The Probate Process: What Is It And How To Prepare For It?

This article will cover:

• The probate process and timeline.
• Preparing yourself and your family for the process.
• Avoiding or getting assistance with probate.

What Is Probate And How Does It Work In South Carolina?

In South Carolina, probate is required for estates valued over $25,000. If a will exists, it must be submitted to probate court for registration, making it a matter of public record accessible online. However, the probate process typically extends over a year, involving numerous forms and court fees, which can make it quite lengthy. For estates valued below $25,000 that do not include real property, a small estate process can be utilized. This generally takes less than six months and allows for the transfer of assets such as vehicles or boats.

How Long Does The Probate Process Typically Take?

For estates valued under $25,000, the probate process usually takes about four to six months. However, if the estate includes real property or exceeds $25,000 in value, the process often extends to eight months to a year. In some cases, it can take up to a year and a half.

How To Prepare Your Family For Probate?

One effective way to prepare your family is to establish a trust, thereby avoiding probate entirely. If this is not feasible, create a will and discuss it with your immediate family, ensuring they understand your intentions. Keep the will securely stored until your passing, when it will be submitted to the court. Maintaining comprehensive records of your assets will assist your family in identifying your holdings and prevent unnecessary searches.

What Documents Needed For Probate?

The primary document required for probate is the will. Additionally, the court will need:

• Copies of your property deed.
• Titles for any vehicles, boats, or airplanes.
• Documentation of liquid assets such as stocks, bonds, and IRAs.

All required documents must be gathered and submitted to the probate court at the start of the process.

Can Probate Be Avoided – If So, How?

The probate process can be long and drawn out for many families, so it makes sense that some prefer not to go through it at all. It is possible to avoid probate, primarily through the establishment of a trust. By transferring all your assets into a trust—excluding documents with named beneficiaries, such as IRAs or 401(k)s—you effectively remove them from your ownership and bypass probate. As the trustee, you retain control over your assets while ensuring they do not go through the probate process.

How Can An Estate Planning Attorney Assist With Probate?

An estate planning attorney can guide you through the often-complex probate process. With numerous forms to complete accurately, having an attorney’s expertise is invaluable. Should a creditor make claims against the estate, the attorney can negotiate on your behalf, either contesting the claim or arranging a settlement for a reduced amount.

Still Have Questions? Ready To Get Started?

For further information on The Probate Process, a free initial consultation is the next step. Obtain the legal guidance you need by calling (864) 271-7940 today.