South Dakota Probate Laws, Important Timelines and Ways To Get Money Early
It’s important to understand the probate process in South Dakota. There are important steps and timelines in the South Dakota probate process that you need to be aware of so that you understand how long it will take to receive your money if you are an heir.
In this article, we will go through everything you need to know about South Dakota Probate laws starting with the average time probate takes.
Jump To Section
How long does probate take in South Dakota?
In non-pandemic times, the probate assets (personal property) within an estate in South Dakota can take anywhere from 9 months to 3 years to be distributed from the decedents estate. There are different variables including the following:
- Size of the estate which dictates how long an inventory of assets will take
- The amount of beneficiaries in the estate
- How fast the executor of the estate can push the process along
- If the will is contested
- Probate Court Timelines
Court proceedings have been slowed down due to a pandemic, which has caused problems in some estates that are already under way or about to begin; however, recent articles highlight the negative impact this delay may cause specifically with regard to asset distribution among heirs after an individual’s death.
Here are some helpful resources to utilize when you enter into the probate process in South Dakota due to a loved one’s death and it can help you answer more questions about probate:
Most estates in South Dakota must pass through the probate process, there are a few exceptions. For those who meet certain criteria, simplified proceedings known as small estate proceedings may be available.
No, all estates do not have to go through probate in South Dakota. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts or other valuable property together in South Dakota each co-owner must own an equal share. If joint tenancy of assets are in place, then they do not have to pass through the probate process in South Dakota.
The largest cost in probate is always the Attorneys’ fees. In Do all estates have to go through probate in South Dakota, like most states, Attorney’s fees are based on the number of hours billed and the lawyer’s hourly rate. The cost for simple estates can range from $2,000 to $5,000 while more complicated cases may reach up to ten times that amount.
- Revocable living trusts.
- Make sure any real property is owned with tenants by entirety or has a beneficiary. This is referred to as joint tenancy ownership, otherwise known as “tenants by entirety”
- “Payable on death” designations.
- Life insurance.
- Retirement accounts that have a designated beneficiary.
- Having an estate of less than an amount which is designated by the state to be considered a “small estate.”
- Create a revocable living trust
Estate And Inheritance Tax Laws
South Dakota does not have any inheritance or estate tax. Many states to have either an estate tax or an inheritance tax but South Dakota is not one of them.
Here are the states that do have taxes:
Don't Wait for Probate
Probate Code And South Dakota Law Resources:
Get An Inheritance Cash Advance Now
An inheritance cash advance is your best option when you need an influx of cash following the death of a loved one. The cash can be used for anything you deem necessary.
The advantages of an inheritance cash advance in South Dakota include:
Fill Out The Form Below And Receive Funds Within 24 Hours!
Probate Loan vs Probate Advance In South Dakota
If you are stuck in the process of probate in South Dakota you might have thought about borrowing against your estate or getting a mortgage on a property in probate. This is commonly referred to as an estate loan, traditional bank loan or probate loan. It’s important to understand the difference between probate loans in South Dakota and an advance on your inheritance money. Inheritance advances are a much simpler process when compared to a probate loan because you don’t have the traditional requirements of a bank loan with credit checks and repayment terms on assets.
When you apply for a probate loan, you need to go through the traditional loan application process. It can be time consuming and difficult because of credit requirements and a lengthy application to be completed either online or with a representative at the bank. Thus, like probate, there can be no end in sight for many heirs.
Contact Inheritance Advanced to Receive Your Inheritance Money In South Dakota Now
If you are entering into the probate process in South Dakota and you need cash immediately, inheritance advanced is here for you. Inheritance Advanced has worked with more than 1,700 satisfied clients across the country, including [state]. We have helped them obtain money to pay for the funeral, burial, medical bills, credit card debt, and everyday expenses instead of waiting for the probate process to complete.
Our experienced team is compassionate, caring, and understanding. We know how difficult it is to wait for probate, that is why we give you your funds now and wait for probate ourselves, so you don’t have to.