Laws & Laws’ attorneys represent individuals, families, businesses, banks and corporations throughout South Carolina with a focus on real estate and business law.
With over 50 years of combined experience, Laws & Laws has the skills and knowledge required to effectively help
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Real Estate Law
The real estate closing for the purchase or sale of commercial or residential property is a vital component of the transaction. You want to know that you are in the hands of capable, honest attorneys who have the experience to handle the job. The team at Laws & Laws has handled thousands of real estate closings throughout all areas of South Carolina, and has the proficiency and integrity that makes the firm a valuable asset to their clients. Whether you are purchasing or refinancing a residential, commercial, or industrial property, your real estate attorney is your guide and leader of the closing — having done the work necessary to ensure that your interests and investment are protected.
Wondering what to expect at your real estate closing and what your attorney will be responsible for completing prior to closing? Generally, in a residential purchase:
- Your attorney will research the title taxes, assessments, judgments, liens and on the property.
- They will order insurance binders and mortgage payoff information.
- They will examine the title for any issues that would prevent you from getting a good title to the property and will clear up any issues before you buy.
- They will coordinate title insurance and will assume lien position to the buyer’s lender.
- A closing date will be chosen and the firm will assist the leader in preparing the settlement statement and work with the lender to process the necessary loan documents for closing.
- The buyer will come to the closing with immediately available funds, either by certified check or wire transfer.
- The parties will sign the necessary paperwork to finalize the transaction.
- The attorney then re-examines the title to the property and if there are no interviews liens or judgments, they record the documents and distribute funds to the proper payees, including the payoff to the seller’s previous lender.
Attention to detail is mandatory for an attorney handling a real estate closing. You want to be sure if an issue arises prior to closing, you are working with an attorney and staff who are seasoned and have the knowledge to resolve the issues and act as your partner and guide.
Wills, Trusts and Advance Planning
Each of us should consider creating a plan for the disbursement of assets after death. Many people put off the responsibility until a health scare or other event occurs. Such advance planning is an involved process that should be left to an attorney proficient in drafting the appropriate documents and who will ask you the questions necessary to get a picture of your assets and liabilities, how you desire to distribute them, and advise you on the best way to accomplish your wishes. Your attorney will also talk with you about the need for a general Durable Power of Attorney and a Medical Power of Attorney, as well as your choices regarding the state’s death with dignity statute. This advanced planning for the day when you need someone to act on your behalf is critical because once you aren’t mentally responsible or competent, you can’t then execute the documents that your family needs to take care of you.
The attorney will work with you to create a Last Will and Testament, or one of several types of trusts, to specify how you want your assets distributed upon your death including assets that you want to give through your will, or those assets that you want to by-pass probate, and they will work with you to create a plan for asset protection in the meantime. Having a will in place makes the handling of probate matters a simpler process, saving your family members additional stress and work.
After the death of a loved one, dealing with the probate of their estate is a confusing and often lengthy process that is controlled by the Probate Court, in compliance with the probate laws of South Carolina. If the deceased had no will, the process can be even more complicated. Turning to an attorney experienced in probate matters and handling of estates is an important part of the process. The attorney handling your probate case must be well versed in the probate process and the law, as you will need them to work out the transactional side of the estate. You need an attorney who has experience in handling probate matters and who also has knowledge of real estate law, since many estates contain property matters to be settled.
If you are acting as the Personal Representative (executor) of an estate, your probate attorney will advise you on settling all of the affairs of the deceased person. The attorney will prepare and file the documents required to conclude the probate of the estate and to distribute the inheritances to the proper people and will advise the personal representative on the distribution of the estate property to the beneficiaries of the estate.
If you’re thinking of starting a business, retaining an attorney with experience in business formations should be your first course of action. You want a lawyer who can advise you how to set up the business as a legal entity and how to create the ownership structure that best suits your needs and more.
Your new business formation will be subject to state law. Your attorney will help your business comply with the legal requirements for forming the business. Your attorney may recommend that you form a Limited Liability Company (LLC) , or a 501 c(3) corporation, or a subchapter S corporation, or any of a number of different types of partnerships. As structure options differ, your attorney will also help you understand the best structure for your business to meet your needs. To ensure the best beginning to your business they will help you work through the ownership structure, the management structure and the obligations and duties of each. Once a business structure is chosen, they will do the legal work to create the business, register it with the appropriate governmental agency obtain a Federal Tax ID number.
Working with an attorney from the start helps your business start on solid ground, but maintaining that attorney relationship throughout the life of your business helps you handle issues such as on-going corporate maintenance, shareholders and stockholders meetings, proper notice, and proper authorization, of actions taken by the business or its officers.
Once you’ve worked with an attorney to get your business off the ground, you’ll likely understand how important that attorney relationship is to the continued success of your business. If a problem arises, your attorney is there to walk you through the process of resolving the issues and complying with the laws.
Sale of Business
Are you ready to buy or sell a business? Whether taking over an existing business or moving onto something new, it is important that you have an attorney ensure that your liability is minimized. If you are purchasing a business you want to be certain that there aren’t any judgments, liens, or tax issues prior to purchasing, that the assets of the business are properly transferred, so that you have home ownership and authority. If you are selling a business, you want to make sure that you have properly transferred out the assets, that you have given full ownership, and that your liability is severed or limited. Your attorney can ensure that the legal requirements are met and that the process is smooth.
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