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The Nelson Law Firm
South Carolina Tax Law Attorney

September 2018 Archives

A business owner needs an estate plan more than most

When people die without executing a legal will or trust, control over what happens to their estate is relinquished. South Carolina has its own laws, as do all of the states, for what is known as intestate succession. Distribution of assets of the estate follows the statutory scheme without regard to the decedent's wishes.

How to make a better estate plan

Estate owners in South Carolina have many options when it comes to wills and trusts. In some cases, they will choose to leave a portion of their assets to charity and a portion to their children. If a person chooses to structure their estate plan in such a fashion, it is important to consider the tax implications of how assets are actually transferred.

Why it is important to have an estate plan

South Carolina fans of the musician Prince might know that he did not have a will, and as a result, his estate has been tied up in probate. Aretha Franklin has also died without an estate plan. According to one of her attorneys, he urged her to make one but she simply did not get around to it.

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