South Carolina estate planning lawyers are always going to point out the fact that it is important for people of all ages to have an estate plan in place. There are those who know that they should execute the appropriate estate planning documents who fail to act because they feel as though they are not going to be passing away anytime soon. The truth is that no invitations are going to be sent out by the Grim Reaper as it were, and if you are paying attention you will see that people of all … [Read more...] about Houston Estate Value Taking Off
Putting Something Away For Retirement
To be able to retire with financial freedom you have to look over the horizon well in advance. After all, you may have to pay your way for 20 years or more after you put your working years behind you and this is going to take some significant financial resources. There are those who don't worry about the future because they assume that Social Security will be enough to finance their retirement years. Depending on how much you paid into the program and what you expect your expenses to be this … [Read more...] about Putting Something Away For Retirement
Unique Perspective On Retirement Savings
As the baby boomer generation reaches retirement age some of the facts are emerging about their preparedness and the news is not especially encouraging. A recent AP-LifeGoesStrong.com poll suggests that most of the baby boomers who are approaching retirement age polled say that Social Security will represent the centerpiece of their retirement incomes. In addition, nearly one fourth of the people who responded to the poll had no retirement savings at all, and the mean amount that poll … [Read more...] about Unique Perspective On Retirement Savings
What Is An Ethical Will?
When you think about estate planning the financial aspects are probably going to occupy your mind. You must prepare all of the assets that you have been able to accumulate throughout your life for distribution to your loved ones, and this is indeed a formidable task. In a sense it is like the ultimate act of spring cleaning, identifying everything you have tucked away over many decades. And then you have to determine who will be getting what as it were and how best to deliver it. But aside from … [Read more...] about What Is An Ethical Will?
Incentive Trusts: A Nudge Toward Success
As you take stock of the different people that you will be leaving inheritances to you are likely to feel perfectly comfortable leaving a lump sum inheritance with no strings attached to some of your heirs. However, there may be others who have not yet made their mark in the world, and you may be concerned that leaving them too much too soon may do more harm than good. You may also have people on your list who have personal problems, or a history of poor money management. One option that you … [Read more...] about Incentive Trusts: A Nudge Toward Success
GRAT Can Enable Tax-Efficient Giving
One of the things you have to be aware of when you are planning your estate is the threat of asset erosion due to the estate tax. Some people assume that they can simply give away their assets as gifts before they pass away to avoid the estate tax, but there is a gift tax in place with a rate that mirrors the estate tax. There is a $5 million gift tax exemption, but because the gift and the estate taxes are unified the exemption is unified. As a result, if you used your $5 million exemption … [Read more...] about GRAT Can Enable Tax-Efficient Giving
What to Expect When Creating Your Estate Plan
When you’re beginning your estate plan, you may have questions about how the entire process will work. It’s important to note that estate planning is not something that can be done overnight. You will work alongside an estate planning attorney to create a plan that fits all of your estate planning needs. Take a look at the information below to learn what to expect during the creation of your estate plan. Before starting your planning, your attorney will give you several planning sheets that … [Read more...] about What to Expect When Creating Your Estate Plan
Choosing The Right Representatives
People who are planning for the future have a lot of important decisions to make, and if you are going to use a last will to transfer your assets one of these decisions will involve the selection of an executor or personal representative. Stating your wishes in writing is one thing, but there are hands-on tasks involved in carrying them out. This is the job of the executor. Some people think about the role of executor as someone who breaks the news to the family regarding the wishes of the … [Read more...] about Choosing The Right Representatives
Must Have Estate Planning Documents that Prepare You for the Future
Are you thinking about starting your estate planning? If so, there are many estate planning documents that you will want to consider adding to your plan. With the right documents in place, you can prepare yourself for the future. If you have any questions about the use of these documents, or if you’d like to begin your estate planning, meet with an estate planning attorney. Living will This document allows you to spell out your medical wishes. This includes the types of medical treatment … [Read more...] about Must Have Estate Planning Documents that Prepare You for the Future
South Carolina College Savings Plan Options (part 2 of 2)
Taking advantage of a college savings plan can be a great way to help your child reach his or her educational goals. If you’re a South Carolina resident, you may be looking for the best savings options. Take a look at some of the information below to learn more about possible college savings plans. If you need help deciding on your college savings plan choices, meet with an estate planning attorney. This is blog post will discuss the Future Scholar 529 College Savings Plan. Unlike the … [Read more...] about South Carolina College Savings Plan Options (part 2 of 2)
