We all hear about "risk/reward" equations. Ask yourself this: What is the reward when you go through life without an estate plan as the parent of a young child or children? And, what exactly is the risk? It's hard to find any type of reward that goes along with failing to plan ahead for the well-being of your children. When you hear about a very challenging situation that could have been easily avoided with some simple advance planning it is quite sad to say the least. On the other side of … [Read more...] about Have You Taken Action to Protect Your Young Children?
When you are planning your estate there are going to be different people on your inheritance list who are going through different stages of life. The ages of the people that you are leaving inheritances to can help dictate how you should proceed with regard to each individual. When it comes to grandchildren you have various options. If you are interested in leaving behind resources for minor grandchildren you could give gifts in trust. If you go this route you could utilize the $13,000 annual … [Read more...] about Paving the Way for Your Grandchildren
Taking care of those that you love can involve providing them opportunities to reach their full potential as human beings. With this in mind many people want to provide resources to pay for the college education of a loved one (or multiple family members). One way of doing this is by contributing into a 529 plan. These plans are offered by the states and in some states you can prepay the tuition of a student who will be entering college in the future. By doing this you are guaranteed the … [Read more...] about Saving For College Expenses
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)
Many South Carolina residents decide to invest in a college savings plan in order to help fund their child’s future college expenses. The state of South Carolina offers different plans to make the savings process easier on you. If you’re thinking about taking advantage of a college savings plan, take a look at the information below to learn more. If you have any questions about choosing the best college savings plan for your individual needs, meet with an estate planning attorney. This blog … [Read more...] about South Carolina College Savings Plan Options (part 1 of 2)
The “I love you” will is NOT a good way to leave assets to your spouse. An “I love you” will is as simple will that provides all assets to go directly to the spouse. If the spouse is not then living, the assets go to the children. Why you shouldn’t leave your assets to your spouse: Outright assets often never reach children. Children are often unintentionally disinherited by their parent and intentionally disinherited by a step-parent. Instead, pass the assets to your surviving spouse in … [Read more...] about Why You Shouldn’t Leave Your Assets to Your Spouse