Estate Planning Lawyer in Surfside Beach, SC

People pass away every day without a comprehensive estate plan in place. This lack of preparation causes unnecessary conflict between family members, prevents loved ones from receiving their inheritance in a timely manner (or at all), and adds unnecessary hassle and stress to spouses and children at a time when they should be allowed to grieve. Proper planning for what will happen to your assets after you pass will give you and your family the peace of mind they deserve.

For help establishing your estate plan, writing a will, creating a trust, or other legal needs, contact our estate planning law firm, where we service Surfside Beach and the surrounding area. We have helped hundreds of families throughout South Carolina and elsewhere. We would be happy to offer you a complimentary initial consultation.

What Does an Estate Planning Attorney Do?

Estate planning attorneys can create the documents and navigate the processes necessary to help plan for your death and ensure your assets will be distributed as you wish. Depending on your specific needs, your Surfside Beach estate planning attorney can help you with all aspects of your estate plan, including:

• Drafting a legally valid will

• Creating various types of trusts

• Establishing powers of attorney 

• Identifying your beneficiaries and contingent beneficiaries

• Helping you understand tax implications

• Avoiding a lengthy probate process

Having an estate planning attorney is a wise decision for anyone looking to grant their loved ones assets after their death in the most efficient manner, or plan for worst-case scenarios during life.

What Happens If I Die Without a Will?

If you die without a will in SC, it will have profound implications for how your property is distributed. When someone dies without a will, they are considered to be intestate. If an individual dies intestate, their assets will pass according to South Carolina law.

Spouses and children generally receive assets first under South Carolina's intestacy statute. While this may work for certain families, many wish for all of their assets to go to their spouse first, or for assets to be distributed amongst their extended family, such as nieces, nephews, cousins, and grandchildren.

How Much Does an Estate Planning Attorney Cost?

The complexity of your estate, number of assets you want to protect, number of beneficiaries, and other factors all influence the cost of the estate planning process. Furthermore, if your will is contested, or if there are other litigation concerns, that would demand more time of your attorney. That said, it is impossible to give a specific number. Please give Bespoke Estate Law a call or send us an email, and we will be happy to speak with you about your unique circumstances. We can provide you with a transparent, flat fee cost.

Can I Avoid Probate?

Yes. With careful planning, there are a number of ways to avoid the probate process. Certain strategies, like trust utilization, joint property ownership, and naming beneficiaries on insurance policies can ensure that property will avoid probate. 

What is the Difference Between a Will and a Trust?

A trust is an agreement that instructs the trustee to manage and distribute the trust property to the beneficiaries. Although this sounds complicated, it's relatively simple.

Trusts require four elements to be considered valid. Those elements are:

• A person to create the trust (the "settlor")

• A person to manage the trust (the "trustee")

• Property to fund the trust (the "trust principal"

• People to receive the trust property (the "beneficiaries")

Trusts are often the most efficient, all-encompassing method to avoid the probate process. Once created and funded, generally the settlor does not need to do anything else, unless modifications to the trust provisions are required. Once the settlor passes away, the named successor trustee only needs a death certificate before they can make distributions, free and clear of probate administration.

A will is a legal document that allows you to choose how your property will be distributed to your chosen beneficiaries upon death. Wills are flexible documents where you can dictate exactly how you want your estate to be distributed. A will can also include essential instructions on how to care for your minor children and pets. 

The general requirements for a valid Will are as follows: 

• A written document

• Signed by the testator

• The testator must be of sound mind, and under no undue influence or duress

• Two witnesses to the testator's signature

The witnesses should also be disinterested parties. A disinterested witness is not named to receive under the will. Although having an interested witness sign the will may not invalidate the entire will, it may impact the legal validity of the gift made to the interested witness.

Call Our Surfside Beach Estate Planning Attorneys Today

At Bespoke Estate Law, we have the expertise you need when planning your estate. We will tailor an estate plan to your specific needs, while guiding you through making difficult decisions. Contact us today for a free consultation. We are a leading estate planning law firm in Myrtle Beach, licensed to practice in both SC and NC. We provide estate planning services in Wilmington, NC as well.