If you have a Living Trust do you also need a will?
- David Greene
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That is a good question and the answer is: maybe or maybe not! If you have truly transferred all of your assets into your trust, then you do not need a will because no asset is in your name. However,…
What is a Dynasty Trust and how does it work?
- David Greene
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Many of my clients tell me they do not want to give their child a sizeble inheritance, only to have it disappear in a bad divorce or bad business deal. They ask if and how they can protect their chilren’s…
What is a Trust Protector?
- David Greene
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Last month some of the best legal and financial planning minds in the country met to discuss the direction of estate planning and how to help average citizens such as you and I keep our assets and pass them on to…
Is there anything wrong with buying a fill-in-the-blank will or trust from the office supply store?
- David Greene
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I highly discourage buying and using these kinds of packages. Why? First, they may or may not contain all of the language and signing requirements necessary in South Carolina. Second, they do not give you the latitude in making your…
If one forgets to change a beneficiary after divorce, can it be amended after his death for good cause?
- David Greene
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Unfortunately beneficiary designations cannot be amended after the death of the policy or account holder, even if it is clear he did not intend for the listed beneficiary to receive the benefits. The Supreme Court has heard several similar cases…
Is a trust only for the very rich?
- David Greene
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A good trust is definitely not only for the very rich. 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 do you transfer a piece of property after the probate estate of the owner is closed?
- David Greene
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The only way to transfer real property owned by a deceased person is to go through probate and obtain a Deed of Distribution. If the estate has already been closed, you must file a Petition to reopen the Estate based…
Some Thoughts on the Fourth
- David Greene
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Did you have a Grand Fourth of July? I hope you did and I hope you not only celebrated our independence but also remembered all those who have fought and died for our country and those who today are in…
Learn about important tax considerations following a spouse’s death.
- David Greene
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There are four important tax considerations one needs to consider following the death of a spouse. First, if you haven’t already filed your income tax return, you can still file a joint tax return for the year in which the…
What are the most important advantages to having a Revocable Trust?
- David Greene
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The most often stated advantage to havihng a Revocable Trust is that it will help the family of the deceased avoid probate However, there are certainly other advantages as well. First, a revocable trust can help insure passing of assets…