probate lawyer Archives - De Bruin Law Firm

When an individual dies, typically, at least some of the property that individual owned will be subject to probate. This means that the property must go through a formal probate process to be distributed according to the individual’s will. Even if the individual did not have a will, that individual’s property may still pass through probate.

What property is subject to probate?

Land, houses, vehicles, antiques, stocks, bonds, and bank accounts are just a few of the types of property that are subject to probate in South Carolina. Unless all of the individual’s property was in a revocable living trust, the estate will go through probate.

The probate process

First, the individual named as executor in the will needs to meet with the clerk of the probate court. The executor will oversee the distribution of the estate. If no executor is named, one may be appointed by the probate court.

At the initial meeting with the clerk, the executor must provide an original copy of the will (if one exists), as well as the death certificate and contact information for all relatives and heirs.

Next, the formal probate process will commence. The executor must first ensure that all of the assets in the estate have been noted and are safeguarded. For example, if there are several bank accounts in the estate, the executor must make sure that withdrawals are not made on these accounts until probate is complete.

How does an executor locate all of the assets? If the deceased kept good records, the executor will be lucky. Records may clearly lay out any accounts or pieces of property that were owned. If not, a good start is to have a credit report completed on the deceased. The credit report will show open bank accounts, lines of credit, and similar assets. Next, the deceased’s tax returns may be studied to look for receipts of interest, capital gains, or dividends that the deceased received in the past. If there is still any doubt that all of the assets in the estate have not been located, a private investigator may be hired to conduct a more thorough search.

Unclaimed Property Search

Additionally, South Carolina provides an “Unclaimed Property Search” on the state treasurer’s website. If companies or other agencies cannot locate the owner of certain funds, they will report it to the unclaimed property program. It is easy to do a search at www.treasurer.sc.gov to see if the deceased has any unclaimed property.

The executor must also locate any debts or liabilities that the deceased had at the time of death. Again, as with locating assets, determining how many debts the deceased had may be difficult. South Carolina law provides that the executor must have a notice printed in the newspaper every week for three weeks. If the executor does know of some of the deceased’s liabilities, the executor may send those debtors a notice as well. Debtors have 60 days from the date they receive the notice or 8 months from the date the newspaper is published to file a claim. Creditors that are unknown to the executor have 8 months from the first newspaper publication to file claims.

If you need assistance with the probate process, contact our attorneys

At the De Bruin Law Firm, our estate attorneys understand how difficult it is to manage an estate while grieving the loss of a loved one. We are here to provide the guidance you need through each step of the probate process.

The attorneys at the De Bruin Law Firm understand that estate matters are emotional and stressful. We are available to provide objective advice and guidance to our clients. To schedule a free consultation, call 864-982-5930 or use the link below.

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If you have a legal matter related to Estate Planning, Business Law, or a Real Estate Transaction contact our office to speak to one of our attorneys.

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The attorneys at the De Bruin Law Firm understand that Estate Matters can be difficult to understand and plan for. We are available to provide our clients advice and guidance during the Estate Planning Process. To view common fees associated with an Estate Plan please call us at 864-982-5930 or use the link below to view some of our common Estate Planning Fees.

Transferring property when its held jointly can come with certain complications. Joint ownership is a term that arises when more than one person owns property. And, ultimately, it can be used as a simple and cost-effective way to transfer property after death. For example, a parent who wants to make sure that an adult child inherits money in a bank account can add the adult child’s name as a joint owner of the account. When the parent passes away, the adult child automatically becomes sole owner of the account and there will be no need to open a probate estate to transfer the money.

Transfer Property

Under South Carolina law, people can also transfer real estate after death by adding someone to the deed as a joint tenant with rights of survivorship. By adding a second person to a deed as a joint tenant with rights of survivorship, the real estate will automatically belong to the surviving owner when the other owner passes away. The surviving owner will only need to file a certified copy of the death certificate with the Register of Deeds for the county where the real estate is located.

When property is jointly owned, there is no need to go through probate to transfer the property. By avoiding probate, the property is transferred quickly and the costs of opening a probate estate are avoided. However, there are potential problems with adding another person’s name to your property.

Potential Problems With Joint Ownership

One potential problem is that the other person actually owns the property also. That ownership gives the second owner certain rights to the property that the initial owner might not want. For example, both owners of a bank account have the right to withdraw money from the account. In the perfect world where everyone can be trusted, that will not be a problem. Unfortunately, there are some people who will freely spend the funds in the bank account even if they were only named on a bank account for estate planning purposes.

There are also potential problems with joint real estate ownership. If you add someone’s name to the deed to your home for estate planning purposes and later decide to sell the home, the other owner will need to sign off on the sale also. A problem will arise if the joint tenant does not want to sell the property.

Estate Planning Documents

When developing an estate plan, it is important to make sure that all of your estate planning documents are consistent to avoid future problems. Dispute with heirs may arise if your will states that one heir will receive all of your money although a different heir is named as a joint owner of your bank account. It is very important to speak with an estate planning attorney to make sure that you do everything possible to avoid disputes after your death.

Contact An Attorney In Greenville For Help

At the De Bruin Law Firm in Greenville, South Carolina, our estate planning attorneys can help you to determine if adding another person’s name to your property is in your best interest. Our estate planning attorneys can also prepare any necessary deeds or other conveyancing documents. In the event there is a dispute resulting from the ownership or transfer of property, our estate planning attorneys will aggressively represent your interests. Contact the De Bruin Law Firm today to schedule an appointment with one of our estate planning attorneys.

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South Carolina Probate Process Part 1