Month: July 2020
The benefit of placing contingencies on your trust
Do you have a loved one in South Carolina you would like to leave something to when you die, but you worry they will squander their inheritance due to young age, poor money management or substance abuse? Or perhaps you want to leave a loved one an inheritance, but you...
When should I update an estate plan?
Knowing when to update an estate plan is an important part of the estate planning process. Estate planners should keep in mind to regularly review their estate plan, however, they should also be familiar with certain situations, circumstances and times when they...
Don’t overlook your digital assets in estate planning
Our lives are becoming more digitized everyday. While that fact has provided a significant amount of convenience, it has also created a fair number of problems. This is especially true when it comes to estate planning. Some people think that only rare assets like...
Comparing a living will with a health care power of attorney
For South Carolina residents who are thinking about the future, there are parts of an estate plan that might not come immediately to mind like a will or a trust, but they address certain inevitabilities and potential challenges. Health care decision are critical....
How can I talk to my parents about estate planning?
A lot of people put off estate planning, but they do so to the detriment of their loved ones. If you’re afraid that your parents aren’t taking estate planning as seriously as they should, then you might wondering what you can do to help spur them into action. It’s an...
What if a revocable trust conflicts with a will?
The goal of estate planning is to ensure that all parts of that plan work together smoothly. This could include a revocable trust -- also called a living trust -- and a will. Unfortunately, though, that doesn't always happen. So, if there is a conflict between the two...
How should you leave money to the grandkids?
As you begin to consider your will and estate plan, you know that leaving money to your grandchildren is your main goal. Your adult children are doing fine. You want your grandkids to have a great chance of success. How should you leave them the money?The easiest way...
A will isn’t the only way to leave an inheritance
A will is the most common way to leave an inheritance behind, and it's very important to have one. It can be complex or as simple as splitting your assets evenly among all of your heirs. It's up to you. But a will isn't the only option that you have.There are a lot of...
An incentive trust creates a conditional inheritance
Many times, an inheritance comes without conditions. If you put someone in your will and leave them $100,000, they simply get that money when you pass away. All that matters to the estate executor is finding the right person and distributing the funds. However, you...
You need to add your pet to your will
Odds are that you do not think of your pet as property but as a family member. You love them, you care for them and you may not consider them on the same level as your children, but it's close. Pets do not feel like "something" that you own, not in the same way that...