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The document is a Revocable Living Trust Agreement created in South Carolina, outlining the establishment of a trust by the Trustor(s) for the management and distribution of their assets during their lifetime and after death. It details the roles of the Trustor, Trustee, and Beneficiaries, specifies the powers granted to the Trustee, and provides guidelines for asset management, distributions, and administration of the trust. The agreement allows for modifications by the Trustor while alive and outlines procedures for handling incapacity, death of beneficiaries, and tax obligations.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Should a husband and wife have separate living trusts?

If each spouse has distinct assets or complex estate plans, separate trusts might be the better option. On the other hand, if a couples financial life is highly integrated, a joint trust could provide simplicity and ease of management. Its also important to note that this decision isnt set in stone.

How much does a living trust cost in SC?

As a general matter we prepare a Revocable Trust Estate Planning package for: $1,350.00 for an unmarried individual. $1,550.00 for a married couple (may be slightly higher if property is to be kept separate, i.e., his property to his kids/family/heirs and her property to her kids/family/heirs)

Why would a husband and wife have separate trusts?

A spouses separate trust is generally protected from the other spouses creditors. Also, when one spouse dies, his or her trust becomes irrevocable, making it more difficult for creditors of either spouse to reach the trust assets.

What are the benefits of a separate trust?

Benefits of Separate TrustsGreater Asset Protection A spouses trust is generally protected from the other spouses creditors. Also, when one spouse dies, his or her trust becomes irrevocable, making it more difficult for creditors of either spouse to reach the trust assets.

Should I put my house in a trust in South Carolina?

Those with complex estates may find a living trust useful. However, the adoption of the Uniform Probate Code in South Carolina means most people probably wont need one. Nevertheless, enlisting wills and trust services from an experienced attorney can help you choose the best legal instrument for you.

sc living trust form

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What is the problem with joint trusts?

Primarily, the lack of flexibility in a joint trust can be a problem, especially if the two spouses dont agree about who should ultimately be a beneficiary or how much they should receive.

What is the best trust for a married couple?

Typically, a revocable living trust would be filed as a separate trust by each spouse, but sometimes a joint trust is a better option. A joint trust may be best if the couple is comfortable owning all assets jointly and with the surviving spouse inheriting all assets.

What is the biggest mistake parents make when setting up a trust fund?

Selecting the wrong trustee is easily the biggest blunder parents can make when setting up a trust fund. As estate planning attorneys, weve seen first-hand how this critical error undermines so many parents good intentions.

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Should a husband and wife have separate living trusts?

How much does a living trust cost in SC?

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Should I put my house in a trust in South Carolina?

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What is the problem with joint trusts?

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