What happens if you die without a will?

If you die without a will in South Carolina, then the State of South Carolina will determine how your assets will be divided.  If you die without a will you are considered to have died intestate rather than testate (with a will).  If you are married then all of your estate will go to your spouse unless you have children.  People who die leaving a spouse and children will have ½ of their estate go to their spouse while the remaining ½ will go to the surviving child/children.  For those people who are not married and die without a will, their entire estate will go to their children.  If someone dies without children, then their estate will go to their parents.  If there are no surviving parents, then the estate will be divided among siblings and possibly the siblings’ children.

Of course, the easiest and cheapest way to prevent the division of your estate being decided by the State of South Carolina is by having an attorney draft a will.  What few people realize is that it is cheaper to die with a will than to dies without.  Adding one important sentence to a will can save your estate more than what it would cost to have paid an attorney to draft a will.  Call (864-228-1616) or email (rdburney@turnerandburney.com)  today to find out more!  Also, be sure to ask me how you can possibly avoid the entire probate process all together.  I look forward to hearing from you.

Rhett Burney
Attorney at Law
rdburney@turnerandburney.com
(864) 228-1616
www.turnerandburney.com
www.rhettburney.com

Guess What?  You’re Dying!

Here is the only 100% guarantee I will make as an attorney. I guarantee that one day your life on this earth will end.  If this fact catches you by surprise, please call me.  We have a lot to discuss.  If you accept this fact, you need to take several steps in preparation for your last day.

#1        Get a will, put it in a safe place, and tell someone where to find it.  Having a will is useless if no one can find it.

#2       Make a list of you bank accounts, retirement accounts, and life insurance policies.  Put the list in a safe place and tell someone where to find it.

#3       Make a list of your passwords for your online accounts.  Put the list in a safe place and tell someone where to find it.  Do you see a pattern here?

#4       If you are married and your spouse is not on the deed to your home, put your spouse on the deed.  Speak to an attorney on how to transfer your house to your spouse so the home isn’t caught up in the probate process.  This one task could be the difference in your spouse having a home to live in or not.

#5        Write a letter or do a video from you to your loved ones.  Most of us don’t know how or when we are going to die.  The words you say to your family may be what helps them cope with your death.  When you love someone, you can never say it too much.

#6       Plan your funeral. Do you want to be buried or cremated?  Do you want flowers? Do you want an open casket or a closed casket?  Do you want the mood to be somber or festive?  If you don’t make a directive now, I will almost guarantee you won’t have much input the day of your funeral.

#7        Get a Power of Attorney.  Your last day is coming, but hopefully there are a few days left in between now and then.  A power of attorney can be very valuable until the will takes effect at your death.

Rhett Burney
Attorney at Law
rdburney@turnerandburney.com
(864) 228-1616
www.turnerandburney.com
www.rhettburney.com

Do You Need A Power of Attorney?

What is a Power of Attorney?

A Power of Attorney is a document that allows one person to authorize another person or organization to act on that person’s behalf. For instance, a husband could sign a Power of Attorney which would allow his wife to take care of his financial affairs and other responsibilities in case he is unable or unwilling to take care of his affairs.

So, what happens if you do not have a Power of Attorney? If you do not have a Power of Attorney and you become physically or mentally disabled to the point that you cannot handle your affairs, then someone like your spouse will have to bring a lawsuit in Probate Court in order to have your spouse appointed as your conservator. Having to bring this type of legal action is lengthy and expensive. For instance, a proper Power of Attorney will only cost about $200 while a legal proceeding in Probate Court will cost thousands of dollars.

Do you need a Power of Attorney? Absolutely. We do not know what tomorrow will bring, but there is a good chance that at some point in our lives we will not be able to take care of ourselves. Unfortunately, we do not know when that time will come, but it will come. Good financial planning involves wise preparation. If you do not have a Power of Attorney, please call me (864) 228-1616) or email me (rdburney@turnerandburney.com), and we can discuss in greater detail the benefits of having a Power of Attorney.

Rhett Burney
Attorney at Law
www.turnerandburney.com
www.rhettburney.com

What Happens If You Die Without a Will?

What happens if you die without a will?

If you die without a will in South Carolina, then the State of South Carolina will determine how your assets will be divided. If you die without a will you are considered to have died intestate rather than testate (with a will). If you are married then all of your estate will go to your spouse unless you have children. People who die leaving a spouse and children will have ½ of their estate go to their spouse while the remaining ½ will go to the surviving child/children. For those people who are not married and die without a will, their entire estate will go to their children. If someone dies without children or a spouse, then their estate will go to their parents. If there are no surviving parents, then the estate will be divided among siblings and possibly the siblings’ children.

Of course, the easiest and cheapest way to prevent the division of your estate being decided by the State of South Carolina is by having an attorney draft a will. What few people realize is that it is cheaper to die with a will than to die without. Adding one important sentence to a will can save your estate more than what it would cost to have paid an attorney to draft a will. Call me (864-228-1616) or email me (rdburney@turnerandburney.com) today to find out more! Also, be sure to ask me how you can possibly avoid the entire probate process all together. I look forward to hearing from you.

Rhett Burney
Attorney at Law

www.turnerandburney.com
www.rhettburney.com