the house is a trust asset. However, if the money has been used or wasn't titled in the trust and if the trust is revocable and there isn't anything in the estate or trust at mom's death, then it's likely having the trust won't be of consequence.
I highly recommend you see an attorney skilled in trusts.
The beneficiary designation trumps the language in the will. Even if it was your dad's intent that you receive this money as individuals, since the estate was listed as the beneficiary on the actual IRA, the IRA became a probate asset. Instead of being able to take the money incrementally over your lifetimes, the payout will be immediate, causing unwanted tax consequences.
Your dad is not alone in making this error. Everyone reading this needs to check their IRA beneficiaries. I've seen money...
Depending on how the deed is titled and whether Powers of Attorney with the proper language are in place or if not, are still able to be executed, in NC there may be a way to save the land which has been in the family 150 years.
If you want to make sure everything goes to your son and grandson you need either a will or a trust. Otherwise, under NC law without these documents it is likely that all of your assets will be divided between both of your children.