Estate Planning Attorney inPacolet, SC

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Securing Your Legacy in South
Carolina

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 Pacolet, 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 Pacolet 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:

  • How much does estate planning cost?
  • What kind of results can I expect?
  • How long will this process take?

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 Pacolet. 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.

Estate Planning Law Pacolet, SC
Service Areas

Our firm specializes in several areas of estate planning and family law, including:

  • Estate Planning
  • Last Will and Testament
  • Living Wills
  • Heath Care Power of Attorney
  • Living Wills
  • Irrevocable Trusts
  • Revocable Trusts
  • Retirement Trusts
  • Special Needs Trusts

The Cobb Hammett
Difference

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.

 Estate Planning Attorney Pacolet, SC The-Cobb-Dill-Hammett-Difference
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What Our Clients Say

What is Estate Planning in
Pacolet, SC?

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.

 Estate Planning Lawyer Pacolet, SC
A good estate plan covers more than fiscal assets, however. A comprehensive
estate plan should include the following:
  • If you have children who are minors, instructions as to who will be their guardian when you die.
  • Long-term care insurance if you suffer from an extended injury or illness.
  • Instructions that dictate what happens to you and your financial affairs if you become incapacitated before death.
  • Instructions on the transfer of your business after retirement, incapacity, disability, or death.
  • Instructions on how to provide for loved ones who might need help managing money or who need protection from creditors.
  • Probate and tax avoidance that help minimize court fees, taxes, and legal fees.
  • Planning Medicaid payments.
  • Instructions that help complete or update beneficiary designations.
  • Assist family members who have special needs without disqualifying them from government benefits.

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.

The Basics of Estate Planning
in Pacolet, SC

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.

1.

Working with a Tax Advisor and Estate Planning
Attorney in Pacolet, SC

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.

 Law Firm
 Pacolet, SC
2.

Maximizing
Your Estate

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.

Estate Planning Law Pacolet, SC
3.

Inheritance, Estate,
and Gift Taxes

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.

 Estate Planning Attorney Pacolet, SC

Choosing the
Executor of Your Will

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:

  • Collecting Your Assets
  • Paying Outstanding Bills
  • Submitting Tax Returns
  • Petitioning the Court for Documents
  • Distributing Assets to Your Beneficiaries
 Estate Planning Lawyer Pacolet, SC

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 Pacolet, 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.

The Benefits of Estate Planning
in Pacolet, SC

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.

At Cobb Hammett we offer a "Will Package" that includes 4 necessary documents.

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:

  • Last will and testament
  • Healthcare power of attorney
  • Durable power of attorney
  • living will

Common Documents Included
in Your Estate Plan

As mentioned above, everyone's estate planning needs will be different. However, most plans include one or more of the following documents:

1.

Will

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 Pacolet, SC, to create and update your will.

The contents of a will typically include:

  • Designation of the executor, who is responsible for adhering to the provisions of your will.
  • Designation of beneficiaries the people who will be inheriting your assets
  • Instructions that dictate how and when your beneficiaries will receive assets.
  • Instructions that assign guardianship for any minor children.

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.

 Law Firm
 Pacolet, SC
2.

Living Will

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.

Estate Planning Law Pacolet, SC
3.

Trusts

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.

 Estate Planning Attorney Pacolet, SC

Revocable Trust:

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.

Irrevocable Trust:

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 Pacolet, SC, your trust can also:

Protect Your Legacy:

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.

Privacy and Probate:

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.

Control Wealth:

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.

The Top Estate Planning Law Firm in the Lowcountry

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.

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Latest News in Pacolet, SC

Pacolet's vision for redevelopment focuses on the riverfront

PACOLET — Creating a vision and making it happen has proved difficult for the town of Pacolet, which is pushing forward with plans to redevelop areas for outdoor events in space along a picturesque riverfront that once was home to the textile mill that drove the area's economy.There's no shortage of ideas, but there's not enough money or re...

PACOLET — Creating a vision and making it happen has proved difficult for the town of Pacolet, which is pushing forward with plans to redevelop areas for outdoor events in space along a picturesque riverfront that once was home to the textile mill that drove the area's economy.

There's no shortage of ideas, but there's not enough money or resources to implement any of them.

That's always been a hurdle that town officials have worked to overcome. There was a renewed push in recent years to find alternative funding sources including grants to jumpstart new projects. What's kept the town from moving forward has been apathy among some who don't want change. But with the infusion of new residents from out of state and some long-time residents, there's been a spark created to build new partnerships for the future.

