reglab/housing_qa huggingface dataset:
SC Code § 62-7-414 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-414. Modification or termination of uneconomic trust.

 (a) After notice to the qualified beneficiaries, and without court approval, the trustee of a trust consisting of trust property having a total value less than one hundred thousand dollars may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.  (b) The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.  (c) Upon termination of a trust under this section, the trustee shall distribute the trust property as ordered by the court or, if the court does not specify the manner of distribution, or if no court approval is required, in a manner consistent with the purposes of the trust.  (d) This section does not apply to an easement for conservation or preservation.  HISTORY: 2005 Act No. 66, Section 1; 2010 Act No. 244, Section 49, eff June 7, 2010; 2013 Act No. 100, Section 2, eff January 1, 2014.  Effect of Amendment  The 2010 amendment in subsection (a) added "and without court approval," following "After notice to the qualified beneficiaries,"; and in subsection (c) added "or if no court approval is required," following "the manner of distribution,".
SC Code § 62-7-415 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-415. Reformation to correct mistakes.

 The court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's intention if it is proved by clear and convincing evidence what the settlor's intention was and that the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-416 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-416. Modification to achieve settlor's tax objectives.

 To achieve the settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intention. The court may provide that the modification has retroactive effect.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-417 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-417. Combination and division of trusts.

 After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trust.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-418 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-418. Estate and possession of trust estates shall be in beneficiaries.

 (a) When any person shall be seized of any lands, tenements, rents, reversions, remainders, or other hereditaments to the use, confidence, or trust of any other person or of any body politic by reason of any bargain, sale, feoffment, covenant, contract, agreement, will, or otherwise, the person or body politic that shall have such use, confidence, or trust, in fee simple, fee tail, for term of life or for years or otherwise or any use, confidence, or trust in remainder or reversion, shall be deemed and adjudged in lawful seizing, estate and possession of and in such lands, tenements, rents, reversions, remainders, and hereditaments, with their appurtenances, to all intents, constructions, and purposes in law of and in such like estates as they shall have in use, trust, or confidence of or in them.  (b) When several persons shall be jointly seized of any lands, tenements, rents, reversions, remainders, or other hereditaments to the use, confidence, or trust of any of them that be so jointly seized, such person or persons who shall have any such use, confidence, or trust in any such lands, tenements, rents, reversions, remainders, or hereditaments shall have such estate, possession, and seizing of and in such lands, tenements, rents, reversions, remainders, and other hereditaments only to him or them that shall have any such use, confidence, or trust, in like nature, manner, form, condition, and course as he or they had before in the use, confidence, or trust of such lands, tenements, or hereditaments, saving and reserving to all and singular persons and bodies politic, their heirs and successors, other than such person or persons who are seized of such lands, tenements, or hereditaments to any use, confidence, or trust, all such right, title, entry, interest, possession, rents, and action as they or any of them had or might have had without this section and also saving to all and singular those persons and their heirs who are seized to any use all such former right, title, entry, interest, possession, rents, customs, services, and action as they or any of them might have had to his or their own proper use in or to any lands, tenements, rents, or hereditaments whereof they are seized to any other use, anything contained in this chapter to the contrary notwithstanding.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-501 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-501. Rights of beneficiary's creditor or assignee.

 (a) Except as provided in subsection (b), the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary or other means. The court may limit the award to such relief as is appropriate under the circumstances.  (b) This section shall not apply and a trustee shall have no liability to any creditor of a beneficiary for any distributions made to or for the benefit of the beneficiary to the extent a beneficiary's interest:  (1) is protected by a spendthrift provision, or  (2) is a discretionary trust interest as referred to in S.C. Code Section 62-7-504.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-502 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-502. Spendthrift provision.

 (a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.  (b) A term of a trust providing that the interest of a beneficiary is held subject to a "spendthrift trust", or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.  (c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this article, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-503 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-503. Exceptions to spendthrift provision.

 (a) In this section, "child" includes any person for whom an order or judgment for child support has been entered in this or another State.  (b) Even if a trust contains a spendthrift provision, a beneficiary's child who has a judgment or court order against the beneficiary for support or maintenance may obtain from a court an order attaching present or future distributions to or for the benefit of the beneficiary.  (c) The exception in subsection (b) is unenforceable against a special needs trust, supplemental needs trust, or similar trust established for a disabled person if the applicability of such a provision could invalidate such a trust's exemption from consideration as a countable resource for Medicaid or Supplemental Security Income (SSI) purposes or if the applicability of such a provision has the effect or potential effect of rendering such disabled person ineligible for any program of public benefit, including, but not limited to, Medicaid and SSI.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-504 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-504. Discretionary trusts; effect of standard.

