Do I Need A Will?
Not having a Will can be extremely disruptive and expensive. In South Carolina, if you die without a Will, the State decides who your heirs are, and your assets are disposed of under the laws of intestacy. This means that things might not be disposed of in a manner consistent with your wishes.
Schedule Consultation - Call (864) 641-3377
Free consultations are exclusively for personal injury cases.
A consultation fee applies to all other matters.
There are a number of unexpected problems that can arise when a person dies without a Will. If a person has minor children, this can cause major conflicts. The minor child will inherit an interest in property even though the minor has another parent living. This can make it difficult to sell property or to obtain a loan on property, as a court action will be required.
Sometimes a Will simply isn’t enough. You may have devises and bequests that you want to make with certain restrictions. It may be that you want to preserve certain assets for the benefit of more than one person. It may be that you want to establish a way to provide for someone long-term. In these situations, you may need to create a trust. When planning your estate, particularly when you have minor children, you may find that a Testamentary Trust would be a good choice. Talk to us about your wishes and your concerns, and let us show you ways to plan your estate.
Trusts and Estate Planning
In addition to making a Will, you should consider whether a Power of Attorney and/or Healthcare Agent would be something you should do. Having a Power of Attorney allows someone to handle your business and legal affairs if you become incapacitated. A Healthcare Agent allows someone to act for you when you can’t make medical decisions for yourself. Unfortunately, these documents must be created before a person becomes incapacitated. As you consider your estate planning needs, you need to consider preparing for unexpected events, so that when these life changing events occur, you can still have some control over the manner in which they are handled.
If a person has significant injury or dementia, or if a person otherwise becomes incapacitated and does not have a Power of Attorney or Healthcare Agent in place, there may be a need for a Guardianship and Conservatorship action. These actions allow a person’s assets to be protected, to have a person appointed to handle business affairs, and to have a person designated to make healthcare decisions. Unlike the preparation of documents in advance, these proceedings are much more time-consuming.
What is Estate Planning?
This area of law is technically known as
trusts and estates, or simply
estate planning. It is a specialized area of property law that deals with the orderly transfer of assets upon death or incapacity. A will is a legal document that governs the distribution of a person's assets and designates an
executor.
Trusts are more complex legal entities that manage assets for the benefit of named beneficiaries and are often used to circumvent the public and sometimes costly court
probate process.
Estate planning attorneys also prepare documents related to incapacity, such as
durable powers of attorney and
health care powers of attorney. Trust and estate law is governed by state inheritance laws and overlaps with tax law, as estate and gift taxes can significantly impact the transfer of assets. This area of law is crucial for preserving estates, providing for dependents, and ensuring that individuals' final wishes are carried out legally, effectively, and without conflict.
-
Academic Resource: The University of South Carolina School of Law publishes the premier scholarly journal in this field, demonstrating the academic rigor of this practice area. USC Law School Trusts & Estates
Planning for the future is one of the most important things you can do for yourself and your family. At Burts Turner & Rhodes in Spartanburg, our experienced estate planning attorneys will provide comprehensive legal advice to help you create a plan that aligns with your wishes and protects your loved ones. We understand that estate planning can be challenging, but we will guide you through the entire process with clear guidance. Our firm offers clients a variety of estate planning tools, including wills, trusts, and powers of attorney. In addition to estate planning, will drafting, trusts, and consulting services, we also assist clients with estate administration—estate administration and estate litigation.
Contact us to understand the advantages of each area and determine the most appropriate option for your specific situation.
