Not all Powers of Attorney are created equal.  A client’s circumstances should dictate the breadth and extent of powers granted to an Agent under a Financial Power of Attorney, often called a General or Durable Power of Attorney.  Below, we have highlighted some of the critical provisions that you should thoroughly understand.   Gifting Power:…

  Probate is often necessary before a decedent’s assets can be transferred to beneficiaries after death.  While some assets may pass directly to beneficiaries by means of joint ownership with right of survivorship or beneficiary designation, the decedent’s other assets are considered “probate property.”   The Probate Court is charged with overseeing the probate process…

Upon death, a decedent’s assets must typically go through the Probate process before they can be transferred to beneficiaries.  In many cases, the probate process may not place a significant burden on beneficiaries; however, there are a number of reasons to consider avoiding probate in the State of South Carolina.   Delays:  After appointment, a…

  Failure to Plan for Death:  Without a Last Will and Testament or Inter Vivos Trust, state law dictates how your estate will be divided upon death.  In South Carolina, a surviving spouse is only entitled to a portion of a deceased spouse’s estate if the decedent is also survived by children.  This applies even…