 (a) In this section, "child" includes any person for whom an order or judgment for child support has been entered in this or another state.  (b) Except as otherwise provided in subsection (c), a creditor of a beneficiary may not compel a distribution from a trust in which the beneficiary has a discretionary trust interest, even if:  (1) the discretion is expressed in the form of a standard of distribution; or  (2) the trustee has abused the discretion.  (c) To the extent a trustee has not complied with a standard of distribution or has abused a discretion:  (1) a distribution may be ordered by the court to satisfy a judgment or court order against the beneficiary for support or maintenance of the beneficiary's child; and  (2) the court shall direct the trustee to pay to the child such amount as is equitable under the circumstances but not more than the amount the trustee would have been required to distribute to or for the benefit of the beneficiary had the trustee complied with the standard or not abused the discretion.  (d) This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for an abuse of discretion or failure to comply with a standard for distribution; provided, however, this right may not be exercised by a creditor of the beneficiary.  (e) Whether or not a trust contains a spendthrift provision, a creditor of a beneficiary may not compel a distribution from insurance proceeds payable to the trustee as beneficiary to the extent state law exempts such insurance proceeds from creditors' claims.  (f) A creditor of a beneficiary who is also a trustee or cotrustee may not reach the trustee's beneficial interest or otherwise compel a distribution if the trustee's discretion to make distributions for the trustee's own benefit is limited by an ascertainable standard.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-505 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-505. Creditors' claims against settlor.

 (a) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply:  (1) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors.  (2) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit. If a trust has more than one settlor, the amount the creditor or assignee of a particular settlor may reach may not exceed the settlor's interest in the portion of the trust attributable to that settlor's contribution.  (3) After the death of a settlor, and subject to the settlor's right to direct the source from which liabilities will be paid, and except to the extent state or federal law exempts any property of the trust from claims, costs, expenses, or allowances, the property held in a revocable trust at the time of the settlor's death is subject to claims of the settlor's creditors, costs of administration of the settlor's estate, the expenses of the settlor's funeral and disposal of remains, and statutory allowances to a surviving spouse and children to the extent the settlor's probate estate is inadequate to satisfy those claims, costs, expenses, and allowances, unless barred by Section 62-3-801 et seq.  (b) For purposes of this section:  (1) a beneficiary who is a trustee of a trust, but who is not the settlor of the trust, cannot be treated in the same manner as the settlor of a revocable trust if the beneficiary-trustee's power to make distributions to the beneficiary-trustee is limited by an ascertainable standard related to the beneficiary-trustee's health, education, maintenance, and support;  (2) the assets in a trust that are attributable to a contribution to an inter vivos marital deduction trust described in either Section 2523(e) or (f) of the Internal Revenue Code of 1986, after the death of the spouse of the settlor of the inter vivos marital deduction trust are deemed to have been contributed by the settlor's spouse and not by the settlor.  HISTORY: 2005 Act No. 66, Section 1; 2010 Act No. 244, Section 50, eff June 7, 2010; 2013 Act No. 100, Section 2, eff January 1, 2014.  Effect of Amendment  The 2010 amendment in subsections (a)(3) and (b) made nonsubstantive changes.  The 2013 amendment, in subsection (a)(3), substituted "the property held in a revocable trust at the time of the settlor's death" for "the property of a trust that was revocable at the settlor's death", added subsection identifier (1) to subsection (b), and added subsection (b)(2), relating to Section 2523 of the Internal Revenue Code of 1986.
SC Code § 62-7-506 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-506. Overdue distribution.

 Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date. For purposes of this section, a mandatory distribution is a distribution where the trustee has no discretion in determining whether the distribution shall be made or the amount or timing of such distribution.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-507 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-507. Personal obligations of trustee.

 Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-601 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-601. Capacity of settlor of revocable trust.

 The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-602 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-602. Revocation or amendment of revocable trust.

