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Moncks Corner Estate Planning Attorney

Moncks Corner, situated in Berkeley County, South Carolina, was founded in 1728 and named for landowner Thomas Monck. Originally settled by indigenous peoples, Moncks Corner has been occupied by the Algonquan, Sioux, Iroquoi, and Cherokee tribes, as well as English and French settlers during the colonial era. Today, Moncks Corner is well-known for its hospitality and outdoor activities such as horseback riding, hiking, water sports, boating and freshwater fishing. 

What began as a trading post with a few stores and taverns is now home to more than 7,800 people from all walks of life who have different financial objectives. At Wiles Law Firm, LLC, our estate planning practice provides trustworthy advice to residents of Moncks Corner when they need it most. Whether you need assistance drawing up a will or revisiting an existing estate plan, our objective insights will help you make the best decision for your future and your family. 

Estate Planning Options in Moncks Corner, South Carolina

The estate planning attorneys at Wiles Law Firm, LLC know that no two individuals or families are identical; each has unique circumstances and needs. As such, we don’t believe there is a “one-size-fits-all” estate plan. At the same time, all well-designed estate plans should include, at a minimum: a will, a durable power of attorney, and a healthcare proxy.

A will is the most basic estate planning document. It establishes how your property will be managed and distributed after your death. Additionally, a will is the only way to designate guardians for your minor children. If you don’t have a will in place, the court will intervene to make decisions that may not agree with your wishes. 

Beyond planning for the distribution of your assets, incapacity planning is another critical aspect of estate planning. With a durable power of attorney, you can name a trusted person to manage your personal and financial affairs should you become unable to do so. A healthcare proxy is another type of power of attorney that is often referred to as an advance directive for healthcare. This document allows you to appoint an agent to coordinate your medical care if you sustain an illness or injury and cannot make these decisions independently. 

Why You Should Consider Trusts in Your Estate Plan

Many clients of Wiles Law Firm, LLC have benefited greatly from establishing trusts. Generally, there are two types of trusts, revocable living trusts and irrevocable trusts. A revocable living trust takes ownership of your property while allowing you to continue managing it during your lifetime. Because you no longer own the assets, a trust is not required to be probated, which makes the final asset distribution to the beneficiaries more cost-effective and private.

An irrevocable trust is one that becomes effective during the trustmaker’s (the grantor’s) life and cannot be amended, modified or revoked. Property that is transferred remains in the trust permanently, and the grantor no longer has legal ownership of it. Instead, a trustee is named to manage the assets for the benefit of the beneficiaries. The main benefits of irrevocable trusts are that they minimize estate taxes, avoid probate, and protect your assets from creditors’ claims.


Asset Protection in Moncks Corner

If you own a closely held business or professional practice, you likely have concerns about protecting your business and personal assets from external threats such as creditors’ claims and lawsuits. We will advise you on all of your asset protection and preservation options, starting with selecting the appropriate business formation, such as a Limited Liability Company (LLC). There are a number of benefits to establishing your business as an LLC, not the least of which is that it protects your assets through limited liability. An LLC can also afford you the opportunity to protect your personal assets, such as a home or savings, from creditors’ claims. When you work with our estate planning attorneys, you can rest assured we are committed to helping you protect your assets, your legacy, and your loved ones.

Contact Our Moncks Corner Estate Planning Attorneys

At Wiles Law Firm, LLC, we are highly regarded for providing communities in Moncks Corner and throughout the Charleston area with first-rate legal representation and caring, personal service. When you become our client, we will take the time to understand your financial goals and help you establish an estate plan that suits your unique needs. Knowing that confronting our own mortality is never easy, we will take the stress out of the process so that you can plan your estate with confidence. Please contact our office today to set up a free consultation.

Wiles Law Firm, LLC helps clients with their estate planning needs in Charleston, South Carolina and the surrounding areas such as West Ashley, Summerville, North Charleston, Mount Pleasant, and John's Island.

Information on this website is not legal advice. Further, viewing of the enclosed information does not create an attorney-client relationship with Wiles Law Firm, LLC. Matters will be handled by attorneys who primarily practice out of our office in Charleston County located at 852 Lowcountry Blvd., Ste. 101, Mt. Pleasant, SC 29464. M. Emerson Wiles, III is the attorney responsible for this advertisement.

Any result Wiles Law Firm, LLC may achieve on behalf of one client in one particular matter does not necessarily indicate similar results can be obtained for other clients. Please contact a South Carolina estate planning attorney or one of our attorneys with Wiles Law Firm, LLC for a consultation regarding your unique estate plan.

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852 Lowcountry Blvd., Suite 101, Mount Pleasant, SC 29464
| Phone: 843-718-0232

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