South Carolina § 62-7-105 Default and mandatory rules.

South Carolina Statutes

§ 62-7-105 — Default and mandatory rules.

South Carolina·Title 62 SOUTH CAROLINA PROBATE CODE·Ch. ARTICLE 7 - SOUTH CAROLINA TRUST CODE

(a)Except as otherwise provided in the terms of the trust, this article governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.

(b)The terms of a trust prevail over any provision of this article except:

(1)the requirements for creating a trust;

(2)the duty of a trustee to act in good faith and in accordance with the purposes of the trust;

(