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Under Hindu law, a wife gets an equal share of the assets of the deceased husband divided between other Class I heirs, the children and mother. This applies only if the man dies intestate. If there are no children and other claimants, the wife is entitled to the total property.
While you can disinherit your children, in South Carolina you cannot completely disinherit your spouse. This is to protect the surviving spouse from being left destitute and a burden on the state.
There is no need for probate or letters of administration unless there are other assets that are not jointly owned. The property might have a mortgage. However, if the partners are tenants in common, the surviving partner does not automatically inherit the other persons share.
Heres a good rule of thumb: If you have a net worth of at least $100,000 and have a substantial amount of assets in real estate, or have very specific instructions on how and when you want your estate to be distributed among your heirs after you die, then a trust could be for you.
With that said, revocable trusts, irrevocable trusts, and asset protection trusts are among some of the most common types to consider.
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The term next of kin is often used synonymously with heirs at law in South Carolina. When a South Carolina resident dies without a will, their next of kin heirs at law are those in line to inherit their intestate estate, and are generally the decedents: Surviving spouse. Children.
If you live in South Carolina and die without a valid will and have only a surviving spouse (but no children), your spouse gets everything. If you have children and you die intestate in South Carolina, your spouse inherits half of your estate while your children get the other half evenly.
To fund a revocable trust consider changing ownership and titling of accounts such as bank, brokerage, stocks, bonds, and real estate; assigning rights in certain assets such as tangible personal property, notes receivable, partnership and LLC interests; and updating beneficiaries for life insurance.
Will: a legal document that directs who will receive your assets and property at the time of your death. Trust: a legal arrangement where a trustee (someone you select) manages and holds title to your assets and property and distributes income to the beneficiaries that you select.
Your husband or wife takes one-half of your property if you leave a spouse and children. If you leave a spouse and no children, your spouse takes all. If you leave no spouse, but children, then your children take your property.

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