Many South Carolina residents are familiar with trusts, but not everyone understands irrevocable trusts. An irrevocable trust can only be altered or terminated if the beneficiaries consent to the change. The grantor no longer owns the assets in the trust. That might...
If you're looking for a way to protect your assets in South Carolina, an irrevocable life insurance trust (ILIT) might be the solution you need. With an ILIT, a life insurance policy is the asset in this trust. It is understandable to want help when deciding if an...
South Carolina law requires last wills and testaments to be in writing and signed by the testator and two witnesses. The witnesses must have either seen the will signed or been assured by the testator that the signature on the document is genuine. If the testator is...
Estate plans can contain many different documents that address a variety of concerns and responsibilities. While many wealthy South Carolina residents explore the idea, having substantial assets is not a prerequisite. Net worth may not play a factor and a better...
Estate planning often involves making things less costly and complicated for beneficiaries. When drawing up a will, the testator may realize that surviving family members may find probate confusing and time-consuming. To help beneficiaries, a testator may set up...
Many people make the mistake of creating their estate plan and never giving it a second look. However, things can change over the course of a life. If your estate plan doesn’t reflect those changes, it could leave your family in an awkward position after you pass...
Estate planning mistakes in South Carolina can be costly, causing both financial and emotional turmoil for heirs. Unfortunately, these errors are also not uncommon, but being aware of some of the most frequent ones can help you avoid them. The dangers of doing it...
Password serves as keys to all manner of sensitive accounts. That's why so many security experts suggest guarding passwords to prevent unauthorized access by third parties. Even revealing passwords to trusted persons could lead to compromised accounts. Regardless,...
When estate planning in South Carolina, your will is a legal document that will designate who receives your belongings and assets upon your death. You may prefer to list a single beneficiary, or you can list several beneficiaries if you'd like to divide your assets...
An individual in South Carolina may be named as the executor of a will, which is a legal document that specifies how a person's assets will be divided upon his or her death. The document may also include instructions about the care of minor children. Upon a person's...
