In this article, you will learn…
- The difference between a will and a living will,
- The importance of estate planning for everyone, and
- Why your family will need to probate your will.
Do You Have To Have Another Will Prepared If You Originally Had It Prepared In A Different State Than You Now Live?
It is very likely that you won’t need to have another will prepared once you move to South Carolina from another state. You should have an attorney review your will to ensure that it is property signed and has anything required by the state of South Carolina. Most requirements are about the same state to state, though.
Isn’t Estate Planning Just For The Really Wealthy? Or Do You Need To Plan Even When You Have Very Few Assets?
Estate planning is not just for the really wealthy. Estate planning is valuable for anyone in any financial situation because it goes beyond just being for wills and trusts. It can include healthcare directives, durable powers of attorney, and other elements to protect your wishes. You want the power to choose where your assets go, no matter how few assets you possess because if you don’t plan, the state will come in and make those decisions for you.
Why Do You Really Need A Will Or Other Estate Planning Documents If You’re Single And Have No Children?
A will is important for everyone so that you can decide how your assets will pass upon your death. If you don’t have a will, the state gets to decide what happens to everything you own. Any estate plan should include a durable power of attorney for your assets as well as for your healthcare directives, such as the healthcare power of attorney.
Is It Going To Take You A Lot Of Time And Money To Create A Will Or Other Estate Planning Documents?
Creating a will or other estate planning documents does take some time, but often not nearly as much time as most people think. In our office, we give you some forms to fill out which will ask questions to guide you into what you want to do. A simple will is usually under $500.
Will Your Spouse Still Get Part Of Your Estate If You Die Without Changing Your Estate Planning Documents After You’re Separated But Not Yet Divorced?
If you die without a will, your spouse will get everything even if you’ve been separated. If there are children, your spouse will get half of your estate. It’s ideal to check your will and make any changes to accomplish what you want to happen upon your death as soon as you make any life changes, such as a separation or a divorce.
Is A Living Will The Same As A Will?
No, a living will is not the same thing as a will. These are two entirely different documents with different purposes.
A living will is a directive to your healthcare providers that outlines what you want to happen in the event that you are ever in a vegetative state or a coma. You either want to indicate that you want to be kept artificially alive as long as possible, or that you wish to die in a natural manner.
A will, on the other hand, is a document that you’ve prepared that tells the state and the court how you want your assets to be passed on after your death.
Is There An Option To Avoid Probate If Your Family Doesn’t Want To Probate Your Will?
If your family refuses to probate for your will, a creditor can file a claim in court and probate the will as a creditor. Also, if you own real estate when you die and your family doesn’t probate your will, your family will not be able to sell that real estate until they clear that title in probate.
With the guidance of a skilled attorney for Estate Planning Law, you can have the peace of mind that comes with knowing that we’ll make it look easy. For more information on Estate Planning Law in South Carolina, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (864) 271-7940 today.