The Importance of a Last Will and Testament
A Last Will and Testament, often referred to as a “Will,” is a way to protect your assets and your family at the time of your passing. A Will can be used to transfer property to people or organizations; provide for the care of your minor children or other dependents; provide for property management for property left to minor children, and to make a determination of who will be responsible to carry out the terms of the Will.
If you die without a Will, your property will pass through the state “intestacy” laws. South Carolina’s intestacy laws dictate that where there is a spouse, all property passes to the spouse. If there is no spouse, but there are children, all property will pass to children. Where there is no spouse or children, the property will then pass to the decedent’s parent, or if no parents remain alive, to the decedent’s siblings. It will then pass to more distant relatives, or if there are no surviving relatives to the state.