South Carolina Probate | Inheritance Advances in South Carolina

When a loved one passes, you shouldn’t have to deal with the stress of South Carolina probate. That’s why Inheritance Funding (IFC) will help you access your inheritance money without complications or restrictions. We’re proud to be the largest and oldest cash advance company in the industry.

Is Probate Required in South Carolina?

Probate is required for most estates in South Carolina, especially if the person who has passed away — the decedent — owned real estate. Probate may also be necessary if:

• The decedent died intestate — they did not create a will.
• The assets are high-value and complex.
• The heir or beneficiary is a minor.
• There are disputes regarding the proper heir or how assets are divided.

When an estate goes through probate, assets that will be required to go through the process include:

• Any real estate the decedent held as a tenant in common
• Property held in the decedent’s name only
• The decedent’s interest in a partnership, LLC or corporation

Some assets do not enter the probate process since they are required by law to transfer directly to a beneficiary or a joint owner. These assets include:

• Those placed in a living trust
• Life Insurance policies
• Retirement funds with a named beneficiary.
• Bank accounts with payable-upon-death provisions
• Those in a pension plan
• Securities with a named beneficiary
• Real estate jointly held with the right of survivorship
• Other joint accounts with payable- or transferable-upon-death provisions

Some estates may qualify for a simplified probate process. These estates must be valued at or lower than $25,000 and have no real property. Some estates may also qualify if they have a sole beneficiary who is also the executor.

Steps to Settling an Estate in South Carolina

The probate process in South Carolina follows these steps:

1. Deliver the will: Someone with the decedent’s will must deliver it to the probate court judge within 30 days of the death.
2. Appoint a personal representative: The will may name a personal representative, and this person is officially appointed by the court.
3. Notify the heirs: Heirs are notified if they are in the will. If the decedent died intestate, the intestate heirs are notified.
4. Appraise the estate: Provide values for the various assets in the estate and file the appraisement within 90 days of opening the estate.
5. Take care of accounting needs: Accounting tasks include paying applicable taxes, debts and ongoing expenses while settling the estate.
6. Disburse the money: The money left over is distributed to the heirs.
7. Close the estate: The personal representative files documents with the court to close the estate.

How Long Does Probate Take in South Carolina?

According to South Carolina law, all heirs must go through probate before collecting their inheritance. Probate undergoes many complications and delays and can take anywhere from months to years to complete. However, Probate Court is necessary for the legal distribution of a person’s belongings after they’ve passed away. During this time, creditors can submit claims against the estate.

The length of probate depends on factors such as:

• The complexity and size of the estate
• Whether lawsuits are filed
• Whether the decedent has a will or not
• Whether or not any heirs contest the will

Though the probate process in South Carolina may appear straightforward, it’s actually quite long and complex. Unfortunately, you cannot access your inheritance until the estate is completely settled, preventing heirs from getting their money when they need it.

How Much Does Probate Cost?

South Carolina Code defines the probate fees the estate is subject to. Some of the costs that can be included in probate include:

• Executor fees
• Probate attorney expenses if one is consulted
• Creditor notice fees
• Court filing fees
• Probate bond

The actual amount of these fees is based on the gross value of the decedent’s probate estate, so probate costs are different for every case. Each gross value tier has a different fee calculation. Fees are calculated based on the property’s valuation between and above specific amounts.

The estate pays for these probate costs, which means the amount of money each heir gets will decrease by the time the probate process is complete.

How to Determine Next of Kin

If the decedent leaves a will, the probate court will ensure heirs receive the money and assets their loved one wished them to have. If the estate owner dies intestate, South Carolina intestacy laws apply to determine the inheritance’s distribution.

The inheritance structure defined in state law is:

1. Spouse
2. Children
3. Parents
4. Siblings
5. Grandparents
6. Great-grandparents
7. The closest surviving blood relative

The next of kin eligible for an inheritance — and how much they’ll get — depends on who survives. The decedent’s survivors and their shares of the estate follow these guidelines:

• Spouse only: The spouse gets the entire estate.
• Spouse and children: The spouse receives half of the estate, and the children get equal shares of the remaining half. Grandchildren receive their parent’s share for any of the decedent’s children who have passed.
• Parents only: The parents receive the entire estate.
• Siblings only: The estate is divided equally among the siblings.
• Grandparents only: The estate is split between the decedent’s paternal grandparents and maternal grandparents.
• Great-grandparents: The estate is divided between the decedent’s paternal great-grandparents and maternal great-grandparents.

How Can You Use Your Inheritance Money in South Carolina Immediately?

It’s completely normal to feel frustrated or discouraged when facing South Carolina probate — after all, you deserve access to the money that’s rightfully yours. Though it may seem too good to be true, there is one way to collect your cash without waiting for probate to end.

When researching loans during probate, it’s easy to be confused by all the available options. Fortunately, our probate advances are much better than loans. There’s no income or credit check, no monthly payments, and no collateral needed.

Cash advances are your solution to receiving an inheritance instantly. At IFC, we make it as simple and stress-free as possible for you to get a probate advance in South Carolina. We’ll start by asking you some basic questions about your inheritance in our initial meeting, including the amount of money you’d like to access from the estate. We’ll then walk you through some straightforward paperwork and send you your cash advance within the same day.

Where to Receive a Probate Advance in South Carolina

No matter where you live in the USA, you’re eligible for a probate advance at IFC. For estates that are being probated in South Carolina, we offer coverage in:

• Greenville County
• Charleston County
• Spartanburg County
• Horry County
• Richland County
• York County
• Lexington County
• Anderson County
• Beaufort County
• & ALL other counties!

Our South Carolina Inheritance Advance Process

If collecting an inheritance is more complicated than you had imagined, Inheritance Funding can help. Our specialized four-step cash advance process will enable you to skip the stress of South Carolina probate and get cash as soon as the same day. All you have to do is join our friendly staff for a quick consultation, and we’ll take care of the rest.

As an industry leader in our field, we provide benefits you can’t find anywhere else:

• Money for any use: You have the freedom to spend your inheritance money however you please.
• Lower prices than competitors: We’ll beat out offers from competing companies to get you the lowest cost.
• No monthly payments or fees: Our cash advances will never impact other heirs or pose unexpected expenses.
• No repayment responsibility: We provide inheritance advances, not loans. That’s why you’ll never be responsible for repayment.
• Easy approval: We don’t focus on your income, credit score or employment history when approving you for a cash advance.
• Fast and convenient cash: You can move through the process quickly and conveniently on your mobile device and receive your money that same day.

Skip South Carolina Probate With Cash Advances at IFC

You can simplify the inheritance process with probate advances at Inheritance Funding. Since 1992, we’re the provider you can trust.

Contact us to schedule your free consultation today!