Payne Law Firm, LLC works with individuals and families across the state of South Carolina to develop estate planning strategies and solutions that best support their goals. Our philosophy is that everyone needs an estate plan. A carefully constructed, flexible estate plan is useful to avoid excess taxes and to ensure that your wishes are carried out.
At Payne Law Firm, LLC, we take the time to fully understand your unique needs and objectives. This personalized approach allows our attorneys to structure and design wills, trusts, and other estate planning documents to best serve your personal and financial goals.
Why do I need an estate planning attorney Charleston SC?
Planning for what should happen to your estate after you pass can be incredibly difficult, and if it’s not taken care of properly by a qualified estate planning attorney Daniel Island SC or Charleston SC, you risk having your final wishes muddled and misinterpreted. You need a lawyer Charleston SC who can help you ensure that your objectives are attained and that your legacy lives on in the way you intend.
What happens if I die without a will?
If you pass away without a will (also known as “intestate”), South Carolina’s laws of descent and distribution will be used to determine who ends up with your assets and property, which is why you need to choose your estate planning lawyer Charleston SC carefully. Understanding the laws in South Carolina regarding property can be tricky, but we’re experts when it comes to estate planning Daniel Island SC and estate planning Charleston SC.
With a well-written will in place, your actual wishes will be reflected, but if you do not have a will, you relinquish control over the many personal decisions that laws would otherwise address quite poorly.
What does a will do?
Generally speaking, a will provides specific instructions regarding the distribution of property and assets owned by you at the time of your passing. For all intents and purposes, you get to decide how your property is distributed, and a will makes sure that your wishes are carried out properly. However, numerous laws in South Carolina must be followed, which is why it’s so crucial to hire an estate planning lawyer SC who not only understands this area of practice, but can also understand you, your family and your values. Without the help of a qualified estate planning attorney SC, your family and loved ones may be responsible for taxes and other consequences that you could not have foreseen.
What doesn’t a will do?
Wills are essential documents to have taken care of when it comes to estate planning Charleston SC or estate planning Daniels Island SC; however, it’s important to note that wills do not govern the transfer of some types of assets, which are known as non probate property. These types of assets often come into play when real estate or other assets for which rights of survivorship apply are involved. Additionally, insurance policies and IRAs that are payable to specific named beneficiaries must be paid out according to the details therein, regardless of what a will may or may not state. Understanding the differences between what a will can and can’t do is tricky, but Payne Law Office’s team is here for you when it comes to wills and estate planning Charleston SC. Give us a call today, and we’ll help you navigate this difficult terrain.