Begin Estate Planning in James Island SC with Help from Buxton & Collie
It’s already stressful enough to deal with the aftermath of a loved one’s passing. While a necessary next step after one’s death, probate law can become incredibly time-consuming and frustrating. However, through estate planning for James Island SC, you can take much of the pain out of the probate process. Allow Buxton & Collie, LLC to be your guide when it comes to establishing wills and trusts before it’s too late.
Essential Parts of Estate Planning
Estate planning is meant to protect your wealth and assets, put them into the hands of your family, and ensure there’s a plan in place if you pass away or become incapacitated. As far as estate planning goes, these are some of the most crucial components:
- Wills and Trusts
- In drafting wills or trusts, you set out specific instructions for the distribution of your estate upon your passing. Wills are more general in that they ensure a division of assets amongst beneficiaries based on your preferences. Trusts go a step further to help limit the impact of estate taxes or provide specific requirements for releasing your assets to beneficiaries.
- Power of Attorney
- For your power of attorney, you can clearly define who you’d like to be in charge of your health or finances in a scenario where you become incapable of making decisions yourself. You can grant power of attorney to a family member, friend or personal attorney. And if you don’t establish power of attorney ahead of time, your health and finances are in the hands of the courts.
- Other Important Factors
- Throughout estate planning in James Island SC, your attorney will also help you establish an inventory of assets, a list of beneficiaries, guardianship designations and more. The goal is to ensure you and your loved ones are completely prepared in the unfortunate scenario of your passing.
In addition to estate planning for James Island SC, Buxton & Collie, LLC takes on various other legal practices to best serve individuals and businesses alike. For example, our attorneys cover real estate law, business law, private equity, dental law and more. If you’d like to discover how our law firm can best assist you, call us today at 843-606-2397 to request a consultation. Also, we are located at 940 Johnnie Dodds Blvd, Ste 100, Mt. Pleasant, SC 29464.