Saturday, Aug

Personal Trust can be a Powerful Financial Planning Tool

Presented by Fred Gaskin

With many people spending more time at home these days, I’ve started to field more and more questions from clients interested in updating their financial and estate plans. The questions have ranged from the more basic, such as financial budgeting, all the way to the complex, which usually involves estate planning. A common question is whether a client should have a personal trust.

Most of us are familiar with wills and likely have one in place. But when people think of trusts, they often picture something reserved for the very wealthy. That’s not the case. A personal trust can actually be helpful for people in a variety of situations.

Simply put, a trust is a legal relationship in which the trustee, who can be you or someone you name, holds legal title to assets and manages them on behalf of the beneficiaries of the trust. Those beneficiaries could include you, your family or your favorite charities. The assets inside the trust could include your home, investment accounts, and more. You can set up the trust so you always have access to the assets at any time. For example, you could sell investments held in the trust to pay college tuition for a child.

Trusts can offer a number of benefits: • Maintains the integrity of your estate • May minimize transfer/ estate taxes • Helps your beneficiaries avoid the expense, delay, and publicity of probate • Allows you to create rules for how your assets

will be distributed • Allows for charitable giving strategies • Enables sound financial decision-making should you become incapacitated • Allows for detailed planning in unique family situations, such as ongoing care for a special needs child

A common approach we see is an individual setting up a trust and acting as the trustee, with the intent to do so until their death. Assigning someone as a successor trustee ahead of time, gives them the latitude to hand over trustee responsibilities to someone else should they be unable to continue due to age or illness.

Deciding who should succeed you as trustee is a critical decision. Your trustee should be able to impartially manage your financial assets, and be willing to assume all the accompanying legal complexities and administrative duties. They should be able to fulfill this responsibility for the full term of the trust, which could be decades into the future.

Because of the responsibilities, time commitment, and knowledge the role demands, many people choose a corporate trustee to succeed them. A corporate trustee can offer the benefits of financial expertise, unbiased decision making, fiscal responsibility, and sworn fiduciary duty to always act in the best interest of the trust and its beneficiaries. This provides continuity to ensure that your wishes are carried out and your estate is carefully managed into the future. A corporate trustee can serve as the sole trustee, or as co-trustee, working alongside a family member or trusted individual you choose.

Few solutions are perfect and establishing a trust does involve near term expenses (legal and time, for example), but these costs should also be balanced against the benefits over time that a Trust can provide you, as well as your heirs. A trust can serve as an integral part of your overall financial plan. It can offer tremendous flexibility in establishing stability and security for your family now and into the future.

As I’ve pointed out in prior columns, the hardest part for most investors in these situations is just getting started. Once you’ve jumped into the process, you’ll realize that determining whether a personal trust is right for you or not is a terrific learning exercise. You’ll have more confidence, and importantly, a better understanding of what you need to do to manage your future.

Fred Gaskin is the branch leader at the Charles Schwab Independent Branch in Bluffton. He has over 35 years of experience helping clients achieve their financial goals. Some content provided here has been compiled from previously published articles authored by various parties at Schwab.

The information here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. This information does not constitute and is not intended to be a substitute for specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, please consult with a qualified tax advisor, CPA, Financial Planner or Investment Manager. (0820-01LB)

BUSINESS BRIEFS

Coastal Carolina Hospital’s Adams receives Daisy Award

Danielle Adams, a nurse with Coastal Carolina Hospital, has received the Daisy Award for Extraordinary Nurses given by The DAISY Foundation.

Adams began her nursing career at Coastal Carolina Hospital in June of 2018 and currently works in the hospital’s Medical-Surgical Unit. She was nominated for the award by her colleagues.

Formed in 1999,The DAISY Foundation has honored nurses with its awards program in over 4,500 healthcare facilities and schools of nursing in all 50 states and 28 countries.

Beaufort Economic Development promotes Stone to senior project manager

Charles Stone has been promoted to senior project manager for the Beaufort County Economic Development Corporation.

Stone joined the agency in 2018 after graduating from the University of South Carolina. He has managed over 100 prospects and more than 30 projects. Stone is working on his professional accreditation through the International Economic Development Council.

In the past two years, the BCEDC has seen over $100 million in projects announced in the county, which will create 546 new jobs at an average annual compensation of $48,000, and helped to maintain 174 existing jobs, according to a news release from the agency.

Hilton Head Public Service District earns 10th financial reporting award

The Hilton Head Public Service District (PSD) – a water, sewer, and recycled water public utility serving customers on Hilton Head – has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association, a nonprofit association with 21,000 members.

This is the PSD’s 10th consecutive year receiving the award and is the highest form of recognition in the area of governmental accounting and financial reporting, according to the association.

The award is for the PSD’s 2019 Comprehensive Annual Financial Report (CAFR), which can be found at www.hhpsd.com.

Collins Group Realty ranked No. 2 firm by sales volume in SC

Collins Group Realty was recently named one of America’s most productive sales teams by REAL Trends + Tom Ferry America’s Best Real Estate Professionals, a ranking report sponsored jointly by REAL Trends and Tom Ferry International.

REAL Trends is a leading source of analysis and information for the residential real estate brokerage industry. Tom Ferry International is a nationwide real estate business and life coaching and training company.

The report ranked over 14,500 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2019. All production numbers are independently verified by a third party to ensure accuracy and report integrity.

Collins Group Realty was ranked No. 2 by sales volume for the state of South Carolina.

Have an employee or business announcement? The Island News routinely runs business briefs when space allows. Send announcements to: mindy@ yourislandnews.com.

LEGAL NOTICES

PUBLIC NOTICE REQUEST FOR PROPOSAL RFP 2021 - 103 INFORMATION TECHNOLOGY SUPPORT SERVICES

The City of Beaufort is requesting proposals from qualified, professional technology firms for Information Technology Support Services. The qualified firm would provide necessary technical services, which would enable the City to: • Protect and secure its technology facilities; • Ensure the efficient operation of its data processing networks and related computer systems in its defined user community; • Enhance its quality of service for City departments; • Minimize the spending and maximize the ROI for investment in technology;

The RFP and additional documents may be accessed on the City’s website, https://www.cityofbeaufort.org/165/Procurement, Bid Opportunities - or by contacting the Procurement Administrator.

DUE TO THE IMPACT OF THE COVID-19 VIRUS AND THE STATE OF SOUTH CAROLINA EXECUTIVE ORDER 2020-12 DATED MARCH 21, 2020 REGARDING “SOCIAL DISTANCING” PRACTICES, PROPOSALS MAY BE SUBMITTED BY EMAIL.

THE SUBMITTAL DEADLINE IS 2:00 P.M. ET ON SEPTEMBER 7, 2020.

NOTICE OF FORECLOSURE SALE Barony Beach Club Owners' Association, Inc. v. JOHN D. O'GARA 4181 Fallcrest Dr Batavia OH 45103 MARCIA B. O'GARA 4181 Fallcrest Dr Batavia OH 45103 (“Owner”) Contract number 1369202. NOTICE IS HEREBY GIVEN that according to the Notice of Sale recorded in the Register of Deeds Office for Beaufort County, South Carolina, Daniel C. Zickefoose, as Trustee/Attorney and Eck, Collins & Richardson, P.L., 4000 Faber Place Drive, Suite 300, North Charleston, SC 29405 (“Creditor/Lienholder”), will sell to the highest and best bidder for cash, outside the Beaufort County Government Center, 100 Ribaut Street, Beaufort, SC 29902 beginning at 9:00 a.m. on August 31, 2020, the following described Property: AS TO: JOHN D. O'GARA, MARCIA B. O'GARA An undivided one fifty-first (1/51) fractional interest in Unit No. 9141, respectively, Barony Beach Club Horizontal Property Regime, lying situate and being on Hilton Head Island, Beaufort County, South Carolina, and being more particularly shown and described by reference to the Master Deed, establishing the said Horizontal Property Regime, being dated March 8, 1999, and recorded in the Office of the Register of Deeds for Beaufort County, South Carolina, on March 11, 1999 in Deed Book 1146 at page 526; as amended from time to time, and by reference to that certain plat entitled "As-Built Survey of Barony Beach Club Horizontal Property Regime" said plat prepared by Terry G. Hatchell, S.C.R.L.S. #11059, said plat being dated March 3, 1999, and recorded in the Office of the Register of Deeds for Beaufort County, South Carolina, in Plat Book 69 at Page 65, as may be further revised from time to time. AND ALSO, all of the rights, privileges, easements, and common areas appertaining to the above-described property as set forth in the Master Deed and By-Laws of Barony Beach Club Horizontal Property Regime. AND ALSO, all rights, title, interest and privileges extending to Time-Sharing Interest Number(s) 9141-B-03 in each of the respective aforedescribed Units, as contained in that certain Time Sharing Declaration, dated March 8, 1999, recorded in the Office of the Register of Deeds for Beaufort County, South Carolina, on March 11, 1999 in Deed Book 1146 at Page 526, as amended from time to time. The sale of the Property is to satisfy the past due obligations of the Owner(s) as evidenced by the Claim(s) of Lien duly recorded in the following Official Records Lien Book/Page: 143/1787 of the Public Records of Beaufort County, South Carolina. Owner is currently in default under certain provisions of the Master Deed Establishing Barony Beach Club Horizontal Property Regime, Beaufort County, South Carolina by MARRIOTT OWNERSHIP RESORTS INC. recorded in the Registrar of Deeds, Beaufort County, South Carolina on March 8, 1990 in Deed Book 547 at Page 1082, as supplemented or amended (the “Master Deed”) as provided for in Article XX(B) of the Master Deed,the lienholder has chosen to proceed with a non-judicial foreclosure procedure in accordance with Article 3 of Chapter 32 of Title 27 of the Code of Laws of South Carolina. The total amount due as of the date of the Foreclosure Sale is $3184.75. If additional costs and/or fees associated with the foreclosure and sale are incurred, such additional costs and/or fees shall be added to this amount on the date of the Foreclosure Sale.

NOTICE OF FORECLOSURE SALE Harbour Club Owners' Association, Inc., v. DOUGLAS A. CRIGGER 1419 EDWARDS DR FREMONT OH43420- 9578 (“Owner”) Contract number 18006. NOTICE IS HEREBY GIVEN that according to the Notice of Sale recorded in the Register of Deeds Office for Beaufort County, South Carolina, Daniel C. Zickefoose, as Trustee/Attorney and Eck, Collins & Richardson, P.L., 4000 Faber Place Drive, Suite 300, North Charleston, SC 29405 (“Creditor/Lienholder”), will sell to the highest and best bidder for cash, outside the Beaufort County Government Center, 100 Ribaut Street, Beaufort, SC 29902 beginning at 9:00 a.m. on August 31, 2020, the following described Property: AS TO: DOUGLAS A. CRIGGER And Junior Lienholders and An undivided 1/51 fractional interest in Unit No. 3942, Harbour Club Horizontal Property Regime, lying, situate and being in Sea Pines Plantation, on Hilton Head Island, Beaufort County, South Carolina, and being more particularly shown and described by reference to the Master Deed of Marriott Ownership Resorts, Inc., establishing the said Horizontal Property Act, said Master Deed being dated February 20, 1990, and recorded in the Office of the Register of Deeds for Beaufort County, South Carolina on March 8, 1990 in Deed Book 547 at Page 1082, and by reference to that certain plat entitled As-Built Survey of Harbour Club Horizontal Property Regime, said plat prepared by Surveying Consultants of Hilton Head Island, Inc., said plat being dated February 27, 1990 and recorded in the Office of the Register of Deeds for Beaufort County, South Carolina, in Plat Book 38 at Page 51. And also, all rights, privileges, easements, and common areas appertaining to the above described property as set forth in the Master Deed and By-Laws of the Harbour Club Horizontal Property Regime. And also, all right, title, interest and privileges extending to the Owner Use Period 44, as contained in that certain Supplemental Declaration of Multiple Ownership Rights, Restrictions, Affirmative Obligations and Conditions for Floating Time (hereinafter referred to as Supplemental Declaration), which is attached as Exhibit H to the above-reference Master Deed. The sale of the Property is to satisfy the past due obligations of the Owner(s) as evidenced by the Claim(s) of Lien duly recorded in the following Official Records Lien Book/Page: 143/1621 of the Public Records of Beaufort County, South Carolina. Owner is currently in default under certain provisions of the Master Deed Establishing Harbour Club Horizontal Property Regime, Beaufort County, South Carolina by MARRIOTT OWNERSHIP RESORTS INC. recorded in the Registrar of Deeds, Beaufort County, South Carolina on March 8, 1990 in Deed Book 547 at Page 1082, as supplemented or amended (the “Master Deed”) as provided for in Article XX(B) of the Master Deed,the lienholder has chosen to proceed with a non-judicial foreclosure procedure in accordance with Article 3 of Chapter 32 of Title 27 of the Code of Laws of South Carolina. The total amount due as of the date of the Foreclosure Sale is $3511.52. If additional costs and/or fees associated with the foreclosure and sale are incurred, such additional costs and/or fees shall be added to this amount on the date of the Foreclosure Sale.

