Essential Documents You Need to Prepare for Estate Planning in South Carolina

Estate planning is a critical step in ensuring that your wishes are honored and your loved ones are taken care of after you pass away. Having the right documents ready before you meet with an attorney can make the process smoother and more efficient. Here’s a guide to the essential documents you need to prepare for estate planning in South Carolina.

1. Personal Identification

Bring copies of your personal identification documents to verify your identity:

• Driver’s License or State ID
• Social Security Card
• Birth Certificate

2. Family Information

Gather detailed information about your family members, including:

• Full Legal Names
• Dates of Birth
• Addresses
• Marital Status
• Social Security Numbers (optional but useful)

3. Financial Inventory

Compile a comprehensive list of your financial assets and liabilities:

• Bank Accounts: Include account numbers and the names of financial institutions.
• Investment Accounts: Stocks, bonds, mutual funds, and retirement accounts with details like account numbers and current balances.
• Real Estate Holdings: Property deeds, mortgage information, and valuations.
• Insurance Policies: Life, health, disability, and long-term care insurance with policy numbers and beneficiaries.
• Debts and Liabilities: Credit card statements, loans, and any outstanding obligations.

4. Business Information

If you own a business, provide details about its structure and assets:

• Business Formation Documents: Articles of incorporation, partnership agreements, or LLC formation documents.
• Business Valuation: Current valuation or appraisal.
• Ownership Interests: Documentation of your ownership percentage and any agreements related to business succession.

5. Estate Planning Documents

If you have previously created any estate planning documents, bring copies of:

• Previous Wills or Trusts: To ensure continuity and avoid conflicts.
• Powers of Attorney: For financial and healthcare decisions.
• Living Wills: Outlining your end-of-life care preferences.

6. Beneficiary Designations

Ensure that you have updated beneficiary designations for accounts such as:

• Life Insurance Policies
• Retirement Accounts (IRA, 401(k))
• Payable-on-Death (POD) Accounts
• Transfer-on-Death (TOD) Accounts

7. Legal Documents

Include any other relevant legal documents that might impact your estate plan:

• Marriage Certificates: Proof of marriage for current and past marriages.
• Divorce Decrees: Information on spousal support, child custody, and property settlements.
• Adoption Papers: Documentation for any adopted children.
• Prenuptial or Postnuptial Agreements: Agreements outlining financial arrangements in your marriage.

8. Healthcare Information

Prepare a list of your healthcare providers and any medical conditions or preferences for medical treatment:

• Primary Care Physician and Specialists
• Medical History: Any significant medical conditions or treatments.
• Healthcare Preferences: Preferences for end-of-life care, organ donation, etc.

9. Digital Assets

List your digital assets and online accounts with login information:

• Email Accounts
• Social Media Accounts
• Online Banking and Investment Accounts
• Cryptocurrency Wallets
• Subscriptions and Memberships

10. Miscellaneous Information

Consider any other personal information that might be relevant:

• Safe Deposit Box: Location and access details.
• Passwords and PINs: For important accounts and devices.
• Personal Wishes: Funeral arrangements, charitable donations, and specific bequests.

Conclusion

Preparing these essential documents before meeting with your estate planning attorney can streamline the process and ensure that your estate plan is comprehensive and effective. Proper documentation helps to safeguard your assets and provide clarity for your loved ones.

For assistance with estate planning and ensuring all necessary documents are in order, contact Rivertown Law at 843-488-5600. Our experienced team is here to help you create a personalized estate plan that meets your needs and secures your legacy.