4701 Oleander Drive, Suite A
Myrtle Beach, SC 29577
Trusts can be an invaluable tool for estate planning and for asset protection in SC.
Your probate and estate planning attorney at Axelrod and Associates can help you to determine whether a trust will accomplish your goals, what type of trust is most appropriate for your situation, and how to administer the trust to comply with SC law and protect the beneficiaries.
There are many different types of trusts that we can create depending on your goals, needs, and your unique situation. Some examples of trusts that we use in our clients’ estates or asset protection plans include:
There are many different types of trusts in addition to the above descriptions, like spendthrift trusts and special needs trusts, and each of the different “types” of trusts can be seen more as “characteristics” of trusts that, in many cases, can be combined to create a trust that accomplishes your goals.
Every trust must be managed and there are usually costs associated with trust administration. A third party who manages a trust for its beneficiaries is called a “fiduciary” which means that they are administering the trust for the benefit of someone else, and they have a legal duty to act in the best interests of the beneficiaries.
A trustee’s obligations and responsibilities may include:
Your probate and estate planning lawyer at Axelrod and Associates will help you to decide what type (or combination) of trusts are best to achieve your goals and how the trust will be administered.
If you have questions about trusts and how they can fit into a comprehensive estate plan – or – how trusts can be used to protect your assets, call an estate planning and asset protection attorney at Axelrod and Associates today at 843-916-9300 or complete our contact form to set up an initial consultation.