Call Today 843-548-0157
The Nelson Law Firm
South Carolina Tax Law Attorney

Living trusts can protect assets as part of an estate

Is it time to plan your estate? If you can wonder whether or not you should, it's probably time to do it. Anyone with a family, a job, causes to support or any other connection in life wants to know that these valued people and entities are getting what you want them to have.

A trust is a good way to protect specific assets, especially when they are of high value like heirloom properties and other real estate. A living trust can transfer these assets to other people during your lifetime while you continue to use or have access to them. This can save taxes and troubles after a previous owner dies.

Stocks and other financial instruments or rights are eligible for inclusion in a living trust. An important exception is retirement accounts and pensions, although the holders of these assets have the power to name the person or organization that would receive any benefits in them.

If you think you may change your mind about a trust later, a revocable living trust may be the best option. Creators of these trusts can change the terms or recipients included in them, or cancel the arrangement entirely. Taxes and other responsibilities may still apply.

An attorney is often the best person to ask when it's time to consider a living trust. Legal representation makes it far easier to file the appropriate paperwork in South Carolina as well as inventory the assets that should be included in a trust. No one should have to plan an estate without the right assistance in court.

No Comments

Leave a comment
Comment Information

Contact The Firm - Or Email Me at [email protected]

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy