16 May Where There’s a Will, There’s a Way
A Last Will and Testament can be an important part of a South Carolina estate plan. A Will allows you to make important decisions about your property, the administration of your estate, and who you would want to serve as guardian of your minor children. Depending on your circumstances, your Will may serve as your primary estate-planning document or work alongside a revocable living trust as part of a broader estate plan.
Not sure how a Will and trust fit together? Read our guide, “Will vs. Trust in South Carolina: Why You May Need Both.”
Who Should Consider a Will?
A Will can be important regardless of the size of your estate. It allows you to make decisions about who receives probate property, who should administer your estate, and, importantly for parents of minor children, who you would want to serve as guardian.
A Will can also play an important role in a trust-based estate plan. At Patterson & Williams, when we prepare a trust-based plan, we generally also prepare a simple Will to work alongside the trust and serve as a backup.
How Property is Transferred Without a Will in South Carolina
If you die without a valid Will, property passing through your probate estate may be distributed according to South Carolina’s intestate succession laws rather than according to your personal wishes. Who inherits depends on your family circumstances.
That makes a Will important even when your wishes seem straightforward: it allows you—not the state’s default rules—to establish how your probate estate should be handled.
Benefits of a Will
A Will does more than spell out who inherits how much of each item. It establishes a plan for your family after your death and allows you to select a personal representative who you trust to ensure the terms of the Will are followed and your estate is properly distributed. Specifically, a Will can name a guardian for minor children or instruct your family on whether you want to be buried, cremated, or donate your body for research and any other specific funeral plans. It can also allow you to make charitable contributions to organizations or causes you hold dear.
A Will, however, is only one estate-planning tool. Trusts, beneficiary designations, powers of attorney, and the way property is titled can all play important roles. Proper beneficiary designations, account ownership, real estate titling, and trust planning can affect which assets pass through probate. For some clients, reducing probate involvement is an important goal. Others may value the formal procedures and court oversight that probate provides.
Why You Should Hire a Professional Estate Planning Attorney?
Estate planning involves more than simply preparing a Will. An estate planning attorney can help ensure that your Will, beneficiary designations, account ownership, property titling, and other planning documents work together.
Our office typically prepares a Health Care Power of Attorney and a Durable Power of Attorney in conjunction with preparing a Will. Both of these documents are important parts of the estate planning process.
Begin Planning for Your Family’s Future
A Will may be an important part of your estate plan, but it doesn’t have to stand alone. Depending on your circumstances, a Will, trust, powers of attorney, beneficiary designations, and property ownership can work together as part of a comprehensive plan.
Patterson & Williams helps individuals and families throughout Hilton Head Island, Bluffton, and the Lowcountry develop estate plans based on their property, family circumstances, and goals.
Contact Patterson & Williams today to discuss your estate-planning options.
La
uren Williams is an attorney with Patterson & Williams, P.A. in Hilton Head, SC. She can be reached at (843) 341-9300 or lauren@pwpa.law.
This post has been prepared by Patterson & Williams, P.A. for informational purposes only. Information or interaction on this page should not be construed as establishing a client-attorney relationship or as legal advice. For advice about your specific situation, please consult one of our attorneys.