Blogs
Living Wills & Advance Directives
Few things in life are as critical as having a well-crafted plan. This philosophy rings especially true when it comes to healthcare decisions. The unpredictable nature of health issues means that circumstances can change in the blink of an eye. This is why it is paramount to have one’s healthcare preferences documented and legally binding.…
Preparing the Next Generation: Tips for Effective Succession Planning
Regardless of their size or industry, organizations must be ready to tackle the inevitable transitions that come with leadership changes. Such transitions are critical junctures that can either propel a company forward or severely hinder its progress, depending on how well-prepared the organization is. This is where the concept of succession planning comes into play.…
When and Why You Might Need Professional Trust Administration Services
Trusts have always been an essential part of estate planning. They help to ensure that assets are managed and distributed according to the grantor’s wishes. However, the complexities involved in trust management can require professional oversight. For those who find trust administration confusing, it may be helpful to consider professional trust administrative services. This blog…
Succession Planning for Family-Owned Businesses
Family-owned businesses have always been at the heart of our economy. They provide jobs, goods and services that support the families and the communities they serve. Regardless of their scale, every family-owned business will eventually face the challenge of transitioning leadership and ownership. This is why succession planning is crucial for their long-term sustainability. The…
Does Marriage Override a Will in South Carolina?
Marriage is a significant event for two people who have chosen to commit to each other for life. However, it is also a legal process that entitles spouses to some or all of their partner’s assets, leading to profound legal implications applicable even after the death of the other. One common question spouses may have…
Addressing Challenges in Business Succession Planning
Many business owners manage to forge successful business ventures as part of their legacy. However, a solid succession plan must be in place to ensure that operations continue smoothly and seamlessly in case of their eventual incapacity or passing. Business succession planning ensures the continuity and longevity of a company and the financial stability of…
The Duties and Responsibilities of a Trustee
Trusts can be a valuable tool for estate planning. When used correctly, one can avoid probate, keep financial affairs private, reduce estate taxes, and ensure dependents are financially stable if they are no longer around. To ensure the trust’s terms are honored, a designated trustee must ensure the trust is executed accordingly and beneficiaries receive…
South Carolina Probate Laws
South Carolina probate laws govern the distribution of a deceased person’s estate, so their assets are handled according to their wishes and state law. These laws also cover the settlement of any outstanding debts and financial obligations. All South Carolinians need to be familiar with these laws as they directly impact how your estate is…
Ensuring the Continuity of Your Business: Succession Planning Essentials
Succession planning is crucial to business continuity, yet it often gets overlooked. Whether running a family-owned enterprise or a large corporation, business owners in South Carolina need a solid succession plan in place. A well-thought-out plan ensures the seamless transition of leadership and safeguards the business’s legacy, maintaining its stability and growth for future generations. …