Estate Administration

In South Carolina, an executor is the person appointed in a Last Will and Testament that will be responsible for managing the estate throughout the probate proceedings. The personal representative of an estate is the same role as the executor, but is appointed by the court instead of the Last Will and Testament. A court may need to appoint a personal representative in a number of case such as when the decedent died without a valid will or a will appointed an executor who is unable or unwilling to serve in that role. Regardless of the official title, the executor or personal representative of an estate has extensive responsibilities that can be quite demanding. As such, they are entitled to compensation for their efforts.

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Personal representatives are tasked with many important responsibilities when it comes to estate administration in South Carolina. Among these responsibilities is properly addressing creditor claims. Proper notice must be provided to potential creditors of the estate and proper payment of valid creditor claims must be made. This is a key part in the estate administration process as well as the part that can take the most time to complete.

Creditor Claims During Estate Administration in South Carolina

In South Carolina, the personal representative of an estate must put creditors on notice of estate administration proceedings.

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Have you heard of probate? It is the court-supervised process of administering a person’s estate after he or she dies. A notoriously lengthy and costly process, people often seek to establish estate plans that allow for avoiding probate, at least partially. Why can probate be so time consuming? Well, there is a lot that needs to be accomplished during the process.
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If you have done any initial investigation into the many benefits of estate planning, you may have read that one of the big potential perks of comprehensive estate planning is that you can put tools in place that help your assets from avoiding probate, in whole or in part. Why is it so great if you can avoid probate? Well, for starters, probate can be expensive. The court fees alone can take a significant chunk out of an estate’s value.
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The personal representative of an estate has a lengthy list of important tasks to accomplish in probate proceedings. In fact, while probate is the court-supervised process that follows in the wake of a person’s death, the personal representative is instrumental in helping to ensure that probate goes smoothly, that everything needed gets done, and that things get accomplished without undue delays and complications. Personal representatives play a significant role in the administration of the estates they are appointed to oversee.

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A personal representative, otherwise referred to as an “executor” or “administrator,” of an estate plays a vital role during the probate process. This individual carries the responsibility of administering and distributing the decedent’s estate. Oftentimes, the personal representative is named in the decedent’s will. Other times, there is no named personal representative of the estate. When this happens, who is responsible for Read more . . .

During probate of an estate, the court oversees the management and distribution of a deceased individual’s assets. Additionally, all outstanding debts of the estate are paid. An executor or administrator of the estate will be appointed to carry out the necessary tasks of probate.
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While some people may have heard the word “probate,” not many know what it means or what probate involves. Some may simply have been warned to try and avoid probate. It is expensive! It takes too much time! This is what is usually said when probate is mentioned. The majority of estates, however, will go through Read more . . .

You may have heard many negative sentiments about the probate process. However, many people do not actually understand the specifics about why people try to avoid probate. Proper planning ahead of time can help ensure that your estate will not need to go through probate at all or will, at least, substantially avoid it.
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Choosing an executor is one of several important decisions you will need to make during the estate planning process. It may be easy just to pick one of your kids or another family member to take on this role, which is fine in some cases, but there several considerations to keep in mind before doing so. The executor plays a central role in the administration of your estate. There is much responsibility involved, and other dynamics at play that should be taken into account in order for the Read more . . .

Some states, like North Carolina, have provisions for smaller estates that allow the estate to be administered in a way that is less expensive and time-consuming than the probate process for larger estates. To qualify for small estate administration, certain requirements must be met. Additionally, you must be prepared to pay a court fee and carefully prepare all of the requisite forms.
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