Month: July 2020
3 tips for being a good executor
While many South Carolina residents don’t want to think about the passing of a loved one, being an executor is both an honor and a great responsibility. Typically, people creating their estate plans choose a friend or relative whom they completely trust to serve as...
Overview of different types of trusts
For some people, creating a trust might be a better way for them to accomplish their estate goals than simply writing a basic will. Trusts can be used to accomplish a broad variety of different purposes, including the avoidance of South Carolina probate, minimizing...
How an Asset Protection Trust (APT) protects your financial future
Protecting your assets from financial risks in South Carolina becomes increasingly necessary as you accumulate wealth. A legal instrument called an Asset Protection Trust (APT) can safeguard your wealth from creditors, lawsuits and other financial threats to ensure...
What is probate in South Carolina?
South Carolina residents have probably heard of the term “probate” or “probate court” before. But you might not know what probate is until you’re planning your estate or trying to manage a loved one's affairs. Probate refers to the legal process used to transfer...
Should you choose trusts or wills for your estate planning?
Proper estate planning in South Carolina often involves both wills and trusts. Follow these tips to determine which works best for your assets and heirs. Purpose of wills When you discuss wills for estate planning, you should distinguish whether you mean the last will...
Going through probate without a will in South Carolina
Although you may not want to consider estate planning, failing to make plans for your estate may negatively impact your loved ones. Specifically, if you do not leave a will, your estate becomes subject to intestate succession laws in South Carolina. This makes the...
When can a trust be contested in South Carolina?
Trusts can be a great estate planning tool for South Carolina residents. Trusts can give a person more control over how their assets are passed down and the terms and conditions that beneficiaries must meet. It’s not entirely uncommon for beneficiaries to disagree...
Bringing up sensitive estate topics with your parents
Although it's not always the easiest conversation to have, there are excellent reasons adult children in Bluffton, South Carolina, should talk to their parents about estate planning. Starting the conversation can give family members peace of mind. How to start the...
Choosing the right type of trust for your goals
South Carolina residents have a variety of trust options for estate planning purposes. Trusts offer several benefits, such as asset protection, tax savings, and control over how and when assets are distributed. However, selecting the right trust depends on your...
What should you prioritize in South Carolina estate planning?
Estate planning allows you to make decisions about the transference of assets. These assets typically go to your loved ones after you die, and proper estate planning makes your wishes known. You can also include plans for your estate if you become incapacitated. While...