South Carolina Complex Will - Income Trust for Spouse
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How to fill out Complex Will - Income Trust For Spouse?
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FAQ
While many people assume surviving spouses automatically inherit everything, this is not the case in California. If your deceased spouse dies with a will, their share of community property and their separate property will be distributed ing to the terms of that will, with some exceptions.
The intestate share of the surviving spouse is: (1) if there is no surviving issue of the decedent, the entire intestate estate; (2) if there are surviving issue, one-half of the intestate estate.
Your assets, by law, will pass to your family even if you don't have a Will. However, writing a Will usually makes the probate process easier and less expensive for your family. Will or no Will, most estates will need to be administered through the South Carolina Probate Court.
The distribution depends on whether you are married and how many surviving family members you have. If you have a spouse and no children, your spouse will inherit your entire estate. If you have a spouse and children, your spouse gets half and the remaining estate is split equally amongst the children.
The trust must keep part of its income rather than giving it all together to the beneficiaries. The beneficiaries must receive part or all of the trust's principal. A portion of the trust's assets must be distributed to charity organizations.
In South Carolina, if you are married and you die without a will, what your spouse gets depends on whether or not you have living descendants -- children, grandchildren, or great grandchildren. If you don't, then your spouse inherits everything. If you do, then your spouse inherits 1/2 of your intestate property.
Often, due to unhappy circumstances, someone will want to completely disinherit their spouse. 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.