Top Anderson, SC Living Trust Lawyers Near You Littler Mendelson, P.C. Living Trust Lawyers | Greenville Office | Serving Anderson, SC 220 N Main St, Ste 500, Greenville, SC 29601 1 Verified Attorney
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A Lawyer Can Help With Your Living Trust. Different types of living trusts exist and have advantages and disadvantages. Determining which type is best suited to you can be confusing. To ensure your living trust accomplishes what you want it to do, the advice and experience of a Greer living trust lawyer is advantageous.
Choose Max T. Hyde, Jr. for experienced, diligent estate planning & probate representation in the Greenville, SC area.
Get a local Greenville attorney to help with your South Carolina estate planning & probate issues.
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Estate Planning Lawyers at 870 Cleveland Street, Suite 2D, Greenville, SC 29601
A Law Firm practicing Estate Planning law.#N#Our mission is to offer compassion, individual attention, and respect, as well as legal and fiduciary services second to none, in the ... Read More#N#areas of estate administration, estate planning, probate
Estate Planning Lawyers at 601 E. McBee Avenue, Suite 200, Greenville, SC 29601
Representing clients in Greenville and surrounding areas for Family Law, Wills and Trusts, Probate Administration and Litigation and Guardian ad Litem matters
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Estate Planning Lawyers Serving Greenville, SC and Greenville County, South Carolina
A living trust (revocable trust) is a written document that you create with the assistance of your South Carolina estate lawyer during your lifetime. You may choose to fund it during your lifetime, or leave it unfunded until your death. By "fund it," that means that you actually make it the legal owner of your assets.
Duties of a Trustee. With a "Living" (or inter vivos) trust, the creator of the trust (often called grantor, trustmaker, or settlor) is usually the trustee. However, once the settlor passes, someone has to take over as the successor trustee. You must agree to be successor trustee.
A living trust is revocable trust, meaning that you can end it or change it at any time. You, as the creator of the trust, reserve the right to amend it and alter the trust however you please and you can obtain access to all the assets at any time for any reason.
Upon your death, the successor trustee will do with the assets whatever the trust says. The bottom line is that upon your death, the trust serves as a Will to the extent that it has assets in it. Second, you have managed to keep your affairs private.
One of the most common uses of a living trust or perhaps an irrevocable trust is to properly provide for the needs of the new spouse during their lifetime but to insure that your biological children also receive their share of your estate.
A duty of impartiality (not to favor the interest of one party over another) 2. A duty of undivided loyalty (not to put your own interest in conflict with those of the trust), and. 3.
Creating a living trust probably won’t impact your taxes. If you’re estate planning, though, you should know about the South Carolina estate taxand the South Carolina inheritance taxand how they might affect your estate. There is no estate tax or inheritance tax in South Carolina.
One of the most common reasons to create a living trust is to avoid the probate process, but the state’s probate process is already simplified. If you do think you need a living trust, you can make it yourself or you can hire a lawyer to guide you through all of the steps involved.
All trusts have a trustee who is in charge of managing and distributing the trust’s assets. You can be the trustee or pick someone else. Many people choose one of their children or another trusted relative.
A lot of your assets and property, including stocks, real estate and family heirlooms, are eligible to be stored in a living trust. One notable exception is retirement plans like 401(k) accounts, but you can name the trust as a beneficiary.
An irrevocable living trust trust is permanent. The person who creates the trust can’t alter the trust or remove property from it without the permission of everyone named in the trust. The trust owns the property placed inside it, and relevant taxes are paid via the trust.
Living trusts are also more expensive and time-consuming to set up than wills. Plus, they allow a longer time frame for legal challenges, potentially causing problems for your family after you die. Take these downsides into account when considering whether to get a living trust. Living Trusts vs. Wills.