Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a licensed attorney in South Carolina to address your specific situation.
Detailed Answer
When someone passes away in South Carolina, their estate must go through probate to ensure all assets are located, debts are paid, and remaining property is distributed according to the will or state law. Below are the key steps required under South Carolina law.
1. Appoint and Qualify a Personal Representative
A personal representative (executor or administrator) handles estate administration. The court issues Letters of Appointment once the representative qualifies by taking an oath and posting any required bond.
See S.C. Code Ann. § 62-3-703: Appointment of Personal Representative.
2. Locate and Secure Assets
The representative must identify and gather all estate assets, including:
- Bank and brokerage accounts
- Real estate (deeds, titles)
- Vehicles
- Life insurance and retirement benefits
- Personal property (jewelry, collectibles)
They should review financial statements, mail, and digital records. Notify institutions of the decedent’s death to freeze accounts and prevent unauthorized transactions.
3. Inventory and Appraise Assets
Within three months after qualification, the representative must file an inventory and appraisal of estate assets with the probate court. This report lists all assets and their fair market values as of the date of death.
Refer to S.C. Code Ann. § 62-3-801: Inventory and Appraisement.
4. Notify Creditors and Pay Debts
Publish a notice to creditors in a local newspaper and send direct notices to known creditors. Creditors have three months from publication to file claims.
After the claims period ends, the representative assesses valid claims and pays them from estate funds in order of priority.
See S.C. Code Ann. § 62-3-722: Claims Against the Estate.
5. Prepare Final Account
The representative prepares a final accounting showing all receipts, disbursements (including debt payments), and remaining balances earmarked for distribution. The court must approve this report before distribution.
6. Distribute Remaining Assets
Once debts and expenses are paid and the final account is approved, the representative distributes assets according to the will or, if there is no valid will, under South Carolina’s intestacy rules.
Consult S.C. Code Ann. § 62-3-809: Distribution.
After distribution, the representative petitions the court for discharge and closure of the estate.
Helpful Hints
- Keep organized records of every transaction and communication.
- Use estate banking accounts to separate personal and estate funds.
- Consult a probate attorney if estate assets or debts are complex.
- Watch deadlines: inventory due in 3 months; creditor claims cut-off is 3 months after notice.
- Consider small-estate procedures (under $25,000) to simplify administration.