importance

Importance of Estate Planning

I hope that you will take this opportunity to review your estate planning documents. You will need an attorney to complete your estate planning. To choose a lawyer, you should consult your family and friends. Martindale-Hubbell (https://www.martindale.com/find-attorneys) is another way to select a lawyer. Martindale-Hubbell identifies attorneys by practice area and location and has a peer rating for each attorney. If you cannot afford an attorney, please call South Carolina Bar Pro Bono legal service at 1-800-868-2284 or visit our Resources page for list of other contacts.

As a public service, we provide samples to get you started on your estate planning. We hope that you will also encourage other family members to complete their estate plan. You should work with an attorney and your other professional advisors, and consider the estate planning documents that we have provided.

As your Probate Judge, I am here to serve you. If you should have questions, comments, or suggestions, please let me know. I thank you for electing me as your Probate Judge and hope that we help make probate a pleasant experience considering the circumstances.

Sincerely,

Irvin G. Condon

Estate Planning Documents

Estate Planning Documents (Click on each title to view document)

ESTATE PLANNING CHECKLIST

A short checklist prepared by the American Bar Association to assist in estate planning.

www.americanbar.org

ESTATE PLANNING QUESTIONNAIRE

Information that an attorney will need in order to adequately prepare your estate planning documents.

https://estate.findlaw.com

LAST WILL AND TESTAMENT

A document allowing a person, prior to death, to direct and prepare the future administration of his/her estate, name a Personal Representative for the estate, include a testamentary trust, propose a guardian for your minor children, etc. If you do not have a Will, then the intestacy statute will control your estate property.

Last Will and Testament - S.C. Code Ann. § 62-3-101

Intestacy - S.C. Code Ann. § 62-2-101

TRUST – REVOCABLE LIVING TRUST

An estate planning tool used to manage assets during a person's life and/or at death, as well as the distribution of a Decedent's property to individuals named in the document.

S.C. Code Ann. § 62-7-101

DURABLE POWER OF ATTORNEY – BUSINESS AND FINANCIAL

A document that legally assigns authority to an agent to act on a person's behalf, with the agent’s authority automatically continuing if the person becomes incapacitated. Must be recorded to be effective. Avoids the need for a court appointed conservator.

S.C. Code Ann. § 62-8-101

HEALTH CARE POWER OF ATTORNEY

A document in which a person directs his/her health-related decisions to an agent in the event that the person becomes mentally or physically incapacitated. Does not have to be recorded. Avoids the need for a court appointed guardian.

S.C. Code Ann. § 62-5-504

DECLARATION OF A DESIRE FOR NATURAL DEATH OR LIVING WILL

A document in which an individual provides instructions in the event of incapacitation or incapability to make medical decisions-primarily for end-of-life decisions.

S.C. Code Ann. § 44-77-10

FIVE WISHES

An advance directive, written in everyday language, which helps people to express their wishes for medical treatment and end of life situations.

www.agingwithdignity.org

DO NOT RESUSCITATE ORDER

A legal order to withhold cardiopulmonary resuscitation (CPR) or advanced cardiac life support (ACLS), in respect of the wishes of the patient, in the event that the patient's heart stops beating or the patient stops breathing.

S.C. Code Ann. § 44-78-10

PHYSICIANS ORDERS FOR SCOPE OF TREATMENT (POST)

A document that combines a patient's wishes, in the event of a medical emergency, with a physician’s order.

https://www.sc-post.org

SAFE CREMATION LAW

A law that provides the terminology and proper procedure for cremation.

S.C. Code Ann. § 32-8-300

S.C. GIFT OF LIFE (ORGAN DONATION)

A law which defines the procedure for anatomical donations after death.

S.C. Code Ann. § 44-43-10

COASTAL COMMUNITY FOUNDATION

A local organization that manages charitable giving directed by the donor.

coastalcommunityfoundation.org

PET TRUST

A legal arrangement to provide care for a pet after its owner dies.

S.C. Code Ann. § 62-7-408

terminology

Terminology Used in Estate Planning

INTESTATE

A person who dies without a Will.

TESTATE

A person who dies with a Will.

PERSONAL REPRESENTATIVE/EXECUTOR

The personal representative of an Estate is the individual appointed, either by formal or informal appointment, who is responsible for overseeing the probate of an Estate following the Decedent’s death. An executor/executrix is the name used previously for Personal Representative.

PROBATE ASSETS

Property owned by the Decedent, which was owned solely in his/her name (i.e. real estate, car title) or as “tenants in common” share in property, such as when the Decedent shares an interest in an investment with another individual. Probate assets are controlled by the Will, or the intestacy statute if there is no Will.

NON-PROBATE ASSETS

Property jointly owned by the Decedent and his/her spouse (i.e. life insurance proceeds). Non-probate assets go directly to the beneficiaries without court proceedings.

TRUST

An estate-planning tool used to manage a person’s assets during their life and/or the distribution of a Decedent’s property to individuals named in the document.

REVOCABLE LIVING TRUSTS

A type of trust where provisions can be altered or canceled dependent on the grantor. Income is earned and distributed to the grantor during the life of the trust and is transferred to the beneficiaries after the grantor’s death.

IRREVOCABLE TRUSTS

A type of trust that cannot be amended, modified, changed, or revoked without the permission of the beneficiary.

TESTAMENTARY TRUSTS

A trust which arises upon the death of the testator, and which is specified in his/her will.

SPECIAL NEEDS TRUSTS

A trust made specifically for the benefit of mentally ill or disabled

tools

Other Estate Planning Tools

LONG TERM CARE INSURANCE

Coverage that provides for various types of long-term care, such as nursing-home care, home-health care, or adult day care, for persons over 65 or for persons with a disability needing constant supervision.

LIFE INSURANCE

Insurance coverage which pays a sum of money to a beneficiary upon the death of the insured person or after a set period of time.

JOINT ACCOUNTS

A bank account held by two or more individuals, with each person having the right to deposit or withdraw funds.

RETIREMENT ACCOUNTS

An investing tool used by individuals to earmark funds for retirement savings.