AN ESTATE PLANNING ATTORNEY WHO LISTENS
ESTATE PLANNING IN SOUTH CAROLINA
Last Will and Testament
Durable Powers of Attorney
Last Will and Testament
A Last Will and Testament is a basic building block of every estate plan. It makes the probate process easier and provides instructions for the administration of your probate estate. If you have a minor child, you may name a legal guardian for that child in your Will. It does not control assets which are not subject to probate. To create a Will in South Carolina you must be at least 18 years old, of sound mind, and not under undue influence. Witnesses to your signature are required.
Revocable Trusts
Durable Powers of Attorney
Last Will and Testament
A Revocable Trust is often used to avoid the probate process and control assets, including real estate and investments. It is more complicated than a Last Will and Testament.
Upon the death of the creator of the trust, it usually becomes irrevocable.
Durable Powers of Attorney
Durable Powers of Attorney
Advanced Medical Directives
A Durable Power of Attorney is a very powerful legal document in which you give authority to another person you trust to make personal, financial, and legal decision for you.
It should only be given to people you trust, because it can be abused.
Advanced Medical Directives
Advanced Medical Directives
Advanced Medical Directives
In South Carolina, a Health Care Power of Attorney may be used to designate a person to make health care decisions for you when you are no longer able to make those decisions for yourself.
The document contains choices in it for end of life decisions, such as life sustaining treatment. It provides health care providers and others information about how you want your health care decisions to be made and by whom.
Irrevocable Trusts
Advanced Medical Directives
Special Needs Planning
As the name implies, an Irrevocable Trust can not be changed or revoked by the person creating the trust. An Irrevocable Trust may have significant income tax and other consequences. It may be used for a variety of reasons: avoiding probate, controlling assets, providing for a special needs beneficiary, complying with government rules for Medicaid eligibility, and protecting assets are among the many reasons you might choose to use an irrevocable trust as part of your estate plan.
Special Needs Planning
Advanced Medical Directives
Special Needs Planning
Special situations call for special planning.
If you have a loved one who is or may be eligible for government needs based benefits, such as SSI or Medicaid, or is facing other challenges that require special attention, then you should consider how that influences your estate plan.
South Carolina Probate and Ancillary Probate
PROBATE WITH ADMINISTRATION
When a loved one dies they leave behind things they own and debts they owe. They may have a Will that provides directions concerning their assets and their estate. Probate with Administration is the recognition of the decedent's Last Will and Testament and the process by which creditors are paid and the decedent's probate assets are distributed under the terms of the Will and the applicable laws. In South Carolina, this process generally takes about a year to complete.
INTESTATE ADMINISTRATION
If a person dies without a valid Last Will and Testament, the law provides how their estate will be distributed and who may be appointed as the Personal Representative of their estate. If the decedent was survived by their spouse and children, then in South Carolina, their spouse would be entitled to half of the probate estate and their children would share the other have of the probate estate.
Personal Representative, Trustee, and Agents
If you have been appointed as a Personal Representative, Trustee, or Power of Attorney, this is known as a fiduciary relationship.
As a fiduciary, you have duties to the person who appointed you and, if you are a Trustee or Personal Representative, duties to others too.