NOTICE OF FORECLOSURE SALE Monarch at Sea Pines Owners' Association, Inc. v.

CAROLYN I SCHRIVER 4432 TIERRA VERDE PL ELKTON FL 32033-2081 SIGNE E. PAUL 4432 TIERRA VERDE PL ELKTON FL 32033-2081 (“Owner”) Contract number 43514. NOTICE IS HEREBY GIVEN that according to the Notice of Sale recorded in the Register of Deeds Office for Beaufort County, South Carolina, Daniel C. Zickefoose, as Trustee/Attorney and Eck, Collins & Richardson, P.L., 4000 Faber Place Drive, Suite 300, North Charleston, SC 29405 (“Creditor/Lienholder”), will sell to the highest and best bidder for cash, outside of the Beaufort County Government Center Entrance, 100 Ribaut Rd, Beaufort, SC 29902, beginning at 9:00 a.m. on August 31, 2020, the following described Property: AS TO: CAROLYN I SCHRIVER, SIGNE E. PAUL Together with a remainder over in fee simple absolute as tenants in common with the other owners of all the unit weeks in the hereafter described Condominium Unit in that percentage interest determined and established by the aforesaid Declaration of Interval Ownership, Rights, Restrictions, Affirmative Obligations, Conditions, Etc. for the following described real estate located in the County of Beaufort, State of South Carolina as follows: UNIT WEEK 4 in UNIT NO 3516, in Monarch at Sea Pines, Horizontal Property Regime XXV, Phase I, according to the Master Deed of American Resort Properties, Inc., dated May 18, 1982, as recorded in the Beaufort County Records in Deed Book 347 at Page 346, et seq. and as amended by Annexation Declaration of Phase I, recorded in the Beaufort County Records, and all applicable amendments thereto. The sale of the Property is to satisfy the past due obligations of the Owner(s) as evidenced by the Claim(s) of Lien duly recorded in the following Official Records Lien Book/Page: 143/249 of the Public Records of Beaufort County, South Carolina. Owner is currently in default under certain provisions of the Master Deed Establishing Monarch at Sea Pines, Horizontal Property Regime XXV, Beaufort County, South Carolina by MARRIOTT OWNERSHIP RESORTS INC. recorded in Deed Book 347 at Page 346, et seq. and as amended by Annexation Declaration of Phase I, recorded in the Beaufort County Records, and all applicable amendments thereto (the “Master Deed”). As provided for in the Master Deed, as amended, the lienholder has chosen to proceed with a non-judicial foreclosure procedure in accordance with Article 3 of Chapter 32 of Title 27 of the Code of Laws of South Carolina. The total amount due as of the date of the Foreclosure Sale is $7134.50. If additional costs and/or fees associated with the foreclosure and sale are incurred, such additional costs and/or fees shall be added to this amount on the date of the Foreclosure Sale.

