Fort Mill Legal Blog

There is a common misconception that only those who are elderly or those who are very wealthy should engage in estate planning, which is why many middle-aged people think they either have time to draft their will or do not even need to create a trust. However, this could not be farther from the truth-every South Carolina resident, including millennials, should have an estate plan in place that directs loved ones on what steps to take in event of a medical emergency or an unexpected step. Having a plan in place saved loved ones from agonizing over making medical decisions that one could have made themselves if they had planned on time.

Whether one is married or single, living with one's kids or beloved dogs, it is important to have some basic estate planning documents in place to protect one's assets and belongings. Without them in place, one runs the risk of putting family members in charge of making decisions at a time when their emotions are running high.

Have you ever left the house a little late for work and tried to make up the time out on the road? How about being late to pick up one of the kids from school and was feeling guilty about leaving them stranded. The remedy you most likely chose to fix both circumstances was to drive faster. Possibly even significantly over the speed limit.

In 2016, 10,111 people died nationally due to speeding related accidents out on the roads. That accounted for 27 percent of all traffic fatalities that year.

It might not come as a surprise to South Carolina residents that almost half of the people across the country do not have a will. Many people associate drafting a will and engaging in estate planning as something an elderly person will do, but consider this scenario-a couple dies in a fatal car accident and minor children are left behind without any guardian or one part of an unmarried couple dies suddenly and leaves their partner of five years without any share in an estate.

Estate planning can help avoid those outcomes, more so in cases where people are living in blended families or are unmarried. If someone dies without a will, their assets are distributed to the closest biological family they have. This means an unmarried partner might be overlooked for a sibling or a previous spouse might get a bigger share than the current partner. Planning in advance and updating estate documents from time to time can ensure one has a say in the way their assets are distributed upon their death and how their health will be managed should they no longer be able make decisions about it themselves.