What You Need to Know About Section 1031 “Like-Kind Exchanges”
Under Section 1031 of the US Code, you can sell a qualifying property, take the money from that sale, and buy new qualifying property of a “like-kind” without paying any...
How to Protect Your Interests With Enforceable Covenants Not to Compete
Updated April 2024 South Carolina is a state that values an individual’s freedom to work. Because of that, it does not look kindly on contracts that try to restrict a...
Did You Choose the Wrong Business Type?
Updated April 2024 Picking what kind of business you’re going to be – “choice of entity” – is one of the first and most important things you do when you...
What’s the Difference Between a C-Corp and an S-Corp?
Deciding what kind of entity you want to be is one of the first steps when creating a new business. If you’ve already decided that your business should be a...
How A Buy-Sell Agreement Is Like Monopoly
Imagine sitting down with someone to play Monopoly, and it’s the first time ever for both of you. What do you do first? After you each pick a token –...
The Unintended Consequences of Bad Estate Planning
We always advise people to get estate planning done. If you don’t decide what will happen to your assets upon your death, the state will decide for you. But sometimes,...
What to Know About Estate Taxes for Estate Planning
An estate tax is levied on an estate of a certain value. Because the tax rate is so high – up to 40% – it’s smart to do what you...
What Happens if You Die in South Carolina Without a Will?
Updated April 2024 Less than half of US adults have a will, according to a 2021 Gallup poll – are you one of them? If so, you have committed Family Malpractice™,...
The 5 Essential Estate Planning Documents
Updated April 2024 When you come to Gem McDowell Law Group to work on your estate plan, we discuss five documents together: a will, a trust, a living will, a...