NOTICE OF FORECLOSURE SALE SurfWatch Owners Association v. LOUIS A. AMOROSE 3000 CHIMNEY WOOD TRAIL INDIAN TRAIL NC 28079 ROSE M. AMOROSE 3000 CHIMNEY WOOD TRAIL INDIAN TRAIL NC 28079 (“Owner”) Contract number 1369917. NOTICE IS HEREBY GIVEN that according to the Notice of Sale recorded in the Register of Deeds Office for Beaufort County, South Carolina, Daniel C. Zickefoose, as Trustee/Attorney and Eck, Collins & Richardson, P.L., 4000 Faber Place Drive, Suite 300, North Charleston, SC 29405 (“Creditor/Lienholder”), will sell to the highest and best bidder for cash, outside of the Beaufort County Government Center Entrance, 100 Ribaut Rd, Beaufort, SC 29902, beginning at 9:00 a.m. on August 31, 2020, the following described Property: AS TO: LOUIS A. AMOROSE ROSE M. AMOROSE An undivided one fifty-second (1/52) fractional interest in Unit No. 5434 respectively, SurfWatch Horizontal Property Regime, lying situate and being in Hilton Head Island, Beaufort County, South Carolina, and being more particularly shown and described by reference to the Master Deed, establishing the said Horizontal Property Regime, being dated June 17, 2004, and recorded in the Land Records for Beaufort County, South Carolina, on June 22, 2004 in Deed Book 01976 at Page 0001, as further amended from time to time, and by reference to that certain plat entitled "Plat of Phase 1, 2 & 3 SurfWatch Horizontal Property Regime", said plat prepared by Surveying Consultants, Inc., Terry G. Hatchell, S.C.R.L.S.#11059 , said plat being dated July 15, 2005, and recorded in the Land Records for Beaufort County, South Carolina, in Plat Book 108 at Page 5, as may be further revised from time to time ("Plat"). AND ALSO, all of the rights, privileges, easements, and common areas appertaining to the above-described property as set forth in the Master Deed and By-Laws of SurfWatch Horizontal Property Regime. AND ALSO, all right, title, interest and privileges extending to Time Sharing Interest Numbers(s) 5434-S-47 in each of the respective aforedescribed Units, as contained in that certain Time Sharing Declaration, dated June 17, 2004, recorded in the Land Records for Beaufort County, South Carolina, on June 22, 2004 in Deed Book 01976 at Page 0082, as amended from time to time. The sale of the Property is to satisfy the past due obligations of the Owner(s) as evidenced by the Claim(s) of Lien duly recorded in the following Official Records Lien Book/Page: 131/2211 of the Public Records of Beaufort County, South Carolina. Owner is currently in default under certain provisions of the Master Deed Establishing SurfWatch Horizontal Property Regime, Beaufort County, South Carolina by MARRIOTT OWNERSHIP RESORTS INC. recorded in the Registrar of Deeds, Beaufort County, South Carolina on June 22, 2004 in Deed Book 01976 at Page 0001, as further amended from time to time, (the “Master Deed”). As provided for in the Master Deed, as amended, the lienholder has chosen to proceed with a non-judicial foreclosure procedure in accordance with Article 3 of Chapter 32 of Title 27 of the Code of Laws of South Carolina. The total amount due as of the date of the Foreclosure Sale is $7602.64. If additional costs and/or fees associated with the foreclosure and sale are incurred, such additional costs and/or fees shall be added to this amount on the date of the Foreclosure Sale.

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