Although we do not live to see the results, a last will and testament is often a reflection of our most important decisions in life. We work hard to earn and maintain our assets throughout our lifetimes, and we want to know that these things will help and comfort the people or the institutions we love.
There are a lot of things in life that we never get around to doing. As we age, we often acknowledge that the time to do something and enjoy it has probably passed. But one thing never goes out of style, and often becomes more relevant as we get older and wealthier.
Who can you trust in a life or death situation?
Many legal analysts recommend that individuals not hold off in drafting their wills until they're advanced in age. It's common for people to do so, though. Many would-be testators wait until they're about to retire to draft their wills. They then often pick up and move to another state. What many of these retirees don't stop and take time to do when they get settled in their new home is to revisit their wills. It's critical that they do so, though.
When it comes to estate planning, no one wants to waste time but no one wants to get things wrong. Although the disposition of properties and assets at the end of life may not be the most important decision, it is one of the most lasting we will ever make.
Life can be simpler in South Carolina than many other places, but that does not mean that death is simpler as well. The passing of a person is always sad, but it can also be complicated for families and other people left behind if the person left no will. This is why adults of all ages should consider the security brought with a good estate plan.
Ideally, South Carolina residents and others will develop and refine an estate plan that meets their current and future needs. In many cases, a plan will need to be reviewed and updated as life events such as a divorce or a death in the family take place. One of the primary mistakes a person can make when it comes to managing their assets is not having a plan at all.
Audiences in South Carolina and elsewhere have been flocking to the movies to see the film "Knives Out," a creative take on a classic murder mystery featuring a cast packed with stars. The film has earned over $70 million at the box office with its take on the investigation of the death of an elderly, wealthy man. However, after people are done enjoying the film, they may wonder how closely the estate planning issues depicted in the movie compare to real-life concerns. The plot of the film involves determining who was responsible for a man's death as well as how his assets should be distributed.
The online lives of people in South Carolina often create digital assets. An estate plan that does not describe how to access digital assets might leave the executor of an estate and heirs permanently disconnected from the digital estate.
Many estate owners in South Carolina have heard that they should have a living will. However, they may not be fully clear about what this document represents. A living will is also called an advance health care directive. This document provides specific details about how a person's health care needs should be addressed if he or she is incapacitated and unable to make decisions about treatment. It can be a complex and emotionally challenging process to draft a living will because people will need to consider difficult topics about death or serious illness throughout the process.