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NC and SC Estate Planning and Elder Law Firm
Thursday, January 19, 2023
If you have begun your estate planning journey, you have probably thought about or addressed the distribution of your biggest assets. It is likely that you have planned for those things that have either great financial worth, great significant worth, or both. What about everything else? Think of the things we accumulate over the years. Read more . . .
Tuesday, January 10, 2023
There is no doubt about it, estate planning has a lot of moving parts. As you work your way through the many facets of estate planning, be sure to keep reminding yourself who you are doing this for. Yes, estate planning will provide you with many vital protections. Read more . . .
Tuesday, September 13, 2022
Personal representatives are tasked with many important responsibilities when it comes to estate administration in South Carolina. Among these responsibilities is properly addressing creditor claims. Proper notice must be provided to potential creditors of the estate and proper payment of valid creditor claims must be made. This is a key part in the estate administration process as well as the part that can take the most time to complete.
Creditor Claims During Estate Administration in South Carolina
In South Carolina, the personal representative of an estate must put creditors on notice of estate administration proceedings. Read more . . .
Saturday, June 18, 2022
Over the past few pandemic years, Americans have had to confront some uncomfortable ideas about what they knew or thought they knew about their health and safety. Unfortunately, sudden illness does strike. The unforeseen, as well as the foreseen, does happen. Despite the tough realities we have all grappled with in recent years, a shocking number of Americans still do not have an estate plan in place.
According to a recent study conducted by Caring. Read more . . .
Wednesday, June 15, 2022
![](/global_pictures/NewProject-2024-03-18T154906.3831250.jpg) Another school year has come and gone. Some of you may be preparing to send your kid off to college in the fall. The newly available freedom in the future for them can be exciting and, especially as a parent, a little scary. As you prepare yourself and your college kid logistically, mentally, and emotionally for this big transition ahead, consider preparing things legally as well. After all, most students entering college for the first time this fall will be 18 and that means they are now legal adults. Read more . . .
Sunday, June 12, 2022
Medicaid provides health care coverage for qualifying low-income residents in the U.S. While it is a federally mandated program, Medicaid is operated at the state level. With a comprehensive application process and stringent eligibility requirements, it can be frustrating to gain access to Medicaid benefits. This is unfortunate, especially when you consider how many people need access to the program for covering things like doctor visits and nursing home care. Read more . . .
Monday, May 23, 2022
![](/global_pictures/NewProject-2024-02-26T150018.8467759.jpg) A living trust as a legal construct in which assets can be stored for distribution at some point and under certain specified conditions to the trust beneficiaries. The trust is managed by the trustee according to the terms set forth in the trust document and for the benefit of the beneficiaries. Many people establish a living trust in order to avoid the probate process. Probate is the public, court-supervised process of administering a decedent’ estate. It can be time consuming and costly. Read more . . .
Thursday, May 19, 2022
To establish a trust, the trustor, the creator of the trust, transfers assets into the trust and appoints a trustee to manage the trust for the benefit of the beneficiaries. Trusts can be established for a number of reasons, including probate avoidance, and have many benefits. If you are looking to include a trust in your estate plan, you will need to choose a trustee to manage that trust. Read more . . .
Monday, May 16, 2022
Simon immigrated from Ireland to the United States with his family when he was 7 years old and then spent his formative years living in New York. He moved to Charlotte in 2004 and acquired his Bachelor of Arts in history and political science from the University of North Carolina at Charlotte, and then obtained his Juris Doctorate from Elon University School of Law on a full merit scholarship. Since graduating law school, and in an effort to constantly increase his business acumen, Simon has taken numerous post-graduate programs studying business analytics, economics, and negotiation tactics at Harvard University. Read more . . .
Monday, May 16, 2022
![](/global_pictures/NewProject-2024-02-26T134110.9502359.jpg) Taxes are rarely anyone’s favorite subject. With tax season just wrapping up, you may have had your fill of the topic for a while. Regardless, however, taxes remain an important thing to confront. This may be especially true in the Read more . . .
Friday, April 15, 2022
Do you have a charitable cause you hold close to your heart? Are you looking for ways to make a charitable impact most effectively in your estate plan? If so, you may want to learn more about a charitable lead trust, what it can do, and the benefits it can bring to you, your loved ones, and your favorite charities.
Charitable Lead Trusts
A charitable lead trust is an irrevocable trust which makes charitable contributions for a certain period of time. Afterwards, the assets remaining in the trust are eventually transferred to the named beneficiaries of the trust, who are usually family and other loved ones. This is not to be confused with the charitable remainder trust, which serves similar purposes, albeit inversely. You see, with a charitable remainder trust, the trust pays out a stream of income to family members, or other named parties, for a set period of time and then transfers the remainder of the trust assets to a charitable organization. Read more . . .
Monk Law Firm, PLLC assists clients throughout Charlotte, Rock Hill, Fort Mill and the surrounding areas.
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