Estate Planning Law in South Carolina: Overview
South Carolina does not impose a state estate tax or inheritance tax. The state adopted a modified version of the Uniform Probate Code. South Carolina is a common law property state with an elective share of one-third. The state requires two witnesses for wills; holographic wills are not recognized. Transfer-on-death deeds are available. The small estate threshold is $25,000.
Key Statutes & Deadlines
State Estate Tax
No state estate tax
S.C. Code § 12-16-510
Small Estate Threshold
$25,000 for small estate affidavit
S.C. Code § 62-3-1201
Will Execution
Two witnesses; no holographic wills
S.C. Code § 62-2-502
Transfer-on-Death Deed
Available for real property
S.C. Code § 27-7-10
Elective Share
One-third of probate estate
S.C. Code § 62-2-201
Probate Under the UPC
South Carolina's modified UPC provides informal and formal probate tracks. Informal probate requires minimal court involvement. Each county has a Probate Court with an elected Probate Judge. The creditor claims period is eight months.
Transfer-on-Death Deeds
South Carolina allows TOD deeds for real property. The deed designates a beneficiary to receive property at death without probate. Combined with other beneficiary designations, many residents can avoid probate on most assets.
Trust Law
South Carolina has modern trust laws. The state allows trust decanting and modification. South Carolina enacted the South Carolina Trust Code providing comprehensive trust administration rules.
South Carolina Court System
South Carolina has a Probate Court in each of its 46 counties. Elected Probate Judges handle estate administration, will probate, guardianship, and conservatorship. Appeals go to the Circuit Court and then to the Court of Appeals and Supreme Court.
Damages & Penalties
South Carolina has no state estate or inheritance tax. Fiduciaries face liability for breach. Courts can remove and surcharge fiduciaries.
Recent Legislative Changes
South Carolina has adopted transfer-on-death deed legislation and updated its trust code.
Key Takeaways
- No state estate or inheritance tax.
- Modified UPC with Probate Courts in each county.
- Transfer-on-death deeds available.
- Holographic wills not recognized.
- Elective share is one-third.
- Small estates under $25,000 qualify for affidavit.
Frequently Asked Questions
Does South Carolina have a state estate tax?
No, South Carolina has no state estate or inheritance tax.
Are holographic wills valid?
No, two witnesses are required.
Does South Carolina allow transfer-on-death deeds?
Yes, TOD deeds are available for real property.
What is the elective share?
One-third of the probate estate.
What is the small estate threshold?
$25,000 for the small estate affidavit.
How long does probate take?
The creditor claims period is eight months. Straightforward estates typically complete in about a year.
This guide is provided for general informational purposes only and does not constitute legal advice. South Carolina laws may change, and the information here may not apply to your specific situation. For advice tailored to your circumstances, consult with a qualified South Carolina attorney.