South Carolina Executor's Deed of Distribution
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How to fill out Executor's Deed Of Distribution?
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FAQ
Q. May I prepare my own deed? A. Yes you may, but our office always recommends that you hire an attorney.
A copy of the recorded Deed of Distribution needs to be filed at the Probate Court. Real property located in other South Carolina counties will require the Deed of Distribution be recorded in that location. You should then deliver the recorded Deed of Distribution to the new owners of the property.
Even without a statutory guideline on executor fees in South Carolina, the general understanding among legal professionals suggests that an executor can expect to receive about 2-4% of the estate's value. However, this percentage can vary based on the specifics of the estate and the executor's duties.
In South Carolina, the personal representative must execute a deed of distribution with respect to real estate owned by a deceased person in order to transfer or release the estate's ownership or control over the property.
Before the executor can finalize probate and close the estate, they must provide a final accounting that includes: An itemized list of the estate's assets. Any funds or property received by the estate during its administration.
If there is a will and probate is needed then the executor needs apply for a grant of probate. If there is no will, then the administrator will need to apply for a grant of letters of administration. If you're struggling to find the will, see obtaining a copy of the will.
An executor in South Carolina has a fiduciary duty to act in the best interests of the estate and its beneficiaries. Therefore, upon your passing, they will notify your heirs and creditors (if you have some) of your death. Then they will pay all your debts, taxes, and other expenses you might have.
In order to start the estate process, the party that wishes to be named the executor of the estate can either retain a South Carolina probate lawyer or call the court in the county where the decedent resided and make an appointment with the clerk of the probate court.
