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Revocable Trust James Island SC
A woman discussing a Revocable Trust in James Island SC with an attorney

Learn More About a Revocable Trust in James Island SC

While estate planning isn’t an “exciting” prospect for most, it’s something that’s becoming increasingly necessary for families and individuals to do. Whether looking to have a will written or wishing to establish a revocable trust in James Island SC, some legal professionals can assist you with the process. Buxton & Collie, LLC is one such law firm with over ten years of experience assisting South Carolina Residents with estate planning services.

Revocable Trusts: What Are They?

A revocable trust acts similar to your average trust, where the grantor (you) gives a trustee the right to manage and hold assets to benefit beneficiaries. Upon their creation, trusts stay active but only apply upon the death of the grantor. When the grantor passes, the trustee helps divide property and assets to beneficiaries according to the stipulations established in the trust. However, revocable trusts differ from other trusts in their ability to be adjusted or changed by the grantor at any point in their life.

Advantages of a Revocable Trust

While there are plenty of options for securing and distributing your assets through estate planning, revocable trusts offer unique benefits:

  • Flexibility – For those unsure about where they will be with family and finances a few years from now, revocable trusts offer flexibility when planning. Especially for those who are still young, a revocable trust allows grantors to adjust beneficiaries, assets and provisions at any time.
  • Avoids Probate – To verify a will after the passing of a loved one, it goes through the probate court. A judge and probate attorney will evaluate assets and assist in their distribution. Conversely, a revocable trust does not go through probate, meaning you save time and money otherwise spent on the probate process.
  • Private – In addition to your trust not proceeding to probate, it does not enter the public record. When a will goes through court, its contents are made public. However, as your trust does not need to go through probate, everything in it stays between your attorney, the trustee and beneficiaries.
  • Control – Through a trust, you can include provisions that dictate how, when and to who your assets go. Provisions could release assets dependent on beneficiaries’ ages, whether they must be used for education, if a portion must be donated to charity, etc.
Paperwork for a Revocable Trust in James Island SC

Legal Guidance Through Buxton & Collie

A revocable trust for James Island SC residents isn’t the only part of estate planning our law firm can assist with. Furthermore, we provide additional legal services meant to support individuals, families and businesses alike. For example, our practice areas include:

Talk with Our Team

Discover the benefits of establishing a revocable trust in James Island SC with the help of Buxton & Collie, LLC. TO learn more, contact us today at 843-606-2397 for a consultation. Also, we are located at 940 Johnnie Dodds Blvd, Ste 100, Mt. Pleasant, SC 29464.