At Parker Law, LLC we know that financial security and peace of mind are important to our clients. This is why our law firm delivers thorough estate planning services for families, couples, and individuals. By considering these matters now, and taking the time to plan before the estate holder passes, you can go a long way toward eliminating friction, controversy, or confusion in the event of a serious medical condition or an unthinkable tragedy.
Attention to detail is crucial when it comes to estate planning. Disputes from family members regarding the validity of a will, or errors and oversights in drafting or recording estate planning documents, can cause a delay with the settlement of an estate and hold it up in probate court. The simplest and best way to avoid such issues is to allow Parker Law, LLC to put our experience to work as your Columbia, SC probate lawyer to avoid such mistakes from the beginning.
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What Is Estate Planning?
When a person passes, they leave behind an estate that must be managed and distributed. This consists of all real estate and personal property owned by an individual at the time of their death.
Estate planning is a term used to describe the process of formulating an effective strategy and setting goals to make sure that a client’s wishes are met in the event of incapacity or death. The conversation often includes the management, protection, and transfer of their assets, which may include vehicles and tools such as Wills, Trusts, Healthcare Power of Attorney, Durable (Financial) Power of Attorney and Living Will.
What Services Does A Columbia Estate Planning Lawyer Offer?
People regularly contact us and state that they need “just a Will.” What they fail to realize is that “just a Will” may not be sufficient if assets (bank accounts, houses, cars, etc.) are not titled correctly or if they have other goals and concerns that “just a Will” may not address.
There are several tools including, but not limited to, Wills that allow families to preserve wealth to be passed on to heirs and beneficiaries, and honor the wishes of the estate planner after their passing.
Wills
A Will is a legal document that provides terms and instructions regarding the division of a person’s property after death. Only a validly executed Will can be binding. The writer of the Will is considered to have passed away intestate if a Will is disputed determined to be invalid. When an individual passes away intestate, South Carolina law provides for intestate succession rules. This means the order of distribution in which an estate will distribute among beneficiaries. In this situation, the process of handling the estate is overseen by a probate court.
Trusts
Trusts provide an individual with the option to place their possessions in the care of a Trustee, which can be the individual or a third-party. Trusts can be used to accomplish goals or resolve concerns, such as providing privacy, avoiding probate, providing a seamless transition of management, protecting assets for the benefit of minors, etc.
Power of Attorney and Advanced Directive
In the event of incapacity, the power of attorney and advanced directive documents are important to allow for a person’s wishes to be carried out before their death. These documents include a Health Care Power of Attorney, Durable (Financial) Power of Attorney and a Living Will.
The kind of tool selected will depend on numerous scenarios that relate to a client’s needs and financial circumstances.
Why Consider Estate Planning?
Many clients often consider planning for death. However, planning for incapacity can be just as important. No one wants to have their family involved in a lengthy and expensive court action if decisions must be made on their behalf because they become incapacitated. It is much more efficient to spend the money now to make sure a plan is in place with a Living Will or Power of Attorney documents.
There are many factors that prevent families and individuals from preparing estate plans after their passing. First, death and what happens to our worldly possessions after we die is an uncomfortable topic. Thus, understandably, people tend to avoid the conversation until the time is at hand.
A second reason most commonly found is avoiding conflict. Usually determining a division of assets between children or other loved ones involves the awkward question of how to distribute their estate without starting a quarrel among those left behind.
Lastly, there is a common misconception that estate planning is only for complicated or large estates. To the contrary, estate planning is beneficial for estates of all sizes, with many solutions designed explicitly for smaller estates.
Why Avoid Probate?
Avoiding probate is one of the most important aspects of estate planning that must be considered. Experienced estate planning attorneys will plan an estate so that probate court administers either very few of the estate’s assets, or even better, none at all. All assets that pass-through intestacy or a Will are considered probate assets. Any assets such as,, payable at death accounts, joint tenancy with right of survivorship assets, life insurance with a beneficiary, or Inter Vivos Trusts, will likely be considered non-probate assets.
Call A Columbia Estate Planning Lawyer Today
Parker Law, LLC knows that you deserve for your hard-earned assets to be transferred properly, managed, and protected based on your instructions and wishes. Only experienced and effective estate planning attorneys can give you the peace of mind to make sure that happens.
We fight to avoid the deviation from your instructions and reduction of assets by working to avoid probate court whenever appropriate for our client’s estates.
If you or your loved ones need estate planning, Parker Law, LLC can offer experienced guidance for your estate. To begin the process, call Parker Law, LLC and request an appointment. We will send you an initial packet that you will need to complete and return prior to your first appointment. Call our Columbia office at (803) 918-5094.
Practice Areas
- Estate Planning Lawyer
- Estate Administration Lawyer
- Estate Litigation Attorney
- Probate Litigation Attorney
- Fiduciary Appointments
- Trust Administration and Litigation Attorney
- Life Insurance Claim Lawyer
- Conservatorship and Guardianship
Get Your Free Case Consultation
No upfront costs to you or your family. We strive to recover maximum allowable compensation for our clients.
Parker Law
We don’t just provide a boilerplate, cookie cutter solution. When you schedule a consult, we will have a detailed and thorough conversation to make sure that you get the help that you need. When you sign with us, we make sure that you understand what’s going on every step of the way. Call us today.
