Holiday Greetings
- David Greene
- Comments Off on Holiday Greetings
This is the week of Christmas and it comes as no other Christmas week I can remember. There is always joy, laughter and anticipation at Christmas time, but this year it seems muted as we all have been affected in…
What happens to money in a Special Needs Trust when the trust beneficiary dies?
- David Greene
- Comments Off on What happens to money in a Special Needs Trust when the trust beneficiary dies?
There are two kinds of Special Needs Trust, the First Party trust and the Third Party Trust. The First Party Trust contains money and assets in the protected person’s name, e.g. from a car wreck. The Third Party Trust is…
If I have a Power of Attorney do I need a will?
- David Greene
- Comments Off on If I have a Power of Attorney do I need a will?
A Power of Attorney and a will are not related and one has no effect on the other. A Power of Attorney has legal validity only during a person’s lifetime and a will has legal validity only after a person…
What is a spouse’s rights to a deceased spouse’s estate if not named in the will?
- David Greene
- Comments Off on What is a spouse’s rights to a deceased spouse’s estate if not named in the will?
A spouse not named in the deceased spouse’s will is called an omitted spouse. In South Carolina our Probate Code provides for an omitted spouse. He is entitled to a spousal share of the estate by law. That share is…
What is the difference between a Power of Attorney and a Conservatorship? Part 2
- David Greene
- Comments Off on What is the difference between a Power of Attorney and a Conservatorship? Part 2
As I stated last week these are two legal powers that, in many instances, accomplish the same purpose in two completely different ways. I discussed the Power of Attorney last week and will cover the Conservatorship today. A person who…
What is the difference between a Power of Attorney and a Conservatorship?
- David Greene
- Comments Off on What is the difference between a Power of Attorney and a Conservatorship?
These are two legal powers that, in many instances, accomplish the same purpose in two completely different ways. I’ll discuss the Power of Attorney today and the Conservatorship next week. There are several kinds of Powers of Attorney but the…
Is a Trust only for the very rich – Part 2?
- David Greene
- Comments Off on Is a Trust only for the very rich – Part 2?
I mentioned that the three primary reasons for forming a trust are (1) avoidance of probate, (2) asset protection from creditors and (3) the ability to control your assets and how they are used for a long time after your…
Is a Trust only for the very rich?
- David Greene
- Comments Off on Is a Trust only for the very rich?
Absolutely not! People create trusts for different reasons. The three primary ones are (1) avoidance of probate, (2) asset protection from creditors and (3) the ability to control your assets and how they are used for a long time after…
What are some of the most common Estate Planning errors that are made?
- David Greene
- Comments Off on What are some of the most common Estate Planning errors that are made?
There are many mistakes that are made in developing your Estate Plan, but here are some of the most important: (1) failing to name a contingent beneficiary on wills, insurance policies, etc., (2) not reviewing your beneficiary designations on a…
How do you transfer a piece of property after the probate estate of the owner is closed?
- David Greene
- Comments Off on How do you transfer a piece of property after the probate estate of the owner is closed?
The only way to transfer real property owned by a deceased person who died less than ten years ago is to go through probate and obtain a Deed of Distribution. If the deceased died more than ten years ago, a…