![]() ![]() ![]() Once the principal has organized their lists of assets and beneficiaries, they will need to choose the method that they will use to administer their estate. To do any lawful act with respect to the subject and all property related to the subject.To access communications intended for, and communicate on behalf of the principal, whether by mail, electronic transmission, telephone, or other means, access the principal’s files electronically, and obtain the principal’s usernames and passwords.To communicate with a representative or employee of a government or governmental subdivision, agency, or instrumentality, on behalf of the principal.To prepare, execute, and file a record, report, or other document to safeguard or promote the principal’s interest under a statute or regulation.To engage, compensate, and discharge an attorney, accountant, discretionary investment manager, expert witness, or other advisor, even though they are associated with the agent to advise or assist the agent in the performance of the agent’s administrative duties and to act upon their recommendation without independent investigation and, instead of acting personally, to employ one or more agents to perform an act of administration, whether or not discretionary.To seek on the principal’s behalf the assistance of a court or other governmental agency to carry out an act authorized in the power of attorney.To initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to a claim existing in favor of or against the principal or intervene in litigation relating to the claim.To execute, acknowledge, seal, deliver, file, or record an instrument or communication the agent considers desirable to accomplish a purpose of a transaction, including creating at any time a schedule listing some or all of the principal’s property and attaching it to the power of attorney.To contract in any manner with any person, on terms agreeable to the agent, to accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate, release, or modify the contract or another contract made by or on behalf of the principal.To demand, receive, and obtain by litigation or otherwise, money or another thing of value to which the principal is, may become, or claims to be entitled, and conserve, invest, disburse, or use anything so received or obtained for the purposes intended. ![]() Signing Requirements ( § 62-8-105) – Must be signed by the principal (or their attorney-in-fact), two (2) witnesses, and a notary public, who will sign a notary acknowledgment.Furthermore, the principal must indicate whether the agent will be given power of attorney only in the event of the principal’s capacity or if they will be given such powers starting the date that the document is signed. On this form, the principal will indicate which powers they wish to grant to their agent. In accordance with § 62-8-104, in South Carolina, all powers of attorney are considered durable unless otherwise stated in the Power of Attorney document.ĭurable Power of Attorney – This document may be used by the principal to appoint a financial agent. ![]() It is recommended that everyone consult with a professional attorney before signing these important legal documents.Ī financial agent is given the “durable” power of attorney to represent the principal in making financial decisions and executing legal documents. A durable power of attorney is one in which the representative is given the authority to act on behalf of the principal even if the principal becomes incapacitated. There are several options available to individuals when preparing for the future, and these instructions only provide a brief introduction. South Carolina residents can get started with their estate planning by following the below guide. How to Create an Estate Plan in South Carolina (6 steps) To plan the administration of their estate, the Last Will and Testament or the Revocable Living Trust documents may be employed. For an individual to prepare for their mental or physical incapacity, they can use the Health Care Power of Attorney and Durable Power of Attorney forms. A South Carolina estate planning checklist is a guide for individuals who wish to plan for end-of-life medical treatment and the distribution of their estate when they die. ![]()
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