NC and SC Estate Planning and Elder Law Firm

When starting any business venture, it can be tempting to rush through the beginning planning phases in the excitement of it all. Don’t let this happen. Take the time upfront to set your business up for success.
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One of the central decisions when forming a business is what type of business structure you want to operate under. If you have settled on a corporation, then you have to choose what type of corporation you want. You will also need to decide what type of tax treatment you want for the corporation.

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While some people may have heard the word “probate,” not many know what it means or what probate involves. Some may simply have been warned to try and avoid probate. It is expensive! It takes too much time! This is what is usually said when probate is mentioned. The majority of estates, however, will go through Read more . . .

A fiduciary shares a legal relationship with the principal that comes with certain responsibilities, or duties. The Principal is owed the duty and the fiduciary carries the burden of upholding the duty. A prime example of a fiduciary relationship is that which exists between a trustee and trust beneficiaries. Read more . . .

There are many different trust types available to use when estate planning. Each different type of trust serves a different purpose and has its own benefits. The value that you may find in the proper implementation of the right kind of trust to serve your own purposes can be substantial. This is part of the reason why it is so important to begin Read more . . .

The benefits available to veterans can be complicated to understand, but often provide critical services to veterans in need. Many veterans find themselves needing help with the cost of long term care. Long-term care can include a variety of things, ranging from managing an illness to assistance with performing everyday tasks.
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Whether you are trying to make a decision for yourself or a loved one, selecting the right nursing home facility is a big decision. There is a wide range of options to consider. A facility will not be right for everyone. Take the time to research.

 

 

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The administration of an estate can be a lengthy and sometimes frustrating process. The personal representative of the estate is tasked with its administration and the job duties are extensive. To administer the estate, the personal representative must, among other things, gather and protect all assets, take inventory of the assets, notify all creditors, determine which debts are legitimate and must be paid off, and distribute the assets to the beneficiaries as directed by the will or, if there is no will, as directed by state intestacy laws.
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Some people have a very specific idea of how they want their funeral to be arranged. Some may be elaborate and large celebrations of life, others may be low key, intimate affairs. Regardless of the style you have settled on, you will want to make it clear to your loved ones as to how you wish to be honored when you pass. There are several ways to do this.

Specifying Your Desired Funeral Arrangements in Your Will

Your will is one place where you could specify your desired funeral arrangements.
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Whether you fear that your child has married someone unreliable or you have faced the reality that around half of all marriages end in divorce, there can be a number of reasons why you would worry about leaving an inheritance to your child that would end up in the hands of a spouse who winds up as a former spouse. During divorce proceedings, all marital property will be subject to division. The court will first determine what constitutes marital property and what is separate property. 

Generally speaking, marital property is any property acquired by you or your spouse during the course of your marriage, with some exceptions. Separate property generally includes property acquired by you or your spouse before marriage or property you acquired during the marriage by devise or gift.
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Putting an estate plan in place is so important. One of the most common estate planning mistakes is not having an estate plan at all. That being said, a properly drafted estate plan is critical to best serving you and your loved ones. Mistakes in the drafting of an estate plan can have serious consequences such as unintentionally disinheriting someone, to leaving your family to deal with large tax bills or intense legal battles. The best start to avoiding common Read more . . .