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.
Most families in Myrtle Beach understand that life isn't always perfect and that there are challenges that can arise at any time. Even with the most thorough planning, circumstances can change that affect a person's goals. An estate plan that is able to adapt to life's challenges can be a gift to a family.
Many Myrtle Beach area residents have taken the time to create an estate plan. This is an important step in ensuring a person's wishes are followed upon their death. But just because an estate plan has been created does not mean that's the end of it. An estate plan needs to be regularly reviewed and updated.
Many people in Florida have moved from another state. Whether for retirement to a warmer climate or for job opportunities, there are many reasons why Florida attracts new residents. When a person moves to Florida and already has an estate plan, there are certain things to keep in mind.