Last will and testament
An individual who is of sound mind and who is not a minor may make a Will.
A Last Will and Testament is one of the most important documents you can create during your lifetime. Your Last Will and Testament instructs the Probate Court and your loved ones as to how you would like your assets distributed once you've passed away. You can also designate a guardian for your minor children. Preparing your Last Will and Testament is your opportunity to make your wishes known regarding your assets. If you do not have a Will, then your assets will be distributed according to the South Carolina Probate Code.
healthcare power of attorney
With a Healthcare Power of Attorney, you are able to designate an agent who can make healthcare decisions for you in the event you are incapacitated. You can also express your wishes in this healthcare document that your agent must follow as to the healthcare you receive.
This document gives the person you name as your agent the power to make health care decisions for you if you cannot make the decision for yourself. This power includes the power to make decisions about life-sustaining treatment. Unless you state otherwise, your agent will have the same authority to make decisions about your health care as you would have. S.C. Code Ann. § 62-5-504
revocable living trust
If you are interested in avoiding Probate, for privacy reasons or for a quicker distribution of assets after your death, then a Revocable Living Trust may be the right option for you. A Revocable Trust is a legal entity that can be established to hold your assets, and most often you will serve as the Trustee of your own Trust while you're alive to control you assets.
durable power of attorney
A Durable Power of Attorney is one of the most important documents for anyone to have in place. With a Durable Power of Attorney you, the principal, will be able to designate an agent who can make decisions on your behalf in the event you are unavailable or become incapacitated.
An agent that has accepted appointment shall act in accordance with the principal's reasonable expectations to the extent actually known by the agent and in the principal's best interest; in good faith; and only within the scope of authority granted in the power of attorney. S.C. Code Ann. § 62-8-114(a)
Limited Power of Attorney
A limited power of attorney can be useful when you need an agent to act in your place for a specific purpose and time period. It is often used when you are unable to handle certain affairs due to short-term illness or other commitments.
Irrevocable trust
If you set up and transfer your assets to an Irrevocable Trust (called funding), the property no longer belongs to you. This is a big decision that shouldn't be taken lightly. Once your Trust is funded, your property will be safe from creditors, and if established and funded early enough, may allow you to qualify for Medicaid after five years.
If you are looking to avoid Estate Taxes, an Irrevocable Trust may be an option to consider as well.
probate administration
When a loved one passes away, their heirs may have never dealt with a Probate Court before. The Probate process is the legal court process of settling the estate of someone who has passed away. Probating an estate involves several steps, typically over the span of 9 months or more, to ensure that the decedent's wishes are carried out and the title of real property and personal property passes to the decedent's heirs or beneficiaries.
guardianships and conservatorships
When an adult is incapacitated, a petition may be filed with the Probate Court to appoint a legal Guardian and/or Conservator to take care of their health, wellbeing and/or finances. In South Carolina, an incapacitated person is someone who is impaired by reason of mental illness, mental deficiency, physical illness or disability, advanced age, chronic use of drugs, chronic intoxication, or other cause (except minority) to the extent that he lacks sufficient understanding or capacity to make or communicate responsible decisions concerning his person or property. S.C. Code Ann. § 62-5-101