Many Myrtle Beach area families have a child with special needs. These families understand the hardship and stress that goes along with having a special needs child. Families with special needs children must understand the importance of having an estate plan and how critical it is for their child's future.
When a Myrtle Beach couple gets married, they assume their marriage will last forever. There are marriages that last decades, but there are also many that end in divorce. However, even if a person's first marriage ends in divorce, they often take the chance on a second marriage later on. There are certain estate planning measures that a person should recognize when they get married for a second time.
Most Myrtle Beach area residents understand the importance of estate planning. There are many benefits to creating an estate plan: asset preservation, communicating health care wishes, charitable giving, among many others. If a Myrtle Beach area family hasn't created an estate plan there are certain mistakes they should keep in mind and try to avoid.
There are many Myrtle Beach area residents who own their own businesses. Many of these are family businesses that have been in the family for generations or whose owners hope they will be in the family for many years to come. Business succession planning is important for these companies to make sure there is a plan in place.
Myrtle Beach area residents understand the importance of estate planning. But, estate planning is often placed on the back burner for many reasons. When a Myrtle Beach area resident finally takes the time to tackle their family's estate planning, they may think a will is sufficient for their needs. They may be surprised to learn that a trust may also be necessary.
Almost everyone in the Myrtle Beach area has some sort of digital presence. Whether a person has online bank accounts, amazon prime memberships, or social media accounts, it's hard to avoid a digital presence of some sort. When a person thinks about estate planning, wills and trusts are the typical things that come to mind. But digital estate planning is also something that needs to be considered.
Most people in the Myrtle Beach area have accounts that list beneficiaries. When these financial accounts are set up they often need to designate a beneficiary. This is usually done but may not be reviewed ever again. Not reviewing a financial account's beneficiaries can be a major problem in a person's estate plans.
Estate planning is a process that is unique for everyone. Although many in the Myrtle Beach area may not have children, that does not mean that they shouldn't have an estate plan. There are many reasons why a person needs an estate plan, even if children are not in their lives.
Many Myrtle Beach area families are not traditional. Some first marriages end in divorce and don't always last forever. But, these couples may go on to marry someone else, bringing a complex situation to estate planning.
As many Myrtle Beach residents know, estate planning is not just wills and trusts. There are many aspects of estate planning that a person needs to consider. One of these is creating a power of attorney, which is something that can be used when a person is still alive.