Understanding Inheritance Laws in South Carolina

Every state has its own approach to estate planning and inheritance laws, and South Carolina is no exception. Understanding the state’s rules about wills, probate, and taxes is a great help for anyone preparing their estate or managing a loved one’s. While it may not be the most exciting topic to think about, getting ahead of it can prevent confusion and costly mistakes.

These inheritance laws are put in place for a reason, and are to be followed to avoid any inconveniences.  Inheritance laws include how estates are taxed, passed down, and even what makes a will valid or not.

Understanding South Carolina’s Inheritance Framework

When someone passes away, the first question will be if they have left a will behind. If they have, their estate is distributed according to those wishes provided it meets South Carolina’s legal standards. To be valid, a will must be written, signed by the creator (who must be at least 18 and of sound mind), and witnessed by two competent individuals. It must also name at least one beneficiary.

If no will exists, the estate is handled under South Carolina’s intestate succession laws, which determine how assets are divided among surviving relatives. This can leave the decision of distribution of assets up to the state rather than the family. Generally, the surviving spouse and children have priority, but the exact split depends on family circumstances.

Estate Taxes in South Carolina

Luckily, South Carolina does not impose a state inheritance or estate tax. This makes it one of the more favorable states for passing wealth after a death. However, that doesn’t mean an estate is completely tax-free.

Depending on the size of the estate and where assets are located, federal estate taxes may apply, and property in another state could be subject to that state’s inheritance laws. There are also potential costs associated with creating and maintaining an estate plan, such as attorney fees and document preparation, which are worth factoring into long-term financial planning.

According to the IRS, only estates valued at over $13.61 million in 2024 (adjusted annually) are subject to the federal estate tax. This means that a vast majority of South Carolina families won’t have to worry about it.

When Does an Estate Go to Probate?

Probate is the legal process of validating a will and distributing assets. In South Carolina, small estates valued at under $45,000 can often avoid the full probate process altogether. This allows families to access property more quickly.

However, if the estate exceeds that threshold, it must go through probate. The two main types of probate include:

• Informal probate: When there’s no conflict among heirs and everything proceeds smoothly internally.
• Formal probate: Required when disputes arise or when a judge’s oversight is necessary to ensure the estate is settled properly.

Understand Inheritance Laws with Grand Strand Law Group

Estate planning doesn’t just decide who gets what, it ensures you respect the wishes of your loved ones and friends. By ensuring your will is valid, understanding the probate process, and staying compliant with South Carolina’s inheritance laws, you can make the process far smoother for everyone involved.

Grand Strand Law Group can guide you through every step of the process, making estate planning simple and tailored to you. Give us a call at 843.492.5422. Learn about how we can help with estate planning now or in the future.