Do You Need to Update Your South Carolina Estate Plan Before Year End?

Do you need to update your South Carolina estate plan before year end?  As the year 2023 fast approaches, are you busy trying to finish all of your end of the year plans? Are you including taking an inventory on what has happened this year, reflecting on your goals for the coming year, and deciding what you want for next year, your future and well beyond?

As you review your past year and anticipate the future, what goals have you set for yourself, your loved ones, and your legacy?  We encourage you to take the time to not only think about the immediate issues that must be completed before the end of the year, but that you also think about what the future may hold for you. As part of those issues to address, we highly recommend you consider either completing or updating your South Carolina estate plan with your experienced South Carolina estate planning attorney.

So the question is, have you created your South Carolina estate plan? If your answer is yes, the next question is, has it been recently updated?  If not, how should you begin to update your South Carolina estate plan? We would like you to read and consider the following ten questions to be sure that you have the peace of mind that comes from a good and up to date South Carolina estate plan in place. Also, add to this list any questions you may have.

 1. If you become incapacitated for any reason and are not able to make decisions for yourself, who will make them?

 2. Do you currently have an out-of-state estate plan? Have you thought about whether your out-of-state estate planning documents are valid and acceptable in South Carolina?

 3. If you are not able to handle your business affairs, who would do it?

 4. If you are hospitalized, who would take care of your pets?

 5. Are you planning to have your adult children in charge of your finances?

 6. Do you have enough insurance? 

 7. Will your retirement plans be able to support you as you age?

 8. Do you know if you have a taxable estate?

 9. Does your accountant or investment advisor recommend you make gifts?

10. Have there been any changes in your family structure, for example births or marriages, that require the need to update your estate plan?

In our law office we often hear questions like the above from our clients and their family members. When it comes to South Carolina estate planning, you need to know your plan will work when you need it to. 

We want to help you and your family answer your questions. We are your local, experienced, law firm!  At Jabber & Isaac, we are dedicated to providing the best legal counsel in a caring and compassionate way. If you are looking for a premier law firm in the Midlands area of South Carolina, look no further than Jabber & Isaac. To learn more about our firm, we encourage you to contact us today to schedule an appointment to meet with one of our attorneys.