Welcome to Our Guide on Probate and Estate Administration

Navigating the world of probate and estate administration can seem daunting, but you’re not alone. We’re here to guide you through the process with clear, professional advice and a friendly approach. Whether you’re planning ahead or dealing with the estate of a loved one, understanding the basics can make a significant difference.

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Probate in Charleston

Probate is the legal process to distribute a deceased person’s assets and pay the necessary debts. This involves validating the will, paying debts, and distributing the remaining assets according to the will or state laws if there is no will. The process ensures that the deceased's wishes are honored and that all legal obligations are met.

The Probate Process: Step-by-Step

1. Filing the Will

If there is a will, it must be filed with the probate court. The court will then officially recognize it as the legal document outlining how the estate should be handled.

3. Notice to Creditors and Informing Heirs

The personal representative is required to publish a Notice to Creditors in a newspaper once a week for 3 weeks. The Probate Court does this for you in many counties in South Carolina. Creditors have 8 months from the first date of publication to file a claim with the court.

5. Paying Debts and Taxes

Before distributing assets, any outstanding debts and taxes must be settled. This ensures that all financial obligations are fulfilled.

2. Appointing a Personal Representative

The personal representative is responsible for managing the estate. If the deceased named a personal representative in their will, that person will take on this role. If not, the court will appoint someone.

4. Inventory of Assets

The personal representative will compile a detailed inventory of the deceased’s assets and debts. This step is crucial for understanding what needs to be managed and distributed.

6. Distributing the Estate

Once debts and taxes are taken care of, the remaining assets are distributed according to the will or, if there is no will, according to state intestacy laws.

7. Closing the Estate

The final step involves closing the estate. The personal representative provides a final accounting of the estate’s administration to the court, and once everything is approved, the probate process is complete.

Estate Administration: What You Need to Know

Estate administration is a broader term that encompasses the entire process of managing and distributing both a probate estate and trust administration. Estate administration can also involve executing beneficiary designations for assets on death. Trust administration includes managing a trust’s assets, distributions, and filings according to the terms of the trust for the benefit of the beneficiaries after the grantor’s death. This includes tasks such as:

Managing Property

Ensuring that all property is properly maintained and safeguarded.

Settling Financial Affairs

Handling any financial matters, including investments and bank accounts.

Legal Compliance:

Ensuring all legal requirements are met, including tax filings and court reports.

Why Seek Professional Help?

While it’s possible to navigate probate and estate administration on your own, many find it beneficial to work with professionals such as estate attorneys or financial advisors. The attorneys at Freeman|Wine, LLC can provide valuable guidance, ensure compliance with legal requirements, and help streamline the process.

Key Benefits of Professional Assistance:

Expert Knowledge

Understanding complex legal and financial aspects.

Efficiency

Streamlining the process and reducing potential delays.

Stress Reduction

Easing the burden during a challenging time.

What does an estate plan include?

An estate plan is more than just legal documents. Estate planning also involves coordinating assets with your wishes and legal documents. As part of our process, we will advise you on how best to set up title and beneficiary designations for your assets to ensure your wishes are followed.
How much does an estate plan cost?

We charge a flat fee for our services and you will know the total cost of your estate plan before you start working with us. Our flat fees are customized to your individual needs and goals, so we will need to meet with you before quoting you a fee. Our initial consultation is complimentary, so there is no financial risk to you to meet with us and be quoted a cost.
What kinds of documents do I need to have an estate plan?

A complete estate plan should include documents to address your incapacity and death. Depending on your needs and goals, your estate plan may include a Will, Trust, Durable Power of Attorney, Health Care Power of Attorney, and Living Will.
What information will I need to share with you?

We will ask you for information about your loved ones, as well as information about your assets. We understand the private and sensitive nature of such information and take serious our duty to keep your information strictly confidential.
Can I bring other people to my initial meeting?

Yes, you are welcome to bring loved ones or other professionals who you would like to be a part of your estate planning process. However, we may ask to meet with you alone at some point during our process to ensure you have the opportunity to privately discuss your estate plan with us.
Do you offer virtual meetings?

Yes, we are glad to conduct most of our meetings virtually! We use Zoom for virtual meetings and can also speak by phone. However, because your legal documents must be ink signed originals, we will ask you to come to our office to sign your estate planning documents.
How do I receive my estate planning documents at the end of the estate planning process?

We believe that the time and care you have invested in creating your estate plan should be evident in the finished product you receive from our office. Your estate planning documents will be given to you in a custom portfolio and neatly organized with identifying information and explanations for each document. Your portfolio will also include places for you to record your wishes regarding your funeral or memorial, as well as a place where you can list specific items of tangible property (such as furniture or jewelry) to go to specific people. Our goal is that you or your loved ones can use your portfolio to more easily understand what your estate plan says.
What is a team approach to estate planning?

We love working with other professionals to create a team approach to your estate plan. This may include financial advisors, accountants, or other attorneys. We will gladly include financial or other professionals in the estate planning process to help you create a team to assist you in developing your estate plan, and your loved ones in administering your estate. Knowing you have a team ready to help you or your loved ones in difficult times can be comforting and we respect that work and relationships you may have with other professionals.
Why should we work with your firm rather than use an online will or trust form maker or “simple will”?

Online legal forms and simple will forms can be problematic because they may not adequately address more complex legal issues or your unique personal circumstances. They often lack the personalized guidance and expertise provided by an estate planning attorney, which can lead to errors or oversights in the document. Such low-cost forms may not account for changes in laws or ensure proper execution and witnessing, potentially rendering the documents invalid. Ultimately, relying solely on these types of fill in the blank legal forms can result in unintended consequences and may not fully protect your assets or accurately reflect your wishes. Estate planning is a conversation, not a one-size-fits-all approach, and computers and forms cannot ask you the questions needed to fully ascertain your specific needs and goals.