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Our blog | Knapp Law Firm, PC - Part 15

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What is the annual gift tax exclusion and how is it different from charitable contributions?

What is the annual gift tax exclusion and how is it different from charitable contributions?

Comedian Bill Cosby’s two main interests in life have been to entertain his fellowmen and a desire to teach them how to live. He is a devoted family man and a noted philanthropist. He said “Give your children enough money so that they feel like they can do anything, but not so much that they…

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My brother and my name are on all Mom’s bank accounts, who is now in a nursing home.

My brother and my name are on all Mom’s bank accounts, who is now in a nursing home.

Can we just use her monies since they are jointly owned? Joint ownership can be a good way to avoid probate, but many people mistakenly believe this form of ownership will preserve the assets from being counted on a Medicaid application or that the end result will be consistent with the terms of the parent’s…

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When is the best time to make an estate plan?

When is the best time to make an estate plan?

If you’re 18 or older, it’s time to make a will. Even young adults have assets and legal interests that need protecting and directing upon death. Many children come from blended families where there are fathers and stepmothers, mothers and stepfathers, half-brothers and sisters and stepsiblings and grandparents too. If a car accident or some…

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Unclaimed Money in South Carolina

Unclaimed Money in South Carolina

You may be one of thousands that has money being held somewhere right now that you didn’t know existed. The South Carolina Unclaimed Property Act was passed to create a place for state government to hold unclaimed funds that are presumed abandoned by citizens after a period of three to five years of inactivity. This…

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