South Carolina Estate Planning
Your Future is
Whether you need to form a Last Will and Testament, set up a Trust, obtain a Power of Attorney, or just want to talk about the benefits of different estate planning choices, The McCord Law Firm, LLC is here to make things simple. We understand that every family has different estate planning needs, and we want to help you discover your best path forward and ensure your family’s protection.
One of the key aspects to a successful life is preparation and planning. It is rather easy to prepare for something pleasant…for example, making plans for that next vacation. However, preparing for what is to happen when you die is something that many people procrastinate, and it is understandable because no one likes to think about their own death. Nevertheless, having even the simplest of estate plans in place is the responsible thing to do. Death can happen at any time. We often think about the legacy that we will leave to our loved ones. If we do not plan for proper estate administration, then your legacy could become your loved ones sorting out who gets what, or worse, fighting over the property you leave behind. At The McCord Law Firm, LLC, we offer estate planning services to assist you in making important end-of-life preparations. As attorneys, we are able to offer you specific advice for your particular situation. Unlike typical fill-in-the-blank estate planning document websites, we do not disclaim our legal responsibilities and we provide you with the most current information.
Our Estate Planning Services
What to Expect
Last Will & Testament
A last will and testament is a legal document that communicates a person’s final wishes regarding division of all assets and guardian arrangements for surviving dependents. It can also account for special circumstances, including but not limited to the care of a special-needs child or an aging parent.
A person writes his or her will while he or she is still alive, and once he or she passes away, the will is carried out by a still-living person called the executor of the estate. The executor is responsible for administering the estate under the supervision of probate court.
There’s more to an estate than just a will, but the will is the main document used by the probate court to navigate estate settlement. If there are any assets not already assigned in the will, they will automatically pass directly to the deceased person’s beneficiaries.
People are often unaware that if you die without a will and are married with children, South Carolina probate law states that only half of your estate passes onto your surviving spouse. The remaining half is split among your surviving children. That can cause complications for some people, especially if there are estranged family members and/or children less than 18 years old who receive property pursuant to these probate laws.
Trusts are estate-planning tools that either replace or come alongside wills after one is deceased. A main difference, however, is that a trust can help a person distribute his or her property or wealth while still alive by transferring its benefits to assigned people.
Power Of Attorney
A power of attorney gives powers to a person or organization to act on one’s behalf. These powers include handling financial and business transactions, buying life insurance, settling claims, operating business interests, making gifts, and employing professional help. A power of attorney is a great tool for when one is physically or mentally incapable of managing their own affairs. A general power of attorney is often included in an estate plan to ensure proper handling of finances.
Accident or Illness Preparation
Just as important has having valid will is planning for events such as accidents or illnesses. While everyone inevitably is confronted with death, accidents or illnesses are not as foreseeable and often come with no warning. Therefore, a critical part of your estate plan should be preparation for unfortunate events that do not end your life but cause you to lose the mental capacity to make decisions.
At our firm, we handle not only end-of-life preparations but also the preparations needed for health and financial decisions to be made in the event you are unable to make those for yourself. The emotional struggles that come to a family once an accident or illness has seriously affected one of its members are difficult enough to deal with. Having the appropriate powers of attorney in place will give you and your loved ones the peace of mind that your personal affairs will not come to a halt due to mental incapacity.
Having to sort out personal affairs or determine the desired treatment because a loved one has not made adequate plans compounds the stress of the situation. Let us help you make the appropriate preparations should accident or illness strike in the future.
Why Choose Us
Seasoned Lawyers. Small Firm Advantage.
At The McCord Law Firm, LLC, we make every effort to earn our client’s trust by listening to the client’s needs, keeping the client up to date, always returning calls, and providing the highest level of legal advocacy. No matter what your net worth, The McCord Law Firm, LLC can be your guide to understanding the estate planning options available to you, assist you in making the best choice for your family, and help enact the plan that will keep your family’s financial future secure.
We would love the chance to talk to you to see how we can assist you with your legal needs.
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Here at The McCord Law Firm, we care about you and your unique challenges. Even if we’re not able to help you in your exact situation, we’ll always guide you in right direction.