Did you know that one in two U.S. citizens have yet to create a plan for their estate? Just about everyone knows they need to get their affairs in order, but most people procrastinate when it comes to estate planning. It's an uncomfortable subject to think about. After all, nobody wants to ponder their death and what happens to their assets when they pass. However, working with an estate planning lawyer in Columbia, SC, protects you, your loved ones, and your assets, both while you're alive and after you have died. There isn't a perfect time to plan your estate, but there is a right time and that time is now.
We understand that there is no "one-size-fits-all" solution to your estate planning needs. That's why, at Cobb Hammett Law Firm, we make a concerted effort to speak with our clients personally so that we can create an estate plan that is as unique as they are. Our estate plans are comprehensive, cost-effective, and catered to you. That way, your family is provided if you are incapacitated or pass away.
At the end of the day, our goal is to make sure that every one of our clients leaves our office feeling less stressed and more informed. Peace of mind is valuable currency these days. Why worry about the future of your loved ones when you can use South Carolina law to ensure their stability?
Many of the clients in Columbia that walk through our doors have significant questions that require serious answers. They're filled with doubt, stress, and worry. They're worried about their children, their spouse, their relatives, or all the above. They ask questions like:
If these questions sound familiar, know that you are not alone. At Cobb Hammett Law Firm, we have worked with hundreds of clients just like you. Sometimes, these clients are unsatisfied with their current estate planning attorney in Columbia. Other times, they have been served with confusing papers or documents that leave them feeling overwhelmed. In either case, clients come to our office knowing they need to manage what is often a sudden, foreign situation.
The good news? We sit down with all new clients for an hour at no extra cost. We do so to get a basic sense of their situation and help steer them in the right direction. That way, they can leave our office feeling a little wiser and a lot better about the future.
Our firm specializes in several areas of estate planning and family law, including:
At Cobb Hammett, LLC, estate planning is like second nature to us. Having worked hundreds upon hundreds of cases, we have the knowledge and experience to assist with all the estate planning needs that you or your family have.
As our client, you will always work directly with your attorney. We do not pass cases off to paralegals or junior associates. Because your concerns and questions don't end when our office closes, we encourage our clients to contact us at any time.
Because we limit the number of cases we accept, we have the time and resources to truly dedicate ourselves to each of our clients. Unlike some competitors, we care about the outcome of every case because we know that our clients' future depends on it.
The word "estate" might make you think of a sprawling mansion in the French countryside. The truth is, you don't have to be rich to have an estate. In fact, most people already have an estate. An estate comprises the assets that a person owns like cars, bank accounts, real estate, businesses, and other possessions. Everyone's estate is different, but we all have one thing in common: none of us can take our estates with us when we die. When that does eventually happen, you will need legal instructions that state who gets what from your estate in plain terms.That, in a nutshell, is estate planning building a framework in advance that names the organizations or people that should receive your assets after you die. Planning your estate now helps make life much easier for your family down the line.
Contrary to popular belief, estate planning isn't just for adults who are approaching retirement age. Estate planning is for everyone. After all, we're all getting older, and none of us know exactly when it will be our time to go.
Although estate planning can be complicated, a well-rounded plan makes a huge difference in what is left to your beneficiaries. Before you start planning your estate, it's important to know a few common topics that may arise as you detail your needs.
Working with a veteran estate planning lawyer is a no-brainer, but you should consider working with a tax advisor too. Your attorney's role is to help guide you through the creation of your estate planning documents. Common documents include your will, health care directives, and power of attorney. Your tax advisor will help guide you through tax issues associated with your estate planning needs.
In this relationship, you make the decisions while your attorney and tax advisor help you understand and think through the options you're considering. As a team, they will help you state your wishes clearly while minimizing mistakes and adjusting your plans as they change. Because significant savings can result from thorough, informed planning, you should seriously consider working with a tax advisor in addition to your estate planning attorney.
