Estate planning is a big step for anyone to take, no matter where you’re at in life. However, that first step into planning doesn’t have to be complicated! With simple wills in Kiawah Island SC, you can establish some direction concerning your estate, inheritors and more. And when searching for a law firm that can help you with the initial setup of your will and future estate planning, look no further than Buxton & Collie, LLC.
For some, a simple will is needed to provide the best directive for handling affairs after one’s passing. Through your will, you can establish guardianship for children, beneficiaries of your wealth and property, an executor of your estate, specific funeral arrangements, and more.
Many individuals go all their lives without at least establishing a simple will. However, not having legal documentation to designate the handling of your assets can have far-reaching consequences for your family after your passing. As such, it’s essential to do a minimum amount of estate planning and have a will written.
As convenient as it can be to set up a will, there are also some downsides to having that be your only piece of estate planning. For instance, a will is still subject to public records. In other words, even with a will, your estate must go through the probate process. And while a will gives probate court a template for managing your estate, property taxes and fees can quickly eat into what assets are left. As such, Buxton & Collie may recommend establishing a trust, where you can often set aside all or a portion of your estate for beneficiaries, with reduced taxation and avoidance of probate court.
Other types of wills are also beneficial, depending on how much you wish to cover. For example, a living will and power of attorney can put control of your health and wealth into the hands of a trusted friend or family member. Such a will might be necessary if you are dealing with significant health issues and fear you’ll become incapacitated to a point where you cannot make decisions for yourself.
The best way to discover if simple wills in Kiawah Island SC are suitable for you and your family is to discuss your estate planning options with the Buxton & Collie, LLC team. Or, to learn more about the additional legal practices we cover, such as real estate law or business law, contact us today at 843-606-2397. Also, we are located at 940 Johnnie Dodds Blvd, Ste 100, Mt. Pleasant, SC 29464.