New Year Thoughts
- December 29th, 2020
- David Greene
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As most of you know, the majority of my practice is dealing with IRS problems and Estate Planning. Today I want to pass along some thoughts about both of those areas. Even as the COVID-19 pandemic rages on, our problems…
If I have a Power of Attorney do I need a will?
- August 7th, 2020
- David Greene
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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?
- July 2nd, 2020
- 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…
Is a Trust only for the very rich – Part 2?
- August 7th, 2019
- David Greene
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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?
- July 30th, 2019
- David Greene
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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?
- May 29th, 2019
- David Greene
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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?
- September 25th, 2018
- 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 go through probate and obtain a Deed of Distribution. If the deceased died more than ten years ago, a…
What type of documents should I be considering for my Estate Plan?
- March 22nd, 2018
- 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…
Is an irrevocable trust better than a revocable trust?
- February 27th, 2018
- David Greene
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The answer is that one is better for some and the other is better for some. It depends on what you want to accomplish with the trust. Many advantages are common to both, such as: (1) both will avoid probate…
Does the new tax law eliminate inheritance taxes?
- February 1st, 2018
- David Greene
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With the new Tax Reform beginning to take effect, there is still a large amount of uncertainty when it comes to what changes are taking place and when they come into effect. When it comes to the Estate and Generation…