If there were one overriding theme of estate planning, it would be maximizing what you plan to leave behind. Thinking through how each of your assets will be distributed is crucial to your estate. Your decisions may change depending on the type of asset, its size, how old you are, and several other factors. With an attorney on your side, you will gain a thorough understanding of what actions you should take to care for your family while minimizing expenses like taxes and court fees.
One of the biggest parts of maximizing what you're leaving behind is to minimize taxes. Federal taxes on estates and gifts are incredibly high. Both forms of taxes usually have exemption limits, which means you can give up to a specific amount without being taxed. Your lawyer can achieve that by using the gift tax exemption to move assets while you are still alive. This strategy maximizes how much your beneficiaries will receive.
Inheritance taxes are often based on the value of your estate and paid prior to asset distribution to your beneficiaries.
The executor of your estate plays a key role in your affairs. Their responsibilities include carrying out the terms of your will and seeing the estate settlement process through until the end. Obviously, such a role demands a qualified person. Choosing your executor isn't an easy decision. The person you select should be great at managing money, be savvy financially, and show an ability to be patient. That's because the executor is tasked with:
If the person that you choose as executor is inexperienced with the estate settlement process, it is recommended that they lean on an estate planning attorney in Columbia, SC for guidance. It should be noted that you may appoint more than a single executor to your estate. This is common when two individuals have complementary personalities or skill sets.
One of the biggest benefits of planning your estate is the peace of mind it brings to you and your family. With the help of our expert estate planning attorneys, you have the power to protect your assets, privacy, and children's welfare. You can also potentially save money on taxes or even avoid probate. By having your wishes legally documented before death or incapacity, you can minimize any impact on your beneficiaries and take control of your legacy. Without a comprehensive estate plan, you're leaving the future of your loved ones in the hands of the South Carolina court system.
With an estate plan in place, you can plan for incapacity by using a power of attorney or advanced medical directives. Doing so relieves your loved ones of the burden of asking the court for the authority to fulfill your wishes.
At Cobb Hammett Law Firm, we are committed to helping you prepare for both the expected and unexpected through years of experience and a fierce dedication to our clients. From establishing trusts to designing business succession plans, we are here to fight for you.
If a husband and wife each purchase reciprocating will packages we give a discount. Reciprocating just means the husband names the wife and the wife names the husband. Those four documents are:
As mentioned above, everyone's estate planning needs will be different. However, most plans include one or more of the following documents:
Your will is an essential piece of documentation and is often considered the cornerstone of a proper estate plan. Generally speaking, your will is a document that dictates the distribution of your assets after your death. Having an iron-clad will is one of the best ways to make sure that your wishes are communicated clearly. As is the case with most estate planning, it is highly recommended that you work with an estate planning attorney in Columbia, SC, to create and update your will.
The contents of a will typically include:
Without a will in place, the State of South Carolina will decide how to distribute assets to your beneficiaries. Allowing the state to distribute your assets is often an unfavorable route to take, since the settlement process may not include what you had in mind for your survivors. Having a will drafted that reflects your wishes will prevent such a situation from happening.
Despite its name, a living will does not instruct your survivors on what assets go where. Also called an advanced directive, your living will allows you to state your end-of-life medical wishes if you have become unable to communicate. This important document provides guidance to family members and doctors and solidifies certain issues like whether you should be resuscitated after an accident.
For example, it's common to direct that palliative care (care to decrease pain and suffering) always be administered if needed. Conversely, you may state that certain measures are not allowed, like CPR.
Traditionally, a trust is used to minimize estate taxes and maximize other benefits as part of a well-rounded estate plan. This fiduciary agreement lets a trustee hold your assets on behalf of your beneficiaries. There are many ways to arrange a trust to specify when and how your assets are distributed.
With a trust in place, your beneficiaries can avoid going to probate. That means they may be able to gain access to your assets quicker than when they are transferred with a standard will. Assets placed in a trust can pass outside of probate, which will save you and your family time, money, and stress.
