Estate Planning and Probate Attorneys In Beaufort, SC

A: A Last Will and Testament is an important estate planning tool that everyone over the age of 18 should have. It allows the person making the will (the “testator”) to designate who will receive assets and allows the testator to select a personal representative who will handle estate distribution. People are often surprised to learn that a will controls the distribution of only probate assets. Probate assets include but are not limited to:

1. Real estate owned individually or with one or more co-owners as tenants in common. Determining how real estate is held requires a review of the deed for the property;
2. Stocks and bonds;
3. Bank accounts owned individually (without a payable on death designation);
4. Cash and notes receivable;
5. Life insurance payable to the estate only (i.e., without a living beneficiary);
6. Vehicles owned individually or by two or more persons with the word “and” appearing on the title between the names;
7. Household goods (if the decedent died unmarried).

Other assets pass outside of probate and are not controlled by the will. Examples of non-probate assets include but are not limited to:

1. Real estate owned as joint tenants with right of survivorship;
2. Real estate in which decedent held a life estate;
3. Joint bank accounts;
4. Accounts with a payable on death (POD) or transfer on death (TOD) designation;
5. Titled assets with the word “or” between two owners; and
6. Insurance proceeds payable to a beneficiary.

Contact us to set up your free consultation where we’ll discuss your specific situation and circumstances.

A: Probate is required only if there are probate assets; most people have at least one asset that will require probate. Non-probate assets such as those with rights of survivorship or beneficiary designations do not require probate. If the decedent’s probate assets are valued at less than $25,000.00, and there is no real property, assets may be distributed pursuant to an Affidavit for Collection (also known as a small estate affidavit) filed with the Probate Court. This does not require the opening of an estate. If the decedent owned probate assets valued at more than $25,000.00 and/or probate real estate of any value, you must open a regular estate for the decedent.

A: In South Carolina, state law dictates that an estate for a decedent who died within the prior 12 months is subject to a creditor claim period. Estates must remain open for this period, which is the shorter of (1) 8 months after a notice to creditors is published; or (2) one year from the decedent’s date of death. Upon expiration of this time, the personal representative may proceed to distribute the assets and complete estate administration. The duration of probate can vary widely, depending on factors such as the complexity of estate assets and the contentiousness of the parties involved. At a minimum, you should plan for estate administration to take approximately one year.

A: No, the law does not require you to have a lawyer draft your will. Often, however, wills drafted without a lawyer may be invalid or may not fully accomplish the drafter’s goals. We always recommend consulting an attorney when preparing your will since they have the knowledge and experience to advise your plan and help you reach your goals. 

A: Yes, a will must be filed with the Probate Court within thirty days of the decedent’s death in South Carolina. Wills do not need to be filed prior to death.