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Tuesday, 23 October 2018 10:02

Estate planning questions in South Carolina

One of the most crucial actions any family can take to ensure that their final property and health care requests are honored, and that loved ones are provided for in their absence is Estate Planning. Even though this is often put off in favor of more pressing affairs, a comprehensive estate plan can fix many legal issues that come up whenever a loved one passes away. Making it less complicated for loved ones dealing with the loss of a family member. 

Estate planning can answer questions such as: 

What is the status of their financial circumstances? 
What real and personal property do they have? 
Which family member gets what? 
Is a personal guardian required to care for minor children? 
How much will taxes be in order to transfer property ownership? 
What funeral arrangements have been requested?
In this article, you will find a summary of estate planning, a definition of basic terminology and how to find an experienced estate planning attorney near you.

What is an "Estate"?

An "estate" consists of all property owned by a person at the time of their passing, including:

Property Owned
Bank accounts
Insurance policies
Stocks and other securities
Personal assets including vehicles, jewelry, tools, etc.


How does an Estate Plan Help?

No matter the complexity of your estate, an estate plan can help achieve the following:

Recognizing the family and loved ones that are intended to inherit property after a persons passing.
Assuring that the property will be given to those identified in the estate plan, as promptly and with as little legal barriers as possible.
Minimizing the amount of taxes that will be required to be paid in order for the property to transferred to loved ones.
Bypassing the time and expenses connected with the probate process by utilizing estate planning devices such as living trusts and "payable on death" bank accounts.
Managing the different types of life-prolonging medical care a person wishes to receive should they be incapable of making those requests known when the time arrives.
Producing the intended funeral arrangements requested, and how similar expenses are to be handled.
Knowing the complexity of estate planning options that are right for a family can be a complicated task but The Davis Law Firm can help you with your estate planning needs.

In South Carolina, having an estate plan for your family is one of the most helpful things you can do. Making sure that you're estate plan is prepared accurately can be difficult. But, an experienced estate planning attorney can help explain all options available to you and your family in reaching your goals and satisfying the needs of your loved ones as well. Whether a person wants to change an existing will or create an estate plan, it helps to contact an attorney that knows how to handle all your needs so that you can get started on your estate plan today.

Call The Davis Law Firm In Orangeburg South Carolina for all of your Estate Planning needs.

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Information found on this Website is not, nor is it intended to be, legal advice.

You should consult an attorney regarding your individual situation.

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