There are two distinct trust categories that you should be aware of: revocable and irrevocable.
Also called a living trust, a revocable trust helps assets circumvent probate. With this trust, you can control your assets while you are still alive. These trusts are flexible and may be dissolved at any point in time. This type of trust becomes irrevocable upon your death. Revocable trusts can help you avoid the pitfalls of probate but be aware that they are usually still taxable.
This kind of trust transfers assets out of your estate so that they are not taxed and do not have to go through probate. However, once an irrevocable trust has been executed, it may not be altered. That means that once you establish this kind of trust, you lose control of its assets and cannot dissolve the trust. If your primary goal is to avoid taxes on your estate, setting up an irrevocable could be a wise choice.
When drafted with the help of an estate planning lawyer in Columbia, SC, your trust can also:
When constructed properly, a trust can protect your estate from your heirs' creditors. This can be a huge relief for beneficiaries who might need to brush up on money management skills.
Probate records are made available for public consumption. With a trust, you may have the choice of having your assets pass outside of probate court so that they remain private. In the process, you may also save money that you would lose to taxes and court fees.
Because you can specify the exact terms of a trust, you have more control over who receives your assets and when they receive them. As an example, you can set up a revocable trust so that your assets are attainable while you're alive. When you pass, remaining assets are distributed, even in complex situations involving children from multiple marriages.
If you know that you need to provide for your family and loved ones after your death, it's time to develop your estate plan. With Cobb Hammett Law Firm by your side, planning your estate doesn't have to be difficult. However, it does need to be accurate and executed exactly to your wishes something that we have been helping clients achieve for years. Don't leave your legacy up to chance contact our office today and secure your future generations.
CONTACT USA South Carolina woman woke up Tuesday morning and went to her apartment’s bathroom where she was met by a large snake that was behind the toilet, the Richland County Sheriff’s Department said.It wasn’t a plumbing tool, and the reptile was not the woman’s pet.An incident report said the woman screamed and called for help, an understandable reaction to unexpectedly ...
A South Carolina woman woke up Tuesday morning and went to her apartment’s bathroom where she was met by a large snake that was behind the toilet, the Richland County Sheriff’s Department said.
It wasn’t a plumbing tool, and the reptile was not the woman’s pet.
An incident report said the woman screamed and called for help, an understandable reaction to unexpectedly finding a ball python at about 5 a.m. inside of an apartment in Columbia. Information on the length and estimated age of the brown and black snake wasn’t available.
Neither the woman nor the snake was hurt, as deputies who responded to Rice Terrace Apartments and Townhomes were able to extract the exotic animal, initially placing it in a pillowcase, according to the incident report.
“We were able to provide a solution to the resident quickly and save the snake’s life!” Master Deputy Alexandra Salrin told The State.
Other than possibly frayed nerves, the only damage reported was a bathroom that was flooded because of the snake, the incident report said. Information about how the snake caused the bathroom to flood was not available.
The apartment complex is at 107 Rice Terrace Drive, in a section of Columbia between Hardscrabble Road and Longtown Road, near Ridge View High School.
The woman who found the snake first called a friend, then they both reached out to law enforcement for help, according to the incident report. Master Deputy Shannon Huffman, a member of the Community Action Team, responded to the apartment, “and knew exactly what to do!” the sheriff’s department said.
Huffman has been with the sheriff’s department for almost 4 years, according to Salrin.
Huffman’s efforts were shared on social media, While it’s common for the sheriff’s department to be called to an animal-related issue, it’s unusual to have to assist in incidents involving exotic animals such as snakes, according to Salrin.
“This was definitely a unique call for service for us,” Salrin said.
Despite the unusual nature of the call, deputies are trained to deal with a variety of situations, according to Salrin.
