A comprehensive will and estate plan will ensure that your property and assets are distributed according to your wishes and not by the government or I.R.S. A legally sound will is also able to communicate your wishes for your own care should you become incapacitated and unable to speak for yourself. Any person with assets to protect or minor children needing care will want to consider the creation of a flexible estate plan that can account for changing life circumstances and avoid potentially costly disputes after their death.
At the Bauer Law Firm, our experienced estate planning lawyers have clients over the past 12 years in drafting and filing of South Carolina estate plans, including:
Trusts
A trust transfers your assets to another person or entity who will manage them. You specify the condition under which the transfer can happen - during your lifetime, or after disability or death. There are different types of trusts including living trusts, charitable trusts, family trusts, special needs trusts etc. but the clear difference between a trust and a will is that a trust will not go through probate.
Wills
Wills are inexpensive and take the burden of dividing property away from family members through offering written consent of the distribution. Having a will is the most important first step in managing your estate. Your will is the legal document that designates the beneficiaries of your estate, and when, where and how your assets will be distributed. A will is also the vehicle whereby you name a guardian for your minor children (under 18). Your will also assigns your personal representative and gives them with the authority to act in accordance with your wishes. In addition to developing your will to protect your assets and provide for your survivors, we can help with contested will and trust cases, contested guardianship proceedings and other intra-family disputes.
Living Wills (Health Care Power of Attorney)
A living will tells your loved ones how you would like them to make medical decisions should you become unable to make decisions yourself. A health care power of attorney designates who will make those decisions. A general power of attorney can allow a trusted person to handle your finances and other business interests.
We can also assist with probate proceedings and the distribution of assets / resolution of debt and tax issues after death. Our focus in this area is the timely and cost-effective resolution of estate issues, the minimization of taxes, and the identification and correction of disputes before they develop into costly litigation.
For additional information and assistance in estate planning, including wills and trusts, please contact the Bauer Law Firm at (843) 842-5297.
