What's Happening?
The Fraser Law Firm, LLC has highlighted recent changes to South Carolina's probate code, which have expanded eligibility for simplified estate processes. Effective May 8, 2025, Act No. 26 (H.3472) raised small-estate and exempt-property limits to $45,000.
These changes allow for more efficient handling of estates, including collection by affidavit for certain small estates. The updates are particularly relevant in active real estate markets like Bluffton and Hilton Head, where property transfers often prompt estate document reviews. The Fraser Law Firm is advising clients to align their estate planning documents with these revised thresholds.
Why It's Important?
The changes to South Carolina's probate code are significant for residents, particularly in regions with active real estate markets. By raising the limits for small estates and exempt properties, the law simplifies the probate process, reducing court oversight and potentially lowering costs for families. This can lead to quicker settlements and asset distributions, benefiting surviving spouses and minor children. For estate planning professionals, these updates necessitate a review of existing plans to ensure compliance and optimization under the new rules. The changes also underscore the importance of legal guidance in navigating estate planning complexities.
