What Assets Must Be Listed for Probate?
Preparing your South Carolina estate doesn’t have to be hard. If you play your cards right, you might be able to plan your estate in a short amount of time. The key will be to list all assets in the correct manner and order of precedence. Your lawyer can help you handle the details. This includes the items you must list.
Probate assets must be listed with values
The first thing you will need to do to make the process smoother will be to list all of your probate assets. You must also include an accurate listing of their full value. Once you have drawn up a complete list of all of your assets, you must then file it with the probate court. This is basically a list of assets that will be included in your will.
Your full list of probate assets will include items such as real estate, vehicles, jewelry, clothing, and any other possessions you may possess the title to. These should all be present and correct on your list in order to go through the full probate process. Once completed, they can be distributed to your heirs.
Do you always need to go through probate?
Preparing your assets for probate will be an essential part of estate planning. You may not have to go through this process if the value of your estate is judged to be below a certain dollar amount. This is a matter you should discuss with financial and legal experts.
There are certain benefits that you gain by going through probate even if such a move is not legally required. If you desire to make your will public, this is the best way to do it. Probate also cuts costs if you don’t have the money to conduct estate planning while you are still alive.