Posts Tagged ‘Probate’

Is a Personal Representative responsible for estate tax debts?

  • March 28th, 2023
  • David Greene
  • Comments Off on Is a Personal Representative responsible for estate tax debts?

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?

  • February 28th, 2023
  • David Greene
  • Comments Off on What type of documents should I be considering for my Estate Plan?

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…

Can a spouse change his spouse’s will after he/she dies?

  • May 23rd, 2022
  • David Greene
  • Comments Off on Can a spouse change his spouse’s will after he/she dies?

First let me remind everyone that each person must have his or her own will.  A husband and wife cannot have a joint will.  In short, a will cannot be changed or altered by anyone after the maker of the…

What is a Grantor Trust?

  • November 9th, 2021
  • David Greene
  • Comments Off on What is a Grantor Trust?

To be a grantor trust, the trust must meet specific rules set out in the Internal Revenue Code. There are several but the one that is used most frequently is that the grantor retains the right to remove assets from…

How can one avoid a will contest?

  • November 2nd, 2021
  • David Greene
  • Comments Off on How can one avoid a will contest?

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…

How can one protect assets held in trust from creditors?

  • October 27th, 2021
  • David Greene
  • Comments Off on How can one protect assets held in trust from creditors?

In my last blog I stated that a revocable trust will not protect against creditors.  However, there is a solution: the Irrevocable Trust.  In this trust, the maker of the trust generally cannot be the trustee, so a great deal…

Does a trust protect one’s assets against judgment?

  • October 20th, 2021
  • David Greene
  • Comments Off on Does a trust protect one’s assets against judgment?

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?

  • September 9th, 2021
  • David Greene
  • Comments Off on How Are Taxes Handled In Probate?

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,…

Should an IRA or 401k be transferred into a trust?

  • August 25th, 2021
  • David Greene
  • Comments Off on Should an IRA or 401k be transferred into a trust?

It is definitely not a good idea!  If you put your IRA or other qualified retirement account into your Living Trust, the IRS will consider it as a distribution and you will be taxed on the entire amount immediately.  There…

Page 1of 5: 1 2 3 ... 5

Office Location

11 McGee Street
Greenville, SC 29601

Phone: (864) 271-7940
Fax: (864) 370-3413
Toll Free: 1-800-216-1116