 (a) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before the effective date of this article.  (b) If a revocable trust is created or funded by more than one settlor:  (1) to the extent the trust consists of community property, the trust may be revoked by either spouse acting alone but may be amended only by joint action of both spouses; and  (2) to the extent the trust consists of property other than community property, each settlor may revoke or amend the trust with regard to the portion of the trust property attributable to that settlor's contribution; and  (3) upon the revocation or amendment of the trust by fewer than all of the settlors, the trustee shall promptly notify the other settlors of the revocation or amendment.  (c) The settlor may revoke or amend a revocable trust:  (1) by substantial compliance with a method provided in the terms of the trust; or  (2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by:  (A) a later will or codicil that expressly refers to the trust, manifesting clear and convincing evidence of the settlor's intent; or  (B) by oral statement to the trustee if the trust was created orally; or  (C) any other written method, other than a later will or codicil, delivered to the trustee and manifesting clear and convincing evidence of the settlor's intent.  (d) Upon revocation of a revocable trust, the trustee shall deliver the trust property as the settlor directs.  (e) [Reserved.]  (f) A conservator of the settlor or, if no conservator has been appointed, a guardian of the settlor may exercise a settlor's powers with respect to revocation, amendment, or distribution of trust property only with the approval of the court supervising the conservatorship or guardianship and with regard to the requirements of Section 62-5-408 (3)(c).  (g) A trustee who does not know that a trust has been revoked or amended is not liable to the settlor or settlor's successors in interest for distributions made and other actions taken on the assumption that the trust had not been amended or revoked.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.  Editor's Note  ARTICLE 5 of Title 62 was rewritten by 2017 Act No. 87, Section 5.A, effective January 1, 2019. For Section 62-5-408, referenced in (f), see now, Sections 62-5-107, 62-5-108, 62-5-404, 62-5-405, 62-5-414, 62-5-422, and 62-5-423.  Effect of Amendment  The 2013 amendment deleted and reserved former subsection (e), relating to agents. See, now, Section 62-7-602A.
SC Code § 62-7-602A (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-602A. Powers of agent acting pursuant to power of attorney.

 (a) An agent acting pursuant to a power of attorney may exercise the following powers of the settlor with respect to a revocable trust only to the extent expressly authorized by the terms of the trust or the power of attorney:  (1) revocation of the trust;  (2) amendment of the trust;  (3) additions to the trust;  (4) direction to dispose of property of the trust;  (5) creation of the trust, notwithstanding the provisions of Section 62-7-402(a)(1) and (2).  (b) An agent acting pursuant to a power of attorney may exercise the following powers of the settlor with respect to an irrevocable trust only to the extent expressly authorized by the terms of the trust or the power of attorney:  (1) additions to the trust;  (2) creation of the trust, notwithstanding the provisions of Section 62-7-402(a)(1) and (2).  (c) The exercise of the powers described in subsection (a) and (b) shall not alter the amount of property beneficiaries are to receive on the settlor's death under the settlor's existing will or other estate planning documents or in the absence thereof in accordance with the law of intestate succession.  HISTORY: 2005 Act No. 66, Section 1; 1976 Code Section 62-7-602(e); 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-603 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-603. Settlor's powers.

 While a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-604 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-604. Limitation on action contesting validity of revocable trust; distribution of trust property.

 (a) A person must commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within the earlier of:  (1) one year after the settlor's death; or  (2) one hundred twenty days after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address, and of the time allowed for commencing a proceeding.  (b) Upon the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless:  (1) the trustee knows of a pending judicial proceeding contesting the validity of the trust; or  (2) a potential contestant has notified the trustee of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced within one hundred twenty days after the contestant sent the notification.  (c) A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received.  HISTORY: 2005 Act No. 66, Section 1; 2010 Act No. 244, Section 51, eff June 7, 2010; 2013 Act No. 100, Section 2, eff January 1, 2014.  Effect of Amendment  The 2010 amendment in subsections (a)(2) and (b)(2) substituted "one hundred twenty" for "60" preceding "days after the".
SC Code § 62-7-605 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-605. Effect of penalty clause for contest.

 A provision in a revocable trust purporting to penalize any interested person for contesting the validity of the trust or instituting other proceedings relating to the trust is unenforceable if probable cause exists for instituting proceedings.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-606 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-606. Anti-lapse provision in trust.

 (A) Unless the trust expressly provides otherwise, if the beneficiary under a revocable trust, who is a great-grandparent or a lineal descendant of a great-grandparent of the settlor, is dead at the time of execution of the trust, fails to survive the settlor, or is treated as if he predeceased the settlor, the issue of the deceased beneficiary who survived the settlor take in place of the deceased beneficiary and if they are all of the same degree of kinship to the beneficiary they take equally, but if of unequal degree then those of more remote degree take by representation. One who would have been a beneficiary under a class gift if he had survived the settlor is treated as a beneficiary for purposes of this section whether his death occurred before or after the execution of the trust.  (B) Except as provided in subsection (A), if the disposition of any real or personal property under a revocable trust fails for any reason, this property becomes a part of the residue of the trust.  (C) Except as provided in subsection (A), if the residue under a revocable trust is distributed to two or more persons and the share of one of the residuary beneficiaries fails for any reason, his share passes to the other residuary beneficiary or to other residuary beneficiaries in proportion to their interests in the residue.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.