DUTIES and RESPONSIBILITIES of PERSONAL REPRESENTATIVES and/or TRUSTEES and
ESTATE and TRUST ADMINISTRATION CHECKLIST
(All United States Citizens)
This checklist is primarily for South Carolina informal probate and appointment and/or for those decedents utilizing Revocable Living Trust Agreements and living in Beaufort County, South Carolina.
ESTATE OF: __________________________________________________
TRUST OF: __________________________________________________
DATE OF DEATH
OF DECEDENT: __________________________________________________
SOCIAL SECURITY NUMBER
OF DECEDENT __________________________________________________
TAX ID NUMBER (EIN) OBTAINED BY CPA:
FOR ESTATE: __________________________________________________
FOR TRUST: __________________________________________________
TAX YEAR OF ESTATE: __________________________________________________
TAX YEAR OF TRUST: __________________________________________________
PROBATE COURT
CASE NUMBER: FILE NUMBER TO BE ASSIGNED BY
PROBATE JUDGE: Honorable Kenneth E. Fulp, Jr.
PROBATE COURT
ADDRESS: Beaufort County Probate Court
Multi-Government Center
102 Ribaut Road
Beaufort, SC 29902
PROBATE COURT PHONE
NUMBER: (843) 255-5850
I. GENERAL INFORMATION
Address of Decedent:
______________________________________________________________________________ ______________________________________________________________________________
______________________________________________________________________________
Decedent’s Business or Occupation: ____________________________________
Legal Resident:_______________________ Since: _________________
Place of Death:___________________________ Age at Death: ___________
Date of Death: ___________________________ Date of Birth: __________
Marital Status:
Single _____ Married _____ Widowed _____ Divorced _____
Surviving Spouse’s Name: _____________________ SSN:____________
Divorced Spouse’s Name:_______________________ SSN:____________
Date and state in which divorced, if applicable: _________________
Need copy of divorce decree, if any _________________
Date decedent’s spouse died, if applicable: _________________
Name, Address, Telephone Number and Tax Identification Number of Personal
Representative and/or Trustee:
______________________________________________________________________________ ______________________________________________________________________________
______________________________________________________________________________
Name, Address, Telephone Number and Tax Identification Number of spouse:
______________________________________________________________________________ ______________________________________________________________________________
______________________________________________________________________________
Decedent’s Accountant’s Name, Address, Telephone Number: ______________________________________________________________________________
Decedent’s Stock Broker’s/Account Executive’s Name, Address, Telephone Number:
______________________________________________________________________________
Decedent’s Insurance Advisor’s Name, Address, Telephone Number: ______________________________________________________________________________
Decedent’s Real Estate or other Attorneys’ Name, Address, Telephone Number:
______________________________________________________________________________
Devisees Under Will:
Name, Address, Telephone SS# Date of Birth Relationship
_______________________ _____________ _____________ __________________
_______________________
_______________________
_______________________ _____________ _____________ __________________
_______________________
_______________________
_______________________ _____________ _____________ __________________
_______________________
_______________________
_______________________ _____________ _____________ __________________
_______________________
_______________________
Note: Add additional devisees on a separate page, if needed.
Beneficiaries of Trust:
Name, Address, Telephone SS# Date of Birth Relationship
_______________________ _____________ _____________ __________________
_______________________
_______________________
_______________________ _____________ _____________ __________________
_______________________
_______________________
_______________________ _____________ _____________ __________________
_______________________
_______________________
_______________________ _____________ _____________ __________________
_______________________
_______________________
Note: Add additional devisees on a separate page, if needed.
Are any of the Devisees or Beneficiaries either a minor or an incapacitated person? __________
If so, please list name(s) and whether a minor and/or incapacitated.
_______________________
_______________________
_______________________
II. Important Dates
1. Date of Will and/or Codicil(s). __________
2. Date of Trust(s) and any Amendment(s) __________
3. Date of Qualification, if Personal Representative is appointed. __________
4. Date of First Notice to Creditors, if Personal Representative is appointed. __________
5. Date of Period for Filing Claims Expires (Eight months after date of first notice __________
to creditors (62-3-801), if Personal Representative is appointed.
6. Date Inventory and Appraisement Due - Ninety (90) days
after appointment (62-3-706), if Personal Representative is appointed __________
7. Date Information to Heirs and Devisees Due -Thirty (30) days
from appointment of Personal Representative. (62-3-705),
if Personal Representative is appointed __________
8. Date of Notice of Hearing, if Applicable -Twenty (20) days prior
to hearing (62-1401), if Personal Representative is appointed or
if Will filed for “probate only” is challenged. __________
9. Date Probate Accounting Due: If a Personal Representative is appointed
then the Accounting is due one year after the date of first publication of notice
to creditors; unless an estate tax return is due, in which case, the accounting
is due 90 days after the receipt of the estate tax closing letter. (62-3-1001). __________
10. Date U.S. Estate Tax Returns due-- US________
Nine (9) months from date of death (Personal Representative and/or
Trustee, Attorney and Accountant should each set up tickler).
