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

Terms matter when you are writing a trust

South Carolina law allows people with assets to create trusts that protect them. A trust can have many functions, such as conferring ownership of homes and other valuable properties to people before they would be included in a will. They can also protect the value in assets for future generations and benevolent causes.

The beneficiary is perhaps the most important part of a trust, as this person or organization is more or less the reason that a trust exists. This entity has a vested interest in the trust and the value contained in it, either now or in the future based on the terms of a trust.

A conservator is the person seen by a South Carolina trust to administer the trust. The court may appoint a conservator or one may be requested by the creator of a trust. This person cannot have a vested interest in the trust, as this would be seen as a conflict of interest.

Property is anything that may be included legally in a trust in the Palmetto State, such as real estate that is outright owned by the person creating a trust. It may also include any new value that assets accrue while in a trust.

The creator, beneficiary or conservator of a trust may need legal help at some point during the lifetime of a trust. Attorneys can help create a trust that accomplishes the right goals as well as help sort out interests in one. A lawyer may also help create trusts with different options, such as revocability or availability to beneficiaries as they age.

No Comments

Leave a comment
Comment Information

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

Bold labels are required.

Contact Information
disclaimer.

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.

close

Privacy Policy