I just wanted to add, in case anyone with a case in NC needed to know, that NC works exactly the same way.
TPR's also terminate all current and future child support. Arrears will always be owed, unless they are owed to the CP and the CP chooses to forgive them. TPR's are permanent, as if you were never the child's parent. (I always thought that was self explanatory.)
There is a small window of time to change your mind on a voluntary TPR, I believe it's 10 days here.
In NC, most judges will not agree to a TPR unless social services is doing it or an adoption is taking place. Not to say a TPR can't happen without an adoption or DSS being involved because it can, just not normally. It was explained to me that the reason judges are reluctant to sign TPR's without an adoption or DSS being involved is because it is a money issue. The state wants to make sure that if the child ever goes on any type of welfare that they have someone to go after to pay it back. (Which is exactly what I had already thought.)
Also, NC is the same as in there doesn't need to be any grounds for voluntary relinquishment for parental rights but there does for involuntary. Like I said, they really don't want to sign unless there is an adoption or DSS is pushing it. The grounds have to be proven and the parent who the action is against can fight it, naturally.
A child can still inherit here as well, unless there is an adoption. Once the adoption is final, they would inherit from the person who adopted them, not the biological parent whose rights were terminated.