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Charleston Estate Planning & Asset Protection Blog

Monday, July 30, 2018

8 Common Asset Protection Myths That May Be Hurting Your Family

Too often, we see families come to us after a loved one has passed, asking us what they can do to protect the assets left behind without a will or trust telling them who gets what. Failing to have an estate plan in place can leave your loved ones feeling lost and confused – often thinking that the government is going to take everything away from them. This is a common estate planning myth that gets passed around, among many.

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Monday, July 9, 2018

Irrevocable vs. Revocable Trusts - Which Type is Right for Me?

There are several different types of trusts you can choose to use as part of your estate plan and retirement plan. The benefits of a trust are numerous, including protecting assets, avoiding property, providing for incapacity, and protecting property from creditors. Before you choose the type of trust to use as part of your plan, you should consult with a...

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Wednesday, June 13, 2018

What is a Beneficiary Defective Inheritor's Trust?

One of the purposes of estate planning and retirement planning is asset protection. Regardless of what you intend to do with your assets after your death, you want to protect those assets that you have worked very hard to accumulate. Our South Carolina asset protection lawyers have extensive experience assisting clients in developing a plan that accomplishes their goals for retirement, inheritance, or incompetency while providing the best protection of assets possible under the law.

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Thursday, June 7, 2018

What Does it Mean to Administer a Trust?

Trusts are an effective tool used by many people as part of their estate plan and retirement plan. With a trust, you can protect assets from your creditors, avoid probate, protect assets from the beneficiary’s creditors, and eliminate or reduce estate and gift taxes. However, a key element in any trust agreement is the appointment of a trusted person to act as the trustee. The trustee administers the trust.

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Tuesday, May 22, 2018

Five Estate Planning Tips for Millennials

Estate planning is one of the most overlooked aspects of personal finance, especially for Millennials. Millennials may believe they are too young to worry about an estate plan or they do not have enough wealth to justify spending the time and money to develop an estate plan. Unfortunately, families who suffer the tragic loss of a family member must also bear the financial and emotional burden of dealing with his or her finances if an estate plan was not executed before death. Regardless of your age, you should consult with a

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Friday, May 18, 2018

Five Things You Didn't Know About Family LLCs

Determining the best way to protect your family’s assets so that they can be passed down to the next generation can be difficult. It can also be difficult to decide how to form a family business that will allow the business to grow and flourish while protecting the interests of family members in the business. A South Carolina Family LLC may meet all your goals for

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Tuesday, April 24, 2018

What is an IRA Trust?

Individual Retirement Accounts (IRA) are used by many people as part of retirement planning. An IRA allows a person to benefit from tax-deferred retirement savings even when they are not covered under an employer-sponsored retirement plan such as a 401k program. IRAs are also used to transfer retirement plan assets (IRA rollover) if an employee is terminated or leaves the company.

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Tuesday, April 17, 2018

What Are the Advantages of a Community Property Trust?

When it comes to estate planning, it is common to hear people tell you “you’ve got to have a trust!” While this may be true, what is missing from this statement is the fact that there are many different kinds of trusts available. Some people make the mistake of running out and obtaining a do-it-yourself-trust that offers little or no protection for their situation. In many cases, a community property trust may be the best option for you and your family.

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Wednesday, March 21, 2018

Estate Planning With a Will

What are the Basic Steps to Estate Planning with a Will?

Nobody likes sitting down and thinking about what will happen when they are gone. Many people think that estate planning is a long and complex process. Knowing the basic steps that it takes to draft a will can help take away some of that anxiety and get you closer to drafting a will that will give you the peace of mind you and your family deserve.
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Wednesday, March 14, 2018

Is a Handwritten Trust Legal in South Carolina?

A trust is a vital part of an estate plan. They give you the ability to legally keep assets safe after death until they are ready to be distributed. Many people set up a trust so they can leave assets to children who might be minors. They are also set up so an inheritance can be passed down to children at separate intervals in their lives. Trusts are also advantageous because they are private and do not have to be shown to a probate court.
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Thursday, February 15, 2018

Top 5 Characteristics of a Great Trustee or Executor

Congratulations! You are setting up your will or trust to make sure your loved ones get the assets you want to give them one day when you pass on. You put a lot of thought into who will receive which items, but you still have a critical decision ahead. No matter how well thought-out your estate plan is, if you make a poor choice of the person who will administer your estate, your lovely intentions could all be for nothing. To help you in making your selection, talk with an experienced

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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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