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Monday, July 26, 2021

What You Need to Know About the Proposed For the 99.5% Act


While you might not necessarily think of estate tax is a hot news topic, it has been recently. This has been, in large part due to the “For the 99.5% Act” that Senator Bernie Sanders proposed on March 25, 2021. The sweeping changes in Read more . . .


Thursday, July 22, 2021

What Can Delay the Probate Process?


If you have done any initial investigation into the many benefits of estate planning, you may have read that one of the big potential perks of comprehensive estate planning is that you can put tools in place that help your assets from avoiding probate, in whole or in part. Why is it so great if you can avoid probate? Well, for starters, probate can be expensive. The court fees alone can take a significant chunk out of an estate’s value.
Read more . . .


Monday, July 19, 2021

How to Choose a Personal Representative


The personal representative of an estate has a lengthy list of important tasks to accomplish in probate proceedings. In fact, while probate is the court-supervised process that follows in the wake of a person’s death, the personal representative is instrumental in helping to ensure that probate goes smoothly, that everything needed gets done, and that things get accomplished without undue delays and complications. Personal representatives play a significant role in the administration of the estates they are appointed to oversee.

Did you know that, with proper Read more . . .


Wednesday, June 30, 2021

What Is the Elective Share?


Have you ever heard of the elective share? While many have not, it can have significant impact on a person’s estate plan. Established in state legislatures across the U.S.
Read more . . .


Tuesday, June 29, 2021

The Pitfalls of DIY Estate Planning


The Do It Yourself, DIY, craze persists in the U.S. People are engaging in DIY home renovations, DIY life hacks, DIY arts and crafts, and so much more. What about DIY Read more . . .


Monday, June 28, 2021

Estate Plan in Place? Where You Should Consider Storing Your Original Documents


Congratulations on checking off a vital task on your to-do list! Estate planning puts legal tools in place that will protect both you and your family. The sense of relief and peace of mind that can come with putting a strong estate plan in place can be great. You may have designed a will that distributes your property as you wish after you pass away.
Read more . . .


Friday, May 28, 2021

The Benefits of Charitable Giving in Your Estate Plan


Giving back to causes that are important to you may be a priority. If there are charities whose mission you support, providing them with financial resources to continue pursuing their goals can be fulfilling in so many ways. In addition to bringing you joy and a feeling that you are contributing something bigger than yourself, there can be other benefits of charitable giving. These benefits, however, can vary depending on how you do the giving. For instance, have you ever heard of charitable giving through an estate plan? By using different Read more . . .


Monday, May 24, 2021

The Relevance of “Domicile” in Estate Planning


Where do you live? It sounds like a simple enough question, but the more you really dive into it with some people, it can get more complicated than anticipated. With many people owning multiple properties in different states, and sometimes even splitting time evenly between them, what is considered to be the permanent residence or “domicile” can be difficult to determine. A person’s domicile is considered to be the place where he or she lives with an intent to permanently stay. There is no uniform way of defining or determining domicile and, often, a number of different factors will be considered in its determination. In some states, you can even file a Declaration of Domicile in order to formally establish your intent to make a certain location your domicile.
Read more . . .


Friday, May 21, 2021

The Benefits of a Spendthrift Trust


In a family and among loved ones, there can be a range of concerns and issues. Perhaps you have a grandchild who is not good with money. Maybe you have a sibling struggling with an addiction. While we all have our concerns and struggles, you may still want to provide your loved one with an inheritance, but worry about where the proceeds will go to. Will the inheritance be immediately wasted away? Will creditors eat up all of it? Will it go towards perpetuating an addiction? Fortunately, a spendthrift trust may solve the dilemma you face.
Read more . . .


Wednesday, April 28, 2021

What Type of Planning Should a Child with Special Needs Have in Place?


The unique care needs of a child with special needs can run a wide range. Some children with special needs will be able to live independently. Others may need or eventually need 24-7 care. Oftentimes, a child with special needs will fall somewhere in between, needing assistance on occasion, but not all the time. No matter what type of care your child with special needs may have or eventually have, there are plans that can be put in place to help ensure they maintain quality of life far into the future.
Read more . . .


Monday, April 26, 2021

What Is a Spendthrift Trust?


There are so many different kinds of people in our lives that we care about and want to provide for. Do you have a loved one with whom you want to provide financial support, but worry about where this support will end up? From creditor issues to poor money management skills, it can be stressful to go back and forth on whether or not you want to risk giving assets to someone who may so easily lose everything. Here, we discuss the spendthrift trust, the possible solution to this problem you may have been grappling with.
Read more . . .


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Monk Law Firm, PLLC assists clients throughout Charlotte, Rock Hill, Fort Mill and the surrounding areas.



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| Phone: 803-594-4453
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| Phone: 704-369-9977

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