Here are some necessary components often omitted or wrongfully used in do-it-yourself wills
- David Greene
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(1) you need two witnesses, (2) A Notary Public must notarize the testator’s signature, (3) Neither the witnesses nor the Notary can be a beneficiary of the will, (4) A will should always be typed on a computer to avoid…
Pitfalls to avoid in Estate Planning
- David Greene
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Everyone should review her Estate Plan every two or three years. The beginning of the new year is a good tinme to do that. Here are some pitfalls to avoid. (1) Check your beneficiaries on your trust, will and financial…
How is real property owned by a deceased person transferred if no probate estate was ever opened?
- David Greene
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The only way to transfer real property owned by a deceased person who died less than ten years ago is to open or reopen a probate estate and obtain a Deed of Distribution. If the deceased died more than ten…
Is a Personal Representative responsible for estate tax debts?
- David Greene
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Before I answer this question, I want to remind everyone that spammers are sending out emails saying they are the IRS and asking for your Social Security number. The IRS never communicates with taxpayers by email. Throw these emails in…
What type of documents should I be considering for my Estate Plan?
- David Greene
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When people typically think of estate planning, the first thing that comes to mind is how they can control their assets after death. When considering this, most individuals come in to see us wanting to create some type of will…
How can one avoid a will contest?
- David Greene
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It is very hard to be successful in a will or trust contest. However, many disappointed heirs file such contests every year. Here are some planning tips to hopefully avoid that headache and heartache for your heirs. (1) If you…
Does a trust protect one’s assets against judgment?
- David Greene
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Whether or not assets in a trust are protected from judgment creditors depends on the kind of trust. The most popular trust is the Revocable Living Trust. Usually, the maker of the trust is also the trustee, so he retains…
How Are Taxes Handled In Probate?
- David Greene
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Two kinds of taxes can arise during probate. One is the estate tax which does not come into play unless the estate is worth more than $11 million. These taxes, which can be at a rate of 50% or more,…
How are income taxes filed for a deceased person?
- David Greene
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When a spouse dies, assuming the couple filed as Married Filing Joint, the surviving spouse will still file a joint return for the year in which the spouse died. A death certificate must be attached to the return. For this…
What is a spouse’s rights to a deceased spouse’s estate if not named in the will?
- David Greene
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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…