Butler Law

Posts tagged "Estate Planning"

An Alzheimer's diagnosis and estate planning

When a Myrtle Beach area family receives the devastating news that their loved one has Alzheimer's disease it is an emotional time. There are many uncertainties surrounding Alzheimer's including how the progression will affect their loved one, who will take care of their loved one and how their loved one's assets can be protected. Estate planning when there is an Alzheimer's diagnosis is crucial.

Florida Fiduciary Access to Digital Assets Act

In this day and age, it is nearly impossible for a Myrtle Beach resident to not have an online presence. Digital assets have fast become an important part of an estate plan. When a person passes away, it can be difficult for the family to access these online accounts. The Florida Fiduciary Access to Digital Assets Act is legislation that residents may want to be aware of.

Estate planning for families with special needs children

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.

Planning for a second marriage

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.

6 estate planning mistakes a Myrtle Beach resident should avoid

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.

Business succession planning

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.

Reasons why a person may need a trust

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.

Digital presence needs to be protected

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.

Reviewing beneficiaries should be done periodically

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.

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