Month: July 2020
Three reasons why it’s best to avoid the probate process
After someone passes away, there are often many tasks to accomplish involving this person's estate. South Carolina has probate courts to verify residents' wills and manage any of their remaining liabilities. There's nothing inherently wrong with the probate process,...
Wills and trusts serve different purposes
One of the first questions some South Carolina residents may have about estate planning is what is the difference between a will and a trust? They are not interchangeable documents, but they are often used in conjunction with each other. A will is public and essential...
Which assets are easy to forget to include in a will?
In South Carolina, one of the most important aspects of estate planning is making sure that your will includes all your assets. Unfortunately, many people forget to include valuable assets in their will, which can lead to problems with succession, including family...
Does a will always have to be probated?
Losing a loved one is difficult, and the last thing families want to deal with at a time like this is a complicated legal process to settle an estate. In South Carolina, most estates must pass through probate court in order to be settled. However, there are a few...
Certificates of deposit and inheritance
In estate planning for South Carolina families, it is usually a good idea to keep assets out of the probate process. Probate is a slow and sometimes expensive court procedure for distributing assets from a person's estate to their heirs, and shielding assets from...
Using an AB trust to save on taxes
There are plenty of methods that you can adopt to save on taxes. One of the best will be an AB trust. This type of trust is perfect for the needs of South Carolina married couples. You can use it to maximize your federal real estate exemptions. This will let you pass...
Two forms of special needs trusts
The special needs trust is a great tool for people in South Carolina who are concerned about the future financial health of their children or other relatives. It is a way to provide them with funds without interfering with their benefits. Special Needs Trusts Types...
Reviving a will in South Carolina
When a person dies, their will goes into effect only if it meets the state requirements. However, if a will is invalid in South Carolina, there is a process called revival that you could use to bring it back to life. Understanding will revival in SC Will revival is...
Common mistakes people make with their estate plan
Preparing your South Carolina estate plan is important for your future. However, there are certain mistakes that are commonly made with estate planning. Not planning at all The biggest mistake you can make is to not plan for your future at all. Not having an estate...
How long does the probate process take?
South Carolina residents who recently lost a loved one might have to wait for probate to take place. An estate goes through probate regardless of whether there was a will. What is probate? Probate is a legal process that settles a person's estate with court...