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Estate planning is an important way for an individual to protect their wealth after they are gone and to ensure that their assets pass to the individuals and organizations of their intentions. There are many different legal devices that can be used to create an estate plan, and individuals who wish to prepare or update their own plans should talk to their estate planning attorneys.

As they get older, South Carolina residents may get more and more concerns about how they are going to afford the cost of an assisted living facility, such as a nursing home. The costs of a nursing home stay are astronomical, with average costs running between around $7,500 to close to $8,500 a month, depending on whether a patient takes a private room.

Throughout a person’s adult life, many major life events occur. This includes marriages, starting a business, the birth of a child, receiving an inheritance, entering retirement or being diagnosed with an illness.

As the hit show Succession has taught audiences, there is no guarantee that adult children will inherit a title, business, assets or properties during the lifetime of a parent or at their death. When beneficiaries, such as a child, discover that they are not named in a will, this could spark many questions and even give rise to an action to contest the will during the probate process.

An estate plan is a means for protecting and preserving your legacy, as well as a vehicle that allows you to care for your loved ones financially once the you have passed on. However, an estate plan executed when you were a young adult may not address the many life changes you have experienced since.

Ending a marriage is often an unexpected event; however, for many spouses in South Carolina, it ends up being a necessary one. Divorce is not an event that only occurs when someone is in his or her 20s, 30s or 40s.

Entrepreneurship is not just for the young at heart. In fact, many businesses and startups today are initiated by those considered middle-aged.

There is more to crafting an estate plan than deciding what will happen to your assets after you die. A good estate plan can also help you and your family protect your assets and protect yourselves while you are alive.

Planning and preparing for the future often happens at pivotal moments in life. That is why many establish an estate plan when they marry, have children, retire, or are diagnosed with an illness.

Starting a business is a major step to take. Whether it is a small family business or the beginning stages of a large corporation, specific steps are required to get a business off of the ground. In other words, business owners should take the time to understand what is necessary to plan and prepare for a new business.