What to Do if You’re Named Executor in South Carolina

When a person creates a will, one of their tasks is to name someone as the executor of the will, which is the person who will make sure the estate is settled after the creator’s death. At Mack & Mack Attorneys, we understand how overwhelming being an executor can be, especially during an already difficult time. We can tell you what to do if you’re named executor in South Carolina.

Who Can Be an Executor in South Carolina?

The only requirements for a person to be an executor of an estate in South Carolina are that they are at least 18 years old and have the capacity to make legal decisions. However, many people are not aware that being named as executor in someone’s will doesn’t automatically mean that person will be named the executor in practice. Some people decline, and in some cases, the courts may reject a potential executor if a judge finds them unsuitable.

In general, the executor can be a surviving spouse, adult child, parent, or other close family member. Executors are not always properly notified of their role before the person’s death. According to Senior Living’s estate planning report, more than half of executors in the US were not even aware that there was a will.

What a South Carolina Executor Does

An executor has a legal responsibility to manage an estate. Some tasks that are common for executors to handle include:

• Initiating probate when applicable and filing necessary legal paperwork with the courts
• Notifying parties such as government agencies and financial institutions
• Identifying assets like real estate, bank accounts, investments, and personal property
• Paying off the estate’s debts, medical and funeral expenses, and income and other taxes as necessary
• Distributing assets to beneficiaries according to the instructions in the will
• Managing the estate while carrying out their other duties
• Representing the estate in court proceedings as needed

The Role of Probate Courts in South Carolina

Probate courts in South Carolina oversee the settlement of estates and ensure that everything is handled according to the legal documents of the decedent, such as trusts or a last will and testament, as well as the state probate laws. While all estates are required to make sure debts and taxes are paid and other legal matters are settled, not all estates have to go through the probate process.

When an estate’s value is less than $45,000, the executor may not have to complete the probate process. However, even when an estate avoids probate, there may still be some legal paperwork that needs to be filed. When you hire an estate planning lawyer, they can help you determine what is needed for your case.

Legal Help for Executors

Many people also do not know that being named an executor does not mean having to do all the work of managing the estate yourself. Given that an executor can be held legally liable if they fail in their duty, it makes sense that many executors choose to collaborate with a trusted estate planning attorney and other professionals who are familiar with South Carolina estate planning laws.

An estate planning attorney can:

• Interpret the will
• Resolve any disputes
• Handle court filings
• Assist with asset valuation and management
• Handle debt settlement and creditor communications
• Navigate court proceedings and hearings

FAQs

Q: What Is the Most Important Part of Being an Executor of an Estate?

A: The most important part of being an executor of an estate is managing the financial and legal obligations of the estate. It is essential that an executor act in the interest of the estate, and mismanaging or abusing that responsibility can lead to legal consequences. The specific tasks of the executor can often depend on the size and complexity of the estate, as well as the details of relevant legal documents such as the will or trusts.

Q: How Long Does an Executor Have to Settle an Estate in SC?

A: There’s not a specific timeline for how long an executor has to settle an estate in SC; however, they must begin the process within 10 years of the date of death. The amount of time it takes to settle depends on several factors, including whether there’s a will and whether the estate is contested. A qualified estate planning attorney can help determine a reasonable timeline for your case.

Q: Can an Executor Withdraw Money From a Decedent’s Bank Account?

A: An executor cannot withdraw money from a decedent’s bank account until after they have been officially appointed by the probate court. Once the executor is officially named, they can withdraw money from the estate account, but the money must only be used for purposes related to the estate, such as paying debts, funeral expenses, or administrative costs. Mixing estate funds with the executor’s personal funds is illegal and can lead to criminal charges.

Q: How Much Power Does an Estate Executor Have?

A: An estate executor has a significant amount of power in most cases. However, the actions they can take within their role are limited by laws related to probate, inheritance, taxes, and other relevant areas. To close an estate, the executor has to file a final accounting of how the assets of the estate were distributed, which is reviewed by the court for accuracy and adherence to the law. Misusing or abusing your power as an executor can have long-lasting consequences.

Hire an Estate Planning Lawyer

Mack & Mack Attorneys has been offering high-quality legal services to the York County area since 1960. Our skilled and compassionate team of legal professionals knows how stressful and challenging it can be to be the executor of a loved one’s estate. Our estate planning lawyers are locals with the experience to alleviate the pressure of dealing with these challenging circumstances.

Our top priority is to protect the rights and interests of our clients and fiercely advocate for the most favorable outcome possible in each case. If you need help as the executor of an estate, contact Mack & Mack Attorneys as soon as possible to set up an initial consultation and discuss the details of your case.