If you’re a homeowner in South Carolina, especially in places like Charleston, Mount Pleasant, or Columbia, you’ve likely heard about using a trust as part of your estate plan. While not everyone needs a trust, for many property owners, it can be a powerful tool to protect assets, simplify inheritance, and avoid probate.
So how do you know if a trust is right for you? Below, we break down what a trust is, how it compares to a will, and the most common reasons South Carolina homeowners choose to include a trust in their estate plan.
What Is a Trust, and How Does It Work?
A trust is a legal arrangement where you (the grantor) transfer ownership of your property to a trustee, who holds and manages it on behalf of one or more beneficiaries. There are many types of trusts, but the most common for homeowners is a revocable living trust.
With a revocable living trust, you retain control over the assets during your lifetime. Upon your death, the assets are distributed according to your instructions—without going through probate.
Why a Will Alone May Not Be Enough in South Carolina
A last will and testament is essential, but it comes with one big drawback: probate. In South Carolina, probate is the court-supervised process of validating your will and distributing your assets. While not as costly as in some other states, probate in SC can still cause delays, legal fees, and frustration for your loved ones.
By contrast, a properly funded trust allows your home and other assets to pass to your beneficiaries directly—privately and efficiently—outside of probate.
Top Reasons Homeowners in South Carolina Use Trusts
1. To Avoid Probate
Probate can take months, even for relatively simple estates. A trust avoids this entirely, saving your family time and stress after you’re gone.
2. To Keep Things Private
Wills become public records during probate. Trusts do not. If you want to keep your finances and beneficiaries private, a trust is a better option.
3. To Plan for Incapacity
If you become mentally or physically unable to manage your affairs, a trustee can step in to handle your property without needing court approval. This can be a major advantage for older homeowners or those planning for long-term care.
4. To Protect Multi-Property or Out-of-State Ownership
If you own property in multiple states (for example, a home in Charleston and a vacation condo in North Carolina), a trust can help you avoid multiple probate proceedings—one in each state.
5. To Control How and When Assets Are Inherited
With a trust, you can specify when and how your beneficiaries receive your assets. For example, you can delay inheritance until a child reaches a certain age, or distribute money over time instead of in one lump sum.
Who May Not Need a Trust?
If your estate is small, your only major asset is your home, and you’re not concerned about probate, a will may be sufficient. But even in these cases, many South Carolinians still benefit from a simple revocable trust paired with a durable power of attorney and a will.
Should You Set Up a Trust on Your Own?
While there are DIY trust kits online, South Carolina estate law is complex—and mistakes can cause major issues down the road. For example, many people fail to “fund” the trust by retitling their property, which renders the trust ineffective. A local estate planning attorney ensures your trust is correctly drafted, legally sound, and properly connected to your assets.
Need Help Deciding If a Trust Is Right for You? Let Mulet Law Guide You.
At Mulet Law, we help South Carolina homeowners protect their property, avoid probate, and create peace of mind through customized estate plans. Whether you’re new to estate planning or updating an outdated will, we’ll explain your options clearly and help you make the best choice for your goals.
📞 Contact Mulet Law today to schedule a consultation and find out whether a trust is right for your South Carolina estate plan.