Probate is the process through which the property of a deceased is legally passed through to his heirs or to others named in a will.
What Factors Set The Stage For A Probate To Occur?
In South Carolina, if the deceased owned more than $25,000 worth of assets, he must go through probate. Also, if he owned any real property that must go through probate and finally if he has creditors, any one of those creditors can file and make the estate go through probate so they can get their bills paid.
What Are My Options For Avoiding Probate?
A very best option is to prepare a living trust so that when you die, all your property that was your property is owned by the trust and the trust dictates what happens to your property and there is no need for probate because you do not own anything personally. However, you do control all of the assets in your trust. Also, if you have less than $25,000 in your assets then you do not have to go through probate and finally, you or your wife and children can own your property in a joint survivorship deed in which case that piece of property will not go through probate.
Who Are The Main Players In A Probate Case?
Of course, the probate judge will have the final say in anything in probate. There is usually a particular probate clerk assigned to guide the case through the probate and the personal representative who used to be called the executor is the person named in the will to guide the probate process. Also, there are the heirs of the deceased who may be named in a will or have rights through statute and finally devisees and that is anyone named in the will to receive property of the deceased.
What Is The Standard Timeline For A Probate Case?
The minimum timeline is 8 months after a notice to creditors is filed. Generally, though, the probate process can usually last at least a year up to two or three years.
What Generally Is The Outcome One Should Expect Once The Probate Process is Complete?
Once the probate process is completed, the judge will issue an order closing the estate. At that time, all property should have passed through the estate, all creditors may have been paid or claims may have been denied and finally, if real property is in the estate, a deed of distribution will have been executed so that the heir now owns the property.
For more information on Probate Process 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.