Part of that is a comprehensive plan the town adopted in 2024 — Pacolet's first in more than 20 years. Along with it came a master plan with a list of projects including installing zip lines near the Pacolet River, upgrading the amphitheater built in 1924, and adding a boardwalk and new fishing pier at an area called The Flats.

The Flats is a place where the community gathers for annual festivals and shows. That's not all that's being redeveloped. A new park is coming as soon as 2026.

The park development's momentum has stalled somewhat since the concept was hatched in 2024.

Volunteers have been busy clearing debris from the site. A park design will be presented to Norfolk Southern for consideration. Norfolk Southern owns the property and has encouraged the town to move forward with plans even giving a verbal commitment of providing funds for it.

In recent months, the project has stalled.

Pacolet Town Councilman Thomas Williams remains optimistic that the park could become a new destination for visitors. He said until Pacolet shows results the town is likely to remain stagnant with no real growth or interest from anyone looking to invest.

He's been involved in developing the park since the start.

"Norfolk Southern owns that property and we have met with them," Williams said. "They like our ideas but we have to show them we are doing something and get our ducks in a row and a plan with funding. Unless the town does something like this, we are not going to see outside people interested in Pacolet. We don't have a track record of doing a significant project without getting scammed."

Williams hopes redeveloping the Pacolet Mill Cloth Room and Warehouse will revitalize the area. But the town got burned on a former deal to redevelop that site, which is near The Flats not far from the Pacolet River.

Plans in 2014 to redevelop the space into a senior center did not pan out leading to criminal charges against Callis J. Anderson Jr. who was paid more than $500,000 in public funds with no results. Anderson was awarded a contract from 2014 to 2017 to transform the spot into something new for the community. The site sat idle with no construction, which led to town officials sounding the alarm.

A State Law Enforcement Division's investigation subsequently accused Anderson of wrongdoing. Anderson pleaded guilty to felony embezzlement, breach of trust and obtaining money under false pretenses in August 2023. He was sentenced to five years of probation on the condition he pay back $115,000 of the money he was paid.

Williams told The Post and Courier that Anderson paid the town back the money he owed.

A new developer — North Carolina-based Liles Construction — plans to redevelop the former cloth room and warehouse into mixed-use. Work should begin by early 2026. Paul Liles, Liles Construction president and CEO, initially planned to begin site work in summer 2025. He's pushed back the timeline by about six months and remains committed to the project.

The plan includes developing a mixed-use venue with retail, restaurants, a brewery and event space in a 60,000-square-foot building.

"We have an obligation to have it completed by 2028 and working with the town to make sure things are happening together," Liles said. "It's going to cost us about $4.5 million to complete the shell piece but that will be flexible depending on tenant interest as we prepare to get tenants involved."

Pacolet Town Council agreed March 6 to hire Liles Construction to also help develop a conceptual plan on what it would cost to redevelop The Flats. Liles said he expects the cost assessment to be presented to council in a few months.

Williams considers The Flats among the town's biggest assets.

The property is still owned by Milliken and Co., which lends itself to a few hurdles. The town can't redevelop the area without approval.

"It needs to be a top priority but people are nervous about the price tag that is why we are going through this contract (with Liles Construction)," Williams said. "We have run through a list of potential grants but no money has been lined up. The complicated part is that it's not our property. It's Milliken's property and we have to have something ready to go before Milliken which is going to be a daunting undertaking."

There's been new business coming to town.

During the past year, EJ's Place opened. It's quickly become a favorite spot for subs, salads, and sandwiches. Earlier this year, The Local Eatery also opened. It's a popular meat and three restaurant that has filled a void.

There's been some positive strides made including the opening of the Benjamin E. Mays Family Resource Center on Sunny Acres Road in 2023. It's been a focal point for community meetings. Work continues to remove blighted areas in town as the revitalization process continues.

For most, the development of a new park remains a top priority. It's going to be nearly 6 acres.

Pacolet Mayor Ned Camby said the park will be developed in phases and could be open by early 2026. The town may decide to rent equipment to finish mulching what stumps are left at the future park site.

"We have a drawing of what we want the park to look like," Camby said. "The first phase we will put a walking trail around it and keep improving the grounds over there."

The town of about 2,500 residents is in eastern Spartanburg County. It's about 10 miles from Spartanburg. The area was originally known as Trough Shoals. A mill constructed by John. H. Montgomery opened on the banks of the Pacolet River in 1884. The mill operated until 1983.

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