With proper South Carolina estate planning, when you pass away, there will be some degree of control over how your assets are given to the people or organizations important in your life.
If you die without a proper estate plan, your family, charities and other beneficiaries can end up paying unnecessary (even exorbitant) taxes, court costs and legal fees. This can eat up potentially large portions of the inheritance you have worked hard to provide. To avoid this, you must have written instructions regarding who receives what and when they receive it. This is called an estate plan.
Estate planning is not only for the “wealthy”, or for people who are “retired.” As families of more modest means or assets can least afford to lose them, careful estate planning is necessary to protect their assets.
There are many common excuses people use for not having a plan in place, including confusion, being busy, thinking they don’t have enough assets, believing there is still time, or that they are not old enough. When something happens, your family is the one to make sense of it all and pick up the pieces, unless you plan ahead.
The state has a plan for you in the event you don’t have one in place… but it’s very likely you won’t like it. The courts will determine the distribution of your assets according to the probate laws in your state – not you, not your family, not the people you care about.
Let the professionals at the Law Office of Seth A. Levy help you with your South Carolina estate planning so you, and the important people in your life, can avoid this preventable pain and stress when something happens. Make an appointment with us today.