Tax, Estate Planning, and Probate

Sound advice on wealth planning in South Carolina

The attorneys of the Tax, Estate Planning, and Probate Practice Group at Young Clement Rivers, LLP are highly experienced in providing individuals and businesses with an extensive range of advice and legal services on complex issues.

The group provides comprehensive tax and legal advice in all aspects of estate planning, as well as sophisticated wealth transfers for individuals and their closely held businesses. The use of wills, various trusts, family partnerships, and other planning techniques are tailored to fit each client's situation and personal or business goals.

Knowledgeable estate planning counsel

The group’s lawyers advise clients on the merits of various estate and wealth planning options to craft a unique plan that best serves the client’s goals, including:

  • Wills
  • Revocable living trusts
  • General durable powers of attorney
  • Living wills
  • Health care powers of attorney
  • Educational trusts
  • Life insurance planning and trusts
  • Irrevocable life insurance trusts (ILITs)
  • Charitable trusts
  • Lead trusts
  • Remainder trusts
  • Grantor retained annuity trusts (GRAT)
  • Family limited partnerships (FLPs)
  • Generation skipping and dynasty trusts
  • Tax oriented wills

Effective tax planning

The group's practice includes all aspects of federal and state taxation, with special emphasis on:

  • The formation of business entities
  • Corporate reorganizations
  • Mergers and acquisitions
  • Corporate distributions
  • Real estate transactions
  • Section 1031 like-kind exchanges
  • Partnership allocations
  • Business sales and purchases
  • Limited liability company (LLC) taxation
  • Collection issues
  • Tax advice on business transactions

The group’s clients include:

  • Individuals
  • Retirees
  • Manufacturers
  • Closely held family businesses
  • Medical and professional practices
  • Retailers
  • Tax-exempt foundations and trusts
  • Charitable organizations
  • Non-profit entities
  • Trust departments

Some of the attorneys in this group have undergraduate degrees in accounting and are either Certified Public Accountants (CPAs) or have received a Master of Laws in Taxation. Group Chair Mike Branham is recognized by the South Carolina Bar as a Certified Specialist in Taxation Law. He is a past chairman of the South Carolina Bar's Tax Specialization Board and has been the South Carolina case reporter for the Trust and Estate section of the ABA for several years.

Probate advisors

While the probate process in South Carolina is relatively inexpensive when compared to some other states, the time involved in the entire process depends on whether the estate is taxable, requiring the filing of a federal estate tax return.

If the estate is taxable, the process may take several years to file the estate tax return and receive the proper tax-closing letter from the Internal Revenue Service. If the estate is not taxable and no estate tax returns are required to be filed, the entire probate process can generally be completed within a one-year period.

Practice group attorneys

Contact Young Clement Rivers, LLP

To talk to one of Young Clement Rivers, LLP’s seasoned South Carolina advocates, call (843) 720-5492 or contact the firm online.