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Trust Attorney Sullivan’s Island SC
Trust Attorney and Estate Planning paperwork in Sullivan's Island SC

Prepare for Your Family’s Future with a Trust Attorney for Sullivan’s Island SC

As we get older and continue to see our family grow, there comes a time where we must consider preserving what matters the most: a future for our families. However, preserving that future takes more than setting a few valuables aside for spouses or children to inherit. You must put a legal plan in place for a complete and reliable transfer of assets or wealth after your passing. And with the help of a trust attorney for Sullivan’s Island SC, you can put your plan in place. Talk with Buxton & Collie, LLC to discuss your options for estate planning.

What’s a Trust?

Creating trusts is an essential component of most estate planning. While trusts share similarities with wills, they offer more protection from probate law. More specifically, a trust is an agreement or relationship in which the trustor (you) grants trustees (friends, family, relatives, etc.) the right to property and assets.

Trust Categories

Trusts typically fall into six categories: living, testamentary, funded, unfunded, revocable and irrevocable.

  • Living or Testamentary – A living trust or a testamentary trust deals with assets either while the trustor is still living or has passed away. Living trusts are set up to continue to be accessed while the trustor is still alive. After the trustor dies, assets under the living trust transfer to beneficiaries. Conversely, a testamentary trust only benefits the trustees after the trustor’s death, preventing assets from being used while the trustor still lives.
  • Funded or Unfunded – A funded or unfunded trust is precisely how it sounds: whether your trust has funding behind it or not. Ideally, your trust agreement will be funded to pass on wealth and assets to beneficiaries after your death. However, if your trust remains unfunded, your assets become subject to probate.
  • Revocable or Irrevocable – With a revocable trust, the trustor can make changes at any point during their lifetime. For example, if you want to increase assets, add beneficiaries, or divide property differently, you can make these changes. However, if your trust is set up as irrevocable, such changes cannot be made. You set up your trust once, and it remains unchanged until your passing.

How Does Buxton & Collie Help?

As your trust attorney for Sullivan’s Island SC, Buxton & Collie assist in creating and implementing your trust, and making sure it is a thoughtful part of your overall estate plan.

Trust Attorney Going Over Contract with Couple in Sullivan's Island SC

Call Today

Creating trusts is only one part of estate planning. However, if trusts are where you start, you can count on Buxton & Collie, LLC as your go-to trust attorney for Sullivan’s Island SC. For assistance with legal matters outside estate planning, such as real estate law or business law, call us today at 843-606-2397. Also, we are located at 940 Johnnie Dodds Blvd, Ste 100, Mt. Pleasant, SC 29464.