South Carolina Trust Code

  1. Law
  2. South Carolina Code of Laws
  3. South Carolina Probate Code
  4. South Carolina Trust Code

Checkout our iOS App for a better way to browser and research.

Section
62-7-101

Short title.

Section
62-7-102

Scope.

Section
62-7-103

Definitions.

Section
62-7-104

Knowledge.

Section
62-7-105

Default and mandatory rules.

Section
62-7-106

Common law of trusts; principles of equity.

Section
62-7-107

Governing law.

Section
62-7-108

Principal place of administration.

Section
62-7-109

Methods and waiver of notice.

Section
62-7-110

Requirement of notice to others.

Section
62-7-111

Nonjudicial settlement agreements.

Section
62-7-112

Rules of construction.

Section
62-7-201

Role of court in administration of trust.

Section
62-7-202

Jurisdiction over trustee and beneficiary.

Section
62-7-203

RESERVED.

Section
62-7-204

Venue.

Section
62-7-301

When parties bound by others.

Section
62-7-302

Representation by holder of general testamentary power of appointment.

Section
62-7-303

Representation by fiduciaries and parents.

Section
62-7-304

Representation by person having substantially identical interest.

Section
62-7-305

Appointment of representative.

Section
62-7-401

Methods of creating trust.

Section
62-7-402

Requirements for creation; merger of title.

Section
62-7-403

Trusts created in other jurisdictions.

Section
62-7-404

Trust purposes.

Section
62-7-405

Charitable purposes; enforcement.

Section
62-7-406

Creation of trust induced by fraud, duress, or undue influence.

Section
62-7-407

Evidence of oral trust.

Section
62-7-408

Trust for care of animal.

Section
62-7-409

Noncharitable trust without ascertainable beneficiary.

Section
62-7-410

Modification or termination of trust; proceedings for approval or disapproval.

Section
62-7-411

Modification or termination of noncharitable irrevocable trust by consent with court approval.

Section
62-7-412

Modification or termination because of unanticipated circumstances or inability to administer trust effectively.

Section
62-7-413

Equitable deviation.

Section
62-7-414

Modification or termination of uneconomic trust.

Section
62-7-415

Reformation to correct mistakes.

Section
62-7-416

Modification to achieve settlor's tax objectives.

Section
62-7-417

Combination and division of trusts.

Section
62-7-418

Estate and possession of trust estates shall be in beneficiaries thereof.

Section
62-7-501

Rights of beneficiary's creditor or assignee.

Section
62-7-502

Spendthrift provision.

Section
62-7-503

Exceptions to spendthrift provision.

Section
62-7-504

Discretionary trusts; effect of standard.

Section
62-7-505

Creditors' claims against settlor.

Section
62-7-506

Overdue distribution.

Section
62-7-507

Personal obligations of trustee.

Section
62-7-601

Capacity of settlor of revocable trust.

Section
62-7-602

Revocation or amendment of revocable trust.

Section
62-7-602A

Powers of agent acting pursuant to power of attorney.

Section
62-7-603

Settlor's powers.

Section
62-7-604

Limitation on action contesting validity of revocable trust; distribution of trust property.

Section
62-7-605

Effect of penalty clause for contest.

Section
62-7-606

Anti-lapse provision in trust.

Section
62-7-607

Divorce or annulment as revoking revocable trust.

Section
62-7-701

Accepting or declining trusteeship.

Section
62-7-702

Trustee's bond.

Section
62-7-703

Cotrustees.

Section
62-7-704

Vacancy in trusteeship; appointment of successor.

Section
62-7-705

Resignation of trustee.

Section
62-7-706

Removal of trustee.

Section
62-7-707

Delivery of property by former trustee.

Section
62-7-708

Compensation of trustee.

Section
62-7-709

Reimbursement of expenses.

Section
62-7-801

Duty to administer trust.

Section
62-7-802

Duty of loyalty.

Section
62-7-803

Impartiality.

Section
62-7-804

Prudent administration.

Section
62-7-805

Costs of administration.

Section
62-7-806

Trustee's skills.

Section
62-7-807

Delegation by trustee.

Section
62-7-808

Powers to direct.

Section
62-7-809

Control and protection of trust property.

Section
62-7-810

Recordkeeping and identification of trust property.

Section
62-7-811

Enforcement and defense of claims.

Section
62-7-812

Exercise of powers by successor trustees; liability.

Section
62-7-813

Duty to inform and report.

Section
62-7-814

Discretionary powers; tax savings.

Section
62-7-815

General powers of trustee.

Section
62-7-816

Specific powers of trustee.

Section
62-7-816A

Authority to appoint the property of original trust to second trust.

