Did You Know? SC Estates Over $600,000 Must Be Reported to the SCDOR
After someone dies in South Carolina, one of the duties of the personal representative (aka executor) is to create an inventory of the decedent’s probate assets and fair market value, as described in South Carolina Code Section 62-3-706. This inventory [...]
Can I Disinherit My Child? Strategies for Disinheriting a Child from Your Will
The short answer is YES. Yes, when writing your will, you have the power to disinherit your child and leave nothing to him or her. This is true in every state except for Louisiana, which does not allow a testator [...]
Grounds for Contesting a Will in South Carolina
If you’ve been intentionally disinherited or unintentionally left out of the will, you might be wondering what legal options you have to challenge the will. South Carolina Code Section 62-3-407 lists six grounds for contesting a will. These six grounds [...]
I’ve Been Disinherited – Now What? (And Is Contesting the Will Worth It?)
You were expecting an inheritance, but you were left out of the will. Now what? Is there anything you can do if you’ve been disinherited? Maybe. State law protects spouses from being intentionally and unknowingly disinherited and gives other would-be [...]
A “Class of One” May Bring a Derivative Action in S.C. – The Boathouse Case
What can a member of an LLC do when another member is mismanaging company money, using it to support his other failing business ventures, and (allegedly) spending it on personal expenses like exotic travel and polo ponies? This is not [...]
UPDATED Avoid $591/Day Penalty: Business Owners, File a BOI Report ASAP
UPDATE: Under FinCEN's final interim rule, U.S. companies and U.S. persons involved in foreign companies no longer need to file a BOI Report. Individuals involved in a foreign company still must file a BOI Report. Now, "reporting companies" are "only [...]
Can You Prevent Future Spouses from Inheriting? Irrevocable Wills vs. Public Policy and the Ward Case
Imagine your spouse dies and you discover that not only were not provided for in the will, but that their previous will specifically barred you from inheriting anything at all. What would you do? This is what happened to Mary [...]
The One Big Beautiful Bill: Implications for Estate Planning & Running a Business
H.R.1 of the 119th Congress, better known as the “One Big Beautiful Bill Act,” was signed into law on July 4, 2025. This omnibus bill contains many provisions that could affect estate planning and running a business. This blog is [...]
Estate Planning After the One Big Beautiful Bill
The signing into law of the One Big Beautiful Bill Act (H.R. 1 of the 119th Congress) on July 4, 2025 has a few very important implications for estate planning. Here’s a brief look at them. Contact your own CPA [...]
Applicable Exclusion Amount Now $15 Million – Its History and Future
The One Big Beautiful Bill (OBBB) has set the applicable exclusion amount taxes at $15 million per individual, or $30 million per married couple, starting in 2026. This amount will be indexed for inflation starting in 2027. Notably, the OBBB [...]
QSBS – What is QSBS? Changes to QSBS Exemption in 2025
The Qualified Small Business Stock (QSBS) exclusion has been significantly expanded with the passage of the One Big Beautiful Bill (OBBB) Act on July 4, 2025. This change could mean savings of thousands or even millions of dollars in taxes [...]
What is Covenant of Good Faith and Fair Dealing? About the How, Not the What, and Road, LLC.
If you sign a contact, you and the other parties signing are automatically subject to the covenant of good faith and fair dealing, an implied principle that holds parties to a standard of fairness and honesty in carrying out the [...]
Spousal Elective Share: What It Is and How to Claim It In South Carolina
“Elective share” is the portion of a deceased person’s estate that a surviving spouse is entitled to under the law in separate property states. A surviving spouse may claim it regardless of the provisions of the will. This concept comes [...]
Left Out of the Will – Now What? Omitted Spouse, Pretermitted Child
What happens if you’ve been left out of the will? It depends – on state law, your relationship to the deceased, and other factors. Under state law, some parties are entitled to a portion of the estate when the testator [...]
11 Common Myths About Wills – Do You Believe These Misconceptions?
Which of these myths and misconceptions about last wills do you believe? Myth: I have a will, so my estate will not go through probate. Truth: Having a will does not mean your estate avoids probate. This myth likely persists [...]