11. Date Decedent's Final 1040 Return Due (Personal Representative
and/or Trustee and Accountant should set up tickler)- April 15th of year
following year of death, unless it falls on a Saturday, Sunday or a holiday. 4/15/_____
12. Due date for previous year’s return for decedent, if not yet filed.
Personal Representative and/or Trustee, Attorney and Accountant should
set up tickler. __________
13. Date Fist U.S. and SC 1041 Fiduciary Returns Due (Personal Representative
and/or Trustee and Accountant should set up tickler) - 15th day of
fourth month following close of the tax year. For Estate __________
For Trust __________
Note: a Trust can be treated as an Estate for a period of time for
income tax purposes. CPA
14. Who will prepare the 1040? CPA
15. Who will prepare the 1041s for the estate? CPA
16. Who will prepare the final 1041s for the trust? CPA
17. Consider and use Alternate Valuation Date, if Applicable
(Six (6) months after date of death) for Estate Tax Returns (taxable estates only). __________
18. If estate is taxable and has no significant tax issues, wait for alternate
valuation date information and then try to file U.S. Estate Tax Returns
seven (7) months after decedent’s date of death. __________
19. If estate is non-taxable, has no tax issues, and there is a surviving spouse
is portability needed? __________
III. Pre-Probate
1. The actual legal fees for the Law Office of Michael J. Howell depend upon the actual time expended. We charge $320.00 per hour for Michael J. Howell’s time, $270 per hour for Margaret H. Up De Graff’s time, $250 for any other attorney’s time, and $140.00 per hour for non-attorney staff time. In addition, there is a charge of three tenths of 1% (.003) of the gross value of the Estate and Trust assets for Federal Estate Tax purposes, which equates to $300 per each $100,000 of assets for professional fiduciaries such as attorneys, CPA’s, financial advisors, banks and trust companies. There are no additional charges for regular postage or photocopies. There are also charges for out of pocket costs, fees, and expenses charged by others such as couriers, courts, appraisers, and valuation services.
Although it is hard to estimate, normally our hourly fees range from less than 1 % of the gross value of the assets for Federal Estate Tax purposes up to 3% unless there are problems or issues in administering the Estate or Trust or we do extraordinary work or we have to do work normally done by the Personal Representative or Trustee or their advisors. Normally, the larger the Estate and/or Trust, the lower the actual cost is as a percentage of the gross value of the Estate and/or Trust for federal estate tax value and vice versa. With small Estates and/or Trusts the percentage estimates can be much higher. We will bill for services about once a month but in some cases we can run behind. For amounts unpaid for thirty (30) days after a bill is rendered, we charge interest of 1 ½% per month. All rates are subject to change, but advance notice will be given. __________
2. Discuss the 3 to 4 stages of administration and quantity of work performed. __________
Opening __________
Administration __________
Closing __________
Estate Tax Return __________
3. Need Newspaper Obituary for File. __________
4. Locate and examine the Will, any Trust Agreements, Memorandums and/or
Instructions on File. __________
5. Prepare and have signed Probate Court Affidavit concerning
Tangible Personal Property Memorandum __________
6. Hold Initial Conference with Personal Representative. Discuss
cash needs, have extra copies of Will and Trust for distribution. __________
7. Review applicability of estate tax apportionment statutes (review Will
for provisions) 62-3-916. __________
8. Obtain copies of any divorce decree. __________
IV. Probate
1. Consider need for fiduciary bond (Forms 340PC and 341PC) (62-3-603),
if a Personal Representative is appointed. __________
2. Send to the Probate Court the following:
--Transmittal letter
--Application/Petition for Probate and/or Appointment
depending upon whether there is going to be a Personal
Representative. (62-3-301)
--Original Will and any Codicils (62-3-301)
--Death Certificate
--Check for court costs (see fee schedule 8-21-770)
--Normally the initial check is $25.00 for probate only
and $70.00 for probate and appointment. __________
3. File Notices (110PC) and Proof of
Delivery (Form 120PC) if any Demands for
Notice (form 120PC) are on file. __________
4. Obtain Waivers of Notice - 62-3-204 and 62-3-310, if deemed necessary. __________
5. Obtain Fiduciary Letters (Form 140PC) and Certificates of Appointment
(Form 141PC), if a Personal Representative is appointed. __________
6. Explain Waivers and how they can save significant cost. __________
7. Obtain Court copy of will filed even if no appointment of a Personal
Representative. __________
8. Obtain at least three (3) Certificates of Appointment, if a Personal Representative
is appointed (62-3-307). More may be needed later. __________
9. Obtain at least twelve (12) to eighteen (18) certified copies of the death certificates
More may be needed later. __________
10. File Information to Heirs and Devisees (Form 305PC) and Proof of Delivery
(Form 120PC). __________
11. File Notice to Creditors (Form 370PC) or request Probate Court to send
Affidavit of Publication, if a Personal Representative is appointed. Local
customs may vary. In Beaufort County, the court takes care of the
publication of notice to creditors. __________
12. Ancillary administration needs to be instituted where real or
tangible personal property is located in other states and will need to hire an
attorney in the other state(s). __________
13. File Deed of Distribution and any other required probate papers in other
South Carolina counties where probate property is located, including real estate and
tangible personal property. __________
14. Follow Uniform Principal & Income Act unless Will and/or Trust contains
different provisions. __________
15. Project cash requirements and liquidate sufficient assets to meet needs for debts,
taxes, expenses and cash devises. __________
16. Consider an early termination of the estate if the Personal Representative
is also the sole devisee. __________
17. Consider small estate procedures if all probate assets are under $25,000
and there is no real estate. __________
