Did you know you already have an estate plan and it may not be the one you want?
At A Business Law Firm, LLC, we do more than business work and we see more clients than just business owners. One category of business we love to help both individuals and business owners is estate planning. Estate Planning is determining how you want your assets to be distributed at your death. Estate Planning also includes discussing ways for asset protection for the next generation. We also discuss Life Planning issues, such as retirement and drafting health care or durable powers of attorney.
Even if you have never created a will, the State of South Carolina has already created an estate plan for you on how your assets will be distributed through the Probate Court. It is decided by the rules of intestacy, which is in the Uniform Probate Code. It states your assets will go half to your spouse and half to your children. Many times, spouses are not happy with this decision, especially if minor children are involved. If you do not have a spouse or children, the rules of intestacy will continue to decide how your assets are distributed. At a certain point if no family members are found, your assets could go to the state of South Carolina.
If you want to decide on how your assets are distributed and not let the state dictate your choices, give us a call at 864-699-9803 to discuss setting up your estate plan.