“We prepare our deputies to expect to be called to incidents that they never expected to be dealing with and our deputies are trained to assess the situation and determine if there is another agency or specialized unit that needs to assist,” Salrin said. “Thankfully, in this situation, (Master Deputy) Huffman has experience with a variety of animals and was comfortable dealing with the snake.”
The sheriff’s department doesn’t know how the snake ended up in the apartment. Because of the size of the snake, Salrin said there is speculation that the snake is someone’s pet and may have escaped from another apartment in the complex.
“However, that cannot be confirmed because no one has come forward” to claim the snake, Salrin said.
The snake won’t be left to fend for itself, as it was taken home by one of the sheriff’s department’s Operations deputies, according to Salrin.
In a breaking news situation, facts can be unclear and the situation may still be developing. The State is trying to get important information to the public as quickly and accurately as possible. This story will be updated as more information becomes available, and some information in this story may change as the facts become clearer. Refresh this page later for more updated information.
This story was originally published November 6, 2024, 8:06 AM.
The South Carolina Gamecocks (5-3) face No. 24 Vanderbilt at 4:15 p.m. Saturday at FirstBank Stadium in Nashville, Tennessee. The game will air on SEC Network.A win would give USC six wins and bowl eligibility with three games to go in the regular season.It could be a wet afternoon in Nashville. It’s raining just before kickoff, and there’s a 70% chance of showers into the evening.Rocket Sanders scores his third touchdown of the night on a 43-yard pass from QB LaNorris Sellers. The drive went 61 yards on just...
The South Carolina Gamecocks (5-3) face No. 24 Vanderbilt at 4:15 p.m. Saturday at FirstBank Stadium in Nashville, Tennessee. The game will air on SEC Network.
A win would give USC six wins and bowl eligibility with three games to go in the regular season.
It could be a wet afternoon in Nashville. It’s raining just before kickoff, and there’s a 70% chance of showers into the evening.
Rocket Sanders scores his third touchdown of the night on a 43-yard pass from QB LaNorris Sellers. The drive went 61 yards on just two plays and lasted 1:20 and was set up by a turnover on downs.
The Gamecocks go up by two scores again with another Rocket Sanders touchdown run. Sanders scores from a yard out on a drive in which he had four carries and 49 yards.
The Commodores get on the board with a 17-yard touchdown run from QB Diego Pavia. The score capped a 10 plays, 75-yard drive that lasted 5:13.
USC got off to a quick start after half when QB LaNorris Sellers found TE Joshua Simon and receiver Jared Brown down field for big chunk plays of 20 and 51 yards respectively. RB Raheim “Rocket” Sanders then ran it in from 33 yards out. The drive lasted 1:38 and went 75 yards on three plays.
After USC recovered the fumble towards the end of the first quarter, QB LaNorris Sellers connected with receiver Nyck Harbor for a 23-yard pass. That set Sellers up to find TE Joshua Simon for a 17-yard touchdown to draw first blood for the Gamecocks.
The drive went 81 yards on 12 plays and lasted 4:45.
After the first quarter, neither team has drawn first blood. The Gamecocks went on a six-minute drive that resulted in a missed field goal by Alex Herrera.
After USC forced another Vanderbilt punt, QB LaNorris Sellers fumbled, ending his positive streak of not turning the ball over. It was forced by Miles Capers and recovered by Langston Patterson.
Vandy QB Diego Pavia fumbled it right back, forced and recovered by Kyle Kennard.
South Carolina, according to Saturday’s final availability report from the SEC, will be without RB Matthew Fuller, LB Mo Kaba, DB Buddy Mack III, OL Jakai Moore and defensive tackles Nick Barrett and DeAndre Jules.
The Gamecocks will wear garnet helmets, white jerseys and garnet pants in Saturday’s game.
South Carolina is favored by 6 points over Vanderbilt, according to the VegasInsider consensus line that factors in multiple sportsbooks. the over-under is 45 points.
This story was originally published November 9, 2024, 3:34 PM.