843-936-6680
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 Port Royal, 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 Port Royal 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 Port Royal. 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.
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.
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What is Estate Planning in
Port Royal, 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.
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 Port Royal, 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.
Working with a Tax Advisor and Estate Planning
Attorney in Port Royal, 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.
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.
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.
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
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 Port Royal, 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 Port Royal, 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:
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 Port Royal, 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.
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.
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.
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 Port Royal, 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.
CONTACT USLatest News in Port Royal, SC
Food Truck Festival pulling into Port Royal this weekend
Explore Beaufort -https://explorebeaufortsc.com/food-truck-festival-pulling-into-port-royal-this-weekend-2/
The popular Lowcountry Food Truck Festival is coming back to Port Royal again this weekend. And you’re going to love it.The big day-long fundraising event, now in it’s 7th year, has quickly become a local favorite. It’s part festival-part carnival…with an extra large dash of kids’ fun.The annual Lowcountry Food Truck Festival offers 21 different food trucks of all varieties from all over t...
The popular Lowcountry Food Truck Festival is coming back to Port Royal again this weekend. And you’re going to love it.
The big day-long fundraising event, now in it’s 7th year, has quickly become a local favorite. It’s part festival-part carnival…with an extra large dash of kids’ fun.
The annual Lowcountry Food Truck Festival offers 21 different food trucks of all varieties from all over the area, including from Savannah and Charleston, selling their best fare, along with live music, arts & crafts vendors, and a kid’s zone.
Enjoy lots of different food varieties including southern style comfort food, wings, seafood, Asian cuisine, Latin food, BBQ, Polish cuisine, and even alcohol-infused popsicles for the grown ups.
Here’s the list of participating food trucks…so you’ll definitely see that there’ something to please everybody’s palates:
Philly Boyz Chazitos Latin Cuisine G’ma on Ice Papa’s Kitchen Sweet Spice Daskin Wagon Royal Tasty Avenue Food Truck Bennett’s BBQ and Smokehouse The Sno Bar Truck All About That Bean & Boba Kona Ice of Hilton Head Golden Sun Gullah Express Food Savvy WillYum’s Wings Tacos El Padrino LowCo Grub Okan Lowcountry Kid Grill Taco Butts Smokin Gringos
Live music on the big stage at this year’s event will be provided by Campfire Tyler, followed by Broke Locals.
Paris Avenue in Port Royal will host the event all day long on Saturday, April 5th from 11am to 7pm.
Bring the kids….and your appetite. We’ll see you this Saturday!
Visit the Lowcountry Food Truck Festival Facebook page to see all of the different food trucks that will be there and to start mapping our your day full of fun.
Sands Beach closed to build causeway
yourislandnews.comhttps://yourislandnews.com/sands-beach-closed-to-build-causeway/
By Delayna EarleyThe Island NewsThe Town of Port Royal has announced that Sands Beach will be temporarily closed effective immediately as they begin work on the Causeway Project.The beach will remain closed until the work is completed, which they expect will be on or around April 25, 2025.The town’s post on its social media pages about the closing was immediately met with mixed comments from citizens, some who were excited about the changes being made and some who were angry...
By Delayna Earley
The Island News
The Town of Port Royal has announced that Sands Beach will be temporarily closed effective immediately as they begin work on the Causeway Project.
The beach will remain closed until the work is completed, which they expect will be on or around April 25, 2025.
The town’s post on its social media pages about the closing was immediately met with mixed comments from citizens, some who were excited about the changes being made and some who were angry about the lack of notice.
The causeway is being built to solve a problem of access to the beach when the tide is high.
High tide has been known to trap visitors on the beach, and the daily influx of water has caused portions of the road and parking lot to have large holes.
To address the problem, the town is constructing a 150- to 200-foot-long timber bridge that will rise and fall to accommodate tides and provide a safe walkway for both pedestrians and vehicles.
This will join the boardwalk, observation deck and boat ramp that already exist at the location.
According to Town Manager Van Willis, this is a more permanent solution than trying to fix the road and parking area, which is difficult since just fixing potholes requires permits from the state because of the marsh and surrounding environment.
Retaining walls will also be built that will allow the town to legally grade uneven areas without having to get a permit.
