Month: July 2020
4 basic types of trusts in South Carolina
Trusts are a commonly-used estate planning tool that can help you pass on your assets to your loved ones in a tax-efficient manner. There are many different types of trusts, each with its own set of benefits and drawbacks. Here are the four basic types of trusts in...
What to know about estate planning
Many people delay estate planning because it can be daunting to think about one's own demise. However, it is important for anyone with investments or any type of valuable property to plan for the future. If you're a South Carolina resident, here are some important...
What Assets Must Be Listed for Probate?
Preparing your South Carolina estate doesn't have to be hard. If you play your cards right, you might be able to plan your estate in a short amount of time. The key will be to list all assets in the correct manner and order of precedence. Your lawyer can help you...
Top estate planning mistakes to avoid
For South Carolina residents who are worrying about estate planning, there are a lot of things to keep track of as well as mistakes to avoid. Correct estate planning can protect wealth as well as reduce stress for the family. What to consider when estate planning...
Special needs trusts
Estate planning involves the arrangement, management and eventual distribution of assets over someone's lifetime, particularly to create favorable outcomes should they become incapacitated or die. While most people in South Carolina only need to use basic legal...
What to know about a pet trust
In the state of South Carolina, pets are generally considered to be property. Therefore, if you don't include them in your estate plan, there is no guarantee that they will be properly cared for after your passing. One way to ensure that your furry friends have a good...
Estate planning and retirement accounts
Estate planning is one of the most important kinds of financial planning for South Carolina couples. When there are special retirement accounts involved, the tax rules make it much more complicated to figure out the best way to preserve the accumulated wealth. How to...
Why you should update your will in 2022
Wills are a powerful estate planning tool for many South Carolina residents. They tell people what you want to happen to your belongings after you die and in a lot of cases, can ease the burden on your loved ones. However, this is only true if you remember to update...
Why are letters testamentary part of probate?
Your loved one has passed away, and now comes the process of going through probate in South Carolina to distribute assets to the heirs. You may have thought you understood the probate process, but now you face getting letters testamentary before you can do anything...
Do you need to go through the probate process?
Probate is the process of transferring assets from the estate holder to their beneficiaries. In South Carolina, you are required by law to deliver a person's will to the probate court within 30 days of the decedent's passing. Here are a few tips to let you know if you...