More in-depth future provisions allow greater flexibility and protection for everyone involved, publishes sclegacylaw.com
Greenville, SC -- (SBWIRE) -- 11/20/2015 -- With will contest and inheritance litigation cases on the rise over the last decade, a growing number of people are placing increased emphasis on Estate Planning; in fact, an estimated 50 percent of individuals have currently veered away from traditional wills, favoring more in-depth measures in this field. Despite this burgeoning trend, many have yet to realize the potential value of devoting ongoing attention to end-of-life wishes. In light of this issue, Attorney James Anderson has announced an upcoming free seminar on Estate Planning and Asset Protection provided by the Anderson Law Firm.
Said Anderson, "Wills hold a great deal of weight in the legal world, but they're only the tip of the iceberg. They fail to cover life insurance, various retirement accounts and co-owned real estate, leaving more substantial likelihood of assets being subjected to the probate process. This could extend the amount of time beneficiaries are forced to wait before receiving their inheritances and increase court costs. The purpose of our seminar is to educate area residents on the benefits of choosing more flexible alternatives to the basic will."
Trusts appear to be the emerging choice among those planning for future asset distribution. In addition to furnishing more far-reaching options for grantors, they are also said to maintain greater privacy for all involved. This course of action likewise allows individuals to make arrangements for their own care in the event they become unable to do so in the future.
As another aspect of the estate planning process, asset protection implements provisions for unexpected issues while the grantor is alive. Pertaining to various types of assets, this element aids in preventing loss due to lawsuits, evolving tax regulations, divorce settlements and numerous other possibilities. Each branch of the estate planning process serves to protect beneficiaries from lengthy court cases, creditors and extensive tax dues.
Concluded Anderson, "Our seminar also covers methods of avoiding nursing homes with clear instructions for in-home care should the need arise while providing tools for clients' families to carry out Medicaid planning to help prevent financial issues down the road. Estate planning is an ongoing process allowing those involved to tailor their wishes to changes in their lives as they occur. It's never too late to get started, and we encourage anyone interested to take advantage of the seminar and contact us to set up a consultation."
About the Anderson Law Firm
Focusing on estate planning, asset protection and probate, attorneys with the Anderson Law Firm create estate plans, wills and living trusts for residents of Greenville, South Carolina.