The project is being funded by the American Rescue Plan Act, ARPA, which guaranteed funding to local municipalities in response to the COVID-19 pandemic.
The expected cost of the project will be $1.5 to $1.6 million.
While the causeway is being built, access to the boat landing will remain open, according to the Town of Port Royal.
Delayna Earley, who joined The Island News in 2022, formerly worked as a photojournalist for The Island Packet/The Beaufort Gazette, as well as newspapers in Indiana and Virginia. She can be reached at [email protected].
Lowcountry Lowdown: Safe Harbor Marinas sold
yourislandnews.comhttps://yourislandnews.com/lowcountry-lowdown-safe-harbor-marinas-sold/
By Lolita HuckabyPORT ROYALTwo weeks ago, The Island News headline announced, “Port Royal, Safe Harbor reach agreement.”Those who have watched the evolution of development at the former S.C. Ports Authority property for the past four decades were a little skeptical but willing to accept that maybe, just maybe, the proposed marina project and accompanying commercial and residential projects might actually take place.Well, hold on there.Word came late last week, ...
By Lolita Huckaby
PORT ROYAL
Two weeks ago, The Island News headline announced, “Port Royal, Safe Harbor reach agreement.”
Those who have watched the evolution of development at the former S.C. Ports Authority property for the past four decades were a little skeptical but willing to accept that maybe, just maybe, the proposed marina project and accompanying commercial and residential projects might actually take place.
Well, hold on there.
Word came late last week, via the internet, that lo-and-behold, the international Safe Harbor Marinas, LLC is being sold by Sun Communities to an even larger conglomerate, asset manager Blackstone Infrastructure for $5.65 billion.
Since Safe Harbor, which purchased the Port Royal waterfront property in 2021 for $20.5 million, owns and operates 138 marines across the county, no one seems sure yet what the sale will mean for its local entities, which also include the lease of the city of Beaufort marina and the Port Royal Landings marina.
Port Royal leaders haven’t indicated they even heard one peep about the pending sale during those extensive mediation meetings they had with Safe Harbor recently to reach the most recent apparent agreement.
In the cases of the Port Royal property and the City of Beaufort Marina, there are legal documents binding on the different parties. Of course, the city’s lease agreement with Safe Harbor signed in 2019 has now been questioned in a lawsuit filed in November by a new nonprofit Protect Beaufort.
While the impact of this latest sale works its way down the corporate chain, it’s a sure bet the lawyers are going to be busy.
In the meantime, local citizens, particularly those in Port Royal whose may have bet their futures on development of that project, will have to continue to wait.
Blackstone’s public relations did issue this statement, for what that’s worth:“Our approach to infrastructure investing is one that focuses on responsible stewardship and stakeholder engagement to create value for our investors and the communities we serve. ”
We shall see.
Get ready for Lafayette
BEAUFORT – It’s March and the Marquis de Lafayette is coming to town.
In case you’ve missed the massive planning effort that’s underway to produce a re-enactment of the Lafayette’s visit to Beaufort 200 years ago, it’s definitely happening.
Led by the Historic Beaufort Foundation, the City of Beaufort and a host of other organizations and individuals, the program, which has been in the planning stages since last summer, will include multiple lectures around town, a fancy-dress ball and a potential cast of hundreds.
On March 18, the actual date of Lafayette’s arrival in 1825, there will be a procession from the waterfront through downtown Beaufort to the Verdier House on Bay Street, where the French visitor greeted his hosts.
Well-known historical interpreter Mark Schneider will be portraying the Marquis.
Lafayette’s “Farewell Tour of the Nation” began in Staten Island and included 24 states. His South Carolina stops included Cheraw, Camden, Columbia, Izzard’s Plantation north of Charleston, Charleston, Edisto and ended in Beaufort.
For more information, or to get involved, contact the folks at Historic Beaufort Foundation or take a look at historicbeaufort.org.
Lolita Huckaby Watson is a community volunteer and newspaper columnist. In her former role as a reporter with The Beaufort Gazette, The Savannah Morning News, Bluffton Today and Beaufort Today, she prided herself in trying to stay neutral and unbiased. As a columnist, these are her opinions. Her goal is to be factual but opinionated, based on her own observations. Feel free to contact her at [email protected].
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