Let's Talk About: Simple Wills

Today we are going to discuss Wills, and more specifically the "Simple Will." There are many types of Wills, but this type is most commonly used for smaller estates.

South Carolina requires one to be over the age of 18 and "of sound mind" in order to make a Will.

Section 62-2-502 of the South Carolina Code of Law contains certain requirements that all Wills must have in order to be considered properly executed. They are the following:

(1) in writing;

(2) signed by the testator or signed in the testator's name by some other individual in the testator's presence and by the testator's direction; and

(3) signed by at least two individuals each of whom witnessed either the signing or the testator's acknowledgment of the signature or of the will.

The Simple Will is a way for you to make sure your wishes for your property are followed through after passing. This type of Will is useful for those with smaller estates in order to assist with easiest transfer of real and personal property. The Simple Will also allows for you to indicate guardianship of your children as well, in the event such guardianship is needed.

There are certain items exempted from the probate process, such as life insurance policies and real property held in a joint tenancy with rights of survivorship. Those would not be calculated into the estate's value during the probate process and would not be included in the Simple Will.

If you'd like to learn more about how a Simple Will can help you and your family in your estate planning, please contact my office today to discuss further. It is vital that you get a Will completed now to avoid issues in the future. If you already have a Will, we can update and revise it to reflect your current estate and also provide proper revocation of the previous Will in order to make sure there are no issues later.