Month: July 2020
What is a durable power of attorney?
Estate planning for South Carolina residents often focuses on what happens to a person’s property and assets when they die. However, there is a difficult period of time that some families go through where a loved one is still alive but incapacitated due to injury or...
Business owners need an estate plan
An estate plan is important for a parent, business owner, or anyone with assets and sentimental property they want to pass on to their family or friends after they die. Business owners should also have a plan which addresses issues such as business continuity. Estate...
Even the unmarried and childless can benefit from estate planning
Whether you are single and childless by choice or simply have not found the right “one” yet one topic that may not be on your radar is estate planning. This may especially true if you do not have children or a spouse. Still, there are good reasons why the unmarried...
What is a “will contest”?
When most South Carolinians sign their will, they assume that its words will be given the meaning that was intended when the will was signed. While almost 100% of wills signed in South Carolina pass through probate without challenge, the validity of a few wills is...
Understanding how probate affects the estate
Probate is essentially the legal process for closing out the estate of a deceased person according to state law. This process will include the verifying of the will, the formal or informal administration of the estate which includes inventorying assets and paying...
What needs to be included to ensure a will is valid
A will is important for estate planners to distribute their property and assets and can also leave a legacy and care and provide for their family members. Estate planners preparing their will should be familiar with what should they need to do to ensure their will is...
The advantages of a living trust
When most people think of estate planning, a will is the first thing that comes to mind. Although wills are useful, they are one of many different kinds of estate planning tools. A will may be suitable for some people, but others may require a different means of...
Coordinating nonprobate assets is good estate planning
Many of those who live around Hilton Head Island or who visit regularly from other parts of South Carolina may not realize how they have already take many steps to avoid having their assets go through probate after their deaths. Even people with relatively modest...
What do LGBTQ+ families need to know about estate planning?
To be clear, every person reading this post right now should have an estate plan. Full stop. Though, for LGBTQ+ families, this estate planning need can be critical, especially as LGBTQ+ families are more likely to be unmarried and have children with a biological...
The benefits of having a trust
There are different estate planning tools to help estate planners through the estate planning process. Trusts are a sometimes misunderstood estate planning tool that are not only for the wealthy. All estate planners should understand how they can benefit from having a...