South Carolina Estate Administration Attorney
Fiduciary Services
In some situations, such as when the surviving spouse is frail or when the executor lives out of state and has a heavy schedule, our office is happy to provide fiduciary services, serving as Conservator or Guardian of an incapacitated adult, or as Personal Representative of an estate. We take these assignments only when we believe that they are in the client’s best interest for economic or emotional reasons. When our firm would be an economically infeasible choice, we would refer a client who needed fiduciary services to other persons or entities.
In situations where it is appropriate for our office to serve as fiduciary, most commonly that is in the
Personal Representative role. In most cases, assuming family cooperation, our services as fiduciary or as a Personal Representative are less (and sometimes significantly less!) than the statutory rate that SC law gives the Personal Representative.
When our office takes this role, we relieve the named Personal Representative of the following duties:
- to receive the decedent’s mail
- to close all the deceased’s accounts and to open a new estate account
- to apply for a tax ID number for the estate
- to pay all the estate’s bills
- to arrange sale of real or personal property belonging to the estate
- to liquidate investments belonging to the estate
- to account to the court for estate assets
- to arrange for tax returns to be prepared and filed
- to close out the estate
- to send all appropriate recipients K-1s from the accounting firm
Valuing and managing the estate
Whether we are advising Personal Representatives or serving as a fiduciary, we assist with the arduous process of collecting, managing, valuing, protecting, and liquidating the assets of the estate. We have long standing relationships with outside experts available to assist in every aspect of estate administration. When appropriate, the firm calls upon accountants, financial advisers, real estate agents, property managers and other professionals to assist with fiduciary duties of the Personal Representative. We can access expert opinions about unique assets such as antiques, rare books, automobiles and other collectables for accurate valuation, management and possible sale.
Meticulous administrative services
Theresa A. Horton, P.A. in Greenville has extensive experience in all duties expected of a trust or Will administrator, including:
- Investment of assets
- Management of assets
- Preparation of accountings
- Preparation of tax returns
- Distributions to beneficiaries
Contact a lawyer you can trust to serve as a fiduciary.
Theresa A Horton, P.A. serves clients in Greenville and throughout South Carolina. Call us at 864-242-4221.