Month: January 2017
Charitable giving and estate planning
Estate planning often involves deciding what assets go to heirs. However, not all distributions must go to relatives and other close beneficiaries. An estate plan may involve charitable giving, directing a little or substantial amount toward good causes. The key point...
Health care in the estate plan
Under South Carolina intestate succession laws, if someone dies without a will, their assets automatically transfer to the closest relatives. However, there may be interim issues when estate planning for the final days. Many select a power of attorney in case they...
3 ways to handle estranged children in South Carolina
All families experience some level of conflict at times, but in some cases, the strain can be so severe that it leads to a breakdown in communication and estrangement. This is a difficult situation for all involved, and when estate planning becomes part of the...
Using an estate checking account
If you have assets, such as stocks, property and furnishings, it can be helpful to create an estate plan if you want to pass them along to specific beneficiaries after you pass away in South Carolina. An executor will be in charge of distributing your assets during...
A guide to paying estate taxes in South Carolina
South Carolina families that have just lost a loved one have much on their plate. One element many fail to consider are taxes and how they will get paid. What taxes occur after the death of a loved one The Internal Revenue Service (IRS) still needs the decedent's...
Period it takes for beneficiaries to get notified after death
Inheritance in South Carolina is something many people worry about. Determining who should get what and how it should be divided can be stressful. One thing that can ease this process is to know the period it takes for beneficiaries to be notified after a death. The...
Understanding ancillary probate
If you live or own property in South Carolina, your estate will likely be subject to the state's probate laws. However, if you also own property in another state, an ancillary probate proceeding will need to take place within that jurisdiction. Ancillary probate...
Changing your will’s executor: Reasons and ways
Trusting anyone completely is understandably difficult. But you must trust yourself to make the critical choice of choosing someone to oversee your estate when you pass on. An executor, at least 18 and of sound mind, is the individual you, as the testator, appoint to...
How long does the probate process take?
Most South Carolina residents who own any type of asset know the importance of estate planning. However, even the most well-constructed estate plans still go through the probate process. The process varies in length depending on several factors, including what type of...
3 tips for being a good executor
While many South Carolina residents don’t want to think about the passing of a loved one, being an executor is both an honor and a great responsibility. Typically, people creating their estate plans choose a friend or relative whom they completely trust to serve as...