4701 Oleander Drive, Suite A
Myrtle Beach, SC 29577
It may seem strange to think about the end of your life, but it is an important process. By outlining what will happen with your assets after you pass, you can help to set your family and future generations up for success. What’s more, you can have control over your hard-earned assets through the estate planning process.
It is important to understand your options when it comes to estate planning. Wills are just the beginning of what you can do to pass your assets along. With the help of an SC estate planning lawyer, you can organize your assets in a way that benefits you now and will benefit your family after you are gone.
Our SC estate planning attorneys at Axelrod & Associates help our clients to create estate plans that are tailored to our clients’ unique situations and needs.
From simple wills to complex estate plans to probate administration, your SC probate lawyer at Axelrod & Associates will work with you and your advisors to protect your interests and ensure that your loved ones are taken care of after you are gone.
Estate planning law can be very complicated. If you attempt to set up your estate on your own, there is a high likelihood that it will be invalidated in probate court. Every small detail must be perfect, or the court may be unable to properly distribute your assets. To ensure that the correct beneficiaries inherit your estate, you must find an attorney that you trust.
We offer comprehensive estate planning solutions that include:
Many estate plans involve combinations of the services listed above, and your individual plan is crafted after careful consultation with you, possibly your spouse, and any advisors such as your accountant, financial planner, or other professionals who have assisted you with wealth management.
Your comprehensive estate plan must also take into consideration the potential effects of estate taxes, gift taxes, and generation skipping transfer taxes.
Everyone needs to prepare for the unexpected to ensure that your possessions, your businesses, and your family are taken care of after you are gone.
Your possessions will pass to someone – the only question is whether you decide how it is done or if the state decides for you…
For some people, this means drafting and executing a simple will that specifies what happens to your possessions and who will oversee the probate process. For others, a comprehensive estate plan is needed that may include the creation of wills and trusts, different types of powers of attorney, titling your assets in a way that ensures a smooth transition, or taking steps to ensure that your business or businesses survive and continue to grow.
Depending on your situation and your wishes, your estate plan may include the creation of one or more different kinds of trusts like testamentary trusts, irrevocable trusts, or revocable living trusts. If you have a dependent with special needs, a special needs trust can be created to continue meeting their needs without jeopardizing any government benefits that they receive.
Your businesses need to be accounted for in your estate plan – a successful business could continue to provide for your family, or it could fall apart when you are gone. Ensuring that your business is set up properly, that business partners or stakeholders will not be able to interfere in the probate process, and that operating agreements are properly drafted can make the difference in whether a successful business continues to grow and provide for your family after you are gone.
It is never too early to begin estate planning. Once you own significant assets such as a home, property, stocks, savings, etc., you should at least have a will to outline the beneficiaries of these assets. You should also have a will if you have children, regardless of what assets you possess. However, estate planning includes many options beyond wills, and the sooner you begin to explore those options, the more helpful it will be for your beneficiaries.
An estate planning attorney can help you understand all your options. Estate planning tools such as trusts can be difficult to grasp and even more difficult to execute properly. With the help of an attorney, you can be sure that your estate is organized in the best way possible and that you have organized it properly. Without the help of an attorney, your will or estate documents may be invalidated during probate, or there may be issues with executing them.
No. You can technically create wills, trusts, and other estate documents without the help of an attorney. However, it is not advisable to do so. To protect your assets, your beneficiaries, and your family, it is best to use a professional estate planning attorney throughout your estate planning process. This way, you can feel confident that your hard-earned assets will go where you want them to go.
Anyone with a legitimate financial interest in the matter can contest a South Carolina will. The law often calls these individuals “interested parties.” This means that individuals who have nothing to gain or lose by contesting the will have no grounds to do so. Generally, contesting a will only happens when an individual believes that they have been given too little or have been unfairly omitted from the list of beneficiaries.
If you do not have an estate plan in place, or if you need to review, update, or improve an existing estate plan, call your estate planning and probate attorney at Axelrod & Associates today at 843-916-9300 or complete our contact form to set up an initial consultation.
The fields marked with * are mandatory.