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July 2019 Archives

The role of a trust in estate planning

A trust may be a better choice than a will for some South Carolina residents. It can offer a number of advantages over a will, including more privacy since a trust does not have to go through probate. A trust can protect an estate from taxes, provide charitable contributions and protect assets from an irresponsible beneficiary as well as from creditors and divorce. A trust can provide for a spouse but ensure that children receive assets if the spouse remarries. It can allow assets to be left for a beneficiary with special needs without affecting that beneficiary's receipt of government benefits.

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