Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult an attorney licensed in South Carolina for guidance tailored to your situation.
Detailed Answer
Preparing key documents in advance can minimize delay and cost in South Carolina probate. Below is a checklist of essential information and records to gather before death.
1. Last Will and Testament
Keep the original will and any codicils in a safe, accessible location. In South Carolina, a valid will must be signed by the testator and two credible witnesses under SC Code Ann. §62-2-502 (link). Include contact details for the person holding the original document.
2. Trust Documents
If you have revocable or irrevocable trusts, gather trust agreements and any amendments. South Carolina Trust Code §62-7-601 (link) governs trust validity. List trustees’ names and contact info.
3. Beneficiary Designations
Compile life insurance policies, retirement account statements (401(k), IRA), and pay-on-death or transfer-on-death designations on bank accounts. In South Carolina, nonprobate transfers bypass probate under SC Code Ann. §62-1-201 (link).
4. Financial Account Records
Gather recent statements for checking, savings, investment, and brokerage accounts. Note account numbers, institution names, and online login credentials.
5. Real Property Documents
Locate deeds, mortgage statements, property tax records, and title insurance policies. Ensure these documents are current and properly recorded with the county recorder.
6. Vehicle Titles
Include titles for cars, boats, or other titled vehicles. If they have a lien, gather loan statements.
7. Insurance Policies and Contracts
Collect homeowner’s, auto, health, liability, and long-term care insurance policies. Note policy numbers and agent contacts.
8. Business Ownership Documents
If you own or co-own a business, compile partnership agreements, bylaws, shareholder agreements, or operating agreements.
9. Safe Deposit Box Information
Note the box location, bank name, and key custodian. Provide access authorization if possible.
10. Personal Identification Records
Keep certified copies of birth and marriage certificates, Social Security card, military discharge papers (DD-214), and driver’s license.
11. List of Debts and Obligations
Include mortgages, credit card accounts, personal loans, and medical bills. Note creditor contact information.
12. Digital Assets Inventory
Prepare a secure list of usernames, passwords, and instructions for email, social media, cloud storage, and cryptocurrency accounts.
Helpful Hints
- Review and update documents every 2–3 years or after major life events.
- Choose a trusted person (e.g., executor or successor trustee) to know where records are stored.
- Store originals or certified copies in a fireproof safe or with a licensed attorney.
- Provide family members with a high-level summary of key documents and how to access them.
- Confirm beneficiary designations match your will and trust to avoid conflicts.