Agreements among family members for the settlement of an intestate's estate will be upheld in the absence of fraud and when the rights of creditors are met. Intestate means that the decedent died without a valid will. The termination of any family controversy or the release of a reasonable, bona fide claim in an intestate estate have been held to be sufficient consideration for a family settlement.
South Carolina Agreement Between Heirs as to Division of Estate
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Inheritance Laws for Children in South Carolina When a person dies intestate and has both a surviving spouse and children, the children receive half of the estate collectively. The half of the estate that goes to the children is then divided among them, depending on how many children the deceased had.
The Estate Settlement Timeline: While there is no specific deadline for this in South Carolina law, it is generally best to do so within a month to prevent unnecessary delays in the probate process.
In South Carolina, you can use an Affidavit if an estate value is less than $25,000. You must wait 30 days after the death, and a probate judge will need to approve it. There is also potential to use a summary probate procedure, which is a possibility when an estate value is less than $25,000.
Petition to Determine Heirs To allow the Court to hold this hearing, an interested party (typically the spouse or child of the decedent) must formally Petition the Court setting forth the heirs or family members, the status of the family members and documents supporting the status and relationships.
Probate is when the court supervises the processes that transfer legal title of property from the estate of the person who has died (the "decedent") to his or her beneficiaries.
SECTION 62-2-101. Intestate estate. Any part of the estate of a decedent not effectively disposed of by his will passes to his heirs as prescribed in the following sections of this Code.
When heirs' property is created, the heirs own all the property together (in legal terms, they own the property as ?tenants in common?). In other words, they each own an interest in the undivided land rather than each heir owning an individual lot or piece of the land.
If the court determines that the property is heirs' property, the property must be partitioned under Article 3, Chapter 61, Title 15, unless all of the cotenants otherwise agree in a record.