Section
62-7-817

Distribution upon termination.

Section
62-7-818

Powers and discretions of a trust protector.

Section
62-7-819

Powers of a trust investment advisor.

Section
62-7-901

Short title.

Section
62-7-902

Definitions.

Section
62-7-903

Allocation of receipts and disbursements.

Section
62-7-904

Adjustments between principal and income.

Section
62-7-904A

Judicial Control of Discretionary Power.

Section
62-7-904B

Definitions for Sections 62-7-904C through 62-7-904P.

Section
62-7-904C

Trustee's power to convert an income trust to a total return unitrust, reconvert a total return unitrust to an income trust, or change the percentage used to calculate the unitrust amount.

Section
62-7-904D

Petition by trustee or qualified beneficiary to convert an income trust, reconvert a total return unitrust, or change the percentage used to calculate the unitrust amount.

Section
62-7-904E

Fair market value of trust assets.

Section
62-7-904F

Administration of a total return unitrust.

Section
62-7-904G

Distribution of unitrust amount considered distribution of income and not of principal.

Section
62-7-904H

Limitation of liability.

Section
62-7-904I

Applicability of Sections 62-7-904B through 62-7-904P.

Section
62-7-904J

RESERVED.

Section
62-7-904K

RESERVED.

Section
62-7-904L

RESERVED.

Section
62-7-904M

Unitrust amount to be distributed by the express total return unitrust.

Section
62-7-904N

Distribution from an express total return unitrust.

Section
62-7-904O

Express total return unitrust governing instrument provision for changing the unitrust percentage, for converting from a unitrust to an income trust, or for a reconversion of an income trust to a unitrust.

Section
62-7-904P

Trustee considerations for unitrust amount paid.

Section
62-7-905

Determinations of income and principal; distributions upon death of decedent or end of an income interest in a trust.

Section
62-7-906

Determination and distribution of net income.

Section
62-7-907

Beginning and end of income interests.

Section
62-7-908

Allocation of income receipts and disbursements.

Section
62-7-909

Undistributed income.

Section
62-7-910

Allocation of receipts from an entity to principal or income.

Section
62-7-911

Allocations of income and principal received from a trust or an estate.

Section
62-7-912

Separate accounting for a business activity.

Section
62-7-913

Allocations to principal.

Section
62-7-914

Accounting for receipts from rental property.

Section
62-7-915

Allocation of interest as income; allocation of proceeds from disposition of an obligation as principal; exceptions.

Section
62-7-916

Allocation of proceeds of insurance contracts; exception.

Section
62-7-917

Insubstantial allocations.

Section
62-7-918

Allocation of payments; interest, dividends, or payments made instead of interest or dividends; allocation of payments made from separate fund; exception.

Section
62-7-919

Liquidating assets.

Section
62-7-920

Allocation of receipts from interests in minerals or other natural resources.

Section
62-7-921

Allocation of receipts from sale of timber and related products.

Section
62-7-922

Marital deduction adjustments.

Section
62-7-923

Allocation of derivatives; options.

Section
62-7-924

Allocation of payments related to asset-backed securities.

Section
62-7-925

Disbursements from income.

Section
62-7-926

Disbursements from principal.

Section
62-7-927

Transfer to principal of cash receipts from asset subject to depreciation.

Section
62-7-928

Future principal disbursements reserves.

Section
62-7-929

Payment of taxes from income and principal.

Section
62-7-930

Certain adjustments between principal and income; reduction of marital deduction or charitable contribution deduction.

Section
62-7-931

Application and construction of Uniform Principal and Income Act.

Section
62-7-932

RESERVED.

Section
62-7-933

Uniform Prudent Investor Act.

Section
62-7-1001

Remedies for breach of trust.

Section
62-7-1002

Damages for breach of trust.

Section
62-7-1003

Damages in absence of breach.

Section
62-7-1004

Attorney's fees and costs.

Section
62-7-1005

Limitation of action against trustee.

Section
62-7-1005A

Trust protector.

Section
62-7-1005B

Trust investment advisor.

Section
62-7-1006

Reliance on trust instrument.

Section
62-7-1007

Event affecting administration or distribution.

Section
62-7-1008

Exculpation of trustee.

Section
62-7-1009

Beneficiary's consent, release, or ratification.

Section
62-7-1010

Limitation on personal liability of trustee.

Section
62-7-1011

Interest as general partner.

Section
62-7-1012

Protection of person dealing with trustee.

Section
62-7-1013

Certification of trust.

Section
62-7-1101

Uniformity of application and construction.

Section
62-7-1102

Electronic records and signatures.

Section
62-7-1103

Severability Clause.

Section
62-7-1106

Application to existing relationships.