For Challenging Times, Count on Estate Administration for Kiawah Island SC
Although death is a natural part of life, it can sometimes come unexpectantly. And whether or not you planned for a loved one’s passing ahead of time, it can still be challenging to get their affairs in order. Often, the best decision you can make is finding help for estate administration in Kiawah Island SC. And if estate management is something you require, you can count on the guidance of Buxton & Collie, LLC.
What’s Considered During Estate Administration
There’s an incredible amount of work and planning that goes into estate administration. And as the executor of the deceased’s estate, you have a responsibility to ensure final preparations are made and assets are correctly organized and divided. Thankfully, our estate planning attorneys can help you along the way.
- Discussing Wills and Trusts – Before any steps are made towards organizing an estate, we first set out to recognize the requests of a will or trusts, if either is available. While a will cannot be entirely carried out until an estate goes through probate court, it will give the framework for what assets are available, an idea of an estate’s value, and the chosen inheritors of the estate.
- Organizing Assets – Next, an estate’s assets must be accounted for and properly organized. Anything worth significant value will be considered as part of the deceased’s estate. For example, bank accounts, vehicles, property, valuable possessions, and more count towards one’s total estate. This organization of assets will give a more precise total of what an estate is worth.
- Settling Debts and Taxes – After compiling an estate’s assets, it comes time to settle any remaining affairs left after the death of your loved one. This means paying off debts and doing a final tax filing. Whatever is owed to probate courts, the IRS and creditors can be paid directly from the estate’s value. And what’s left after settling debts will go towards inheritors.
- Final Division of the Estate – Once all organization is complete, and debts have been paid, the remainder of the estate can be divided among living family. If there was a will initially, any named inheritors have the first right to an estate’s assets. As for trusts, money can be released to trustees as long as the requirements for doing so are met. Otherwise, with no wills or trusts, an attorney can help fairly divide an estate among relatives.
Be Ready for Anything
Estate administration for Kiawah Island SC, while necessary, is perhaps not as crucial as estate planning itself. Estate planning is a must for those who wish to have a say in how their estate is managed after their passing. Without wills or trusts, probate courts are left to make the major decisions for your estate. Thus, Buxton & Collie not only helps manage an estate but prepares wills, trusts and power of attorney ahead of time.
Give Us a Call
When taking the final steps in resolving affairs after your loved one’s passing, be sure you’re getting proper guidance for estate administration in Kiawah Island SC from Buxton & Collie, LLC. Call us today at 843-606-2397 to request a consultation. Also, our office is located at 940 Johnnie Dodds Blvd, Ste 100, Mt Pleasant, SC 29464.