People sometimes make broad assumptions based on misconceptions, and this can enter into the realm of estate planning. The above is one of the reasons why it is not a good idea to buy into do-it-yourself estate planning notions. There are websites that offer downloads and worksheets with which you can create legal documents such as last wills and revocable living trusts. As the highly respected magazine Consumer Reports has stated recently documents created using these tools are flawed, and … [Read more...] about Do Living Trusts Protect Assets?
Ongoing Adjustments Essential for High Net Worth Families
Individuals who reside here in the Low Country who are in a position to leave a lasting legacy must develop a solid working relationship with a seasoned and savvy South Carolina estate planning attorney. The fact of the matter is that things are always changing, and when you are in possession of significant financial resources you can be exposed to considerable damages if you go any length of time without making the appropriate adjustments. What types of changes are we referring to here? For … [Read more...] about Ongoing Adjustments Essential for High Net Worth Families
3 Important Trust Protections
If you are unfamiliar with trust planning, you will be intrigued by the asset protection that trusts can provide for your estate planning beneficiaries. Would you like to protect your child’s inheritance from a divorcing spouse, bankruptcy, and law suits? If you’re like most people in our highly litigious society, your answer is a resounding, “Yes! I want asset protection.” Divorce Protection Half of your children will likely get divorced. You can protect your child’s inheritance from a … [Read more...] about 3 Important Trust Protections
