Many people designate a number of their accounts to “transfer on death” (TOD) to their chosen beneficiaries. On some types of accounts, like retirement accounts, a beneficiary designation does the same thing. You simply name one or more people to be beneficiaries of...
Estate plans reflect someone's wishes for their legacy and how they hope to provide for their loved ones after they die. The courts generally do their best to uphold the estate plan left behind by someone. However, there are situations in which people can go to the...
As the executor of someone's will, it is not your job to give opinions on the rights or wrongs of the deceased’s wishes or try to correct things you see as unfair. Your role is to merely carry out the wishes laid out in their will. What do you do, however, if someone...
Property owners in South Carolina may want to consider preparing an estate plan if they do not have one already. An estate plan can include a will or a trust, both of which are used to pass assets and property on to beneficiaries. Trusts offer some benefits that wills...
South Carolina residents and others are encouraged to examine their beneficiary designations on a regular basis. Doing so may help to ensure that assets go to a close friend, family member or preferred charitable cause as opposed to going to an ex-spouse or estranged...
While making an estate plan is an important step for people in South Carolina, keeping that estate plan updated is just as important. For example, an estate should be updated each time a person has a new child. A will can name a guardian for a child as well as a...
Some people who are creating an estate plan may want to consider an asset protection trust. An APT may be a revocable living trust or an irrevocable trust. Irrevocable trusts might be foreign or domestic. While South Carolina does not allow domestic APTs, there may be...
Those who are planning their estates must make sure that their plans are correct and mistake-free. If there are any errors, it can have ramifications for beneficiaries and relatives who are left to deal with the fallout. Probate and estate litigation are difficult and...
South Carolina residents who are going through the estate planning process will want to know the best ways to leave an inheritance to loved ones. Taxes, lawsuits and divorces can force a child or grandchild to give up the majority of the money left to them. However,...
It's common for people to feel uncomfortable when thinking about the end of their lives. However, estate planning can make the end of life easier and provide valuable assistance to loved ones. There are several mistakes to avoid when trying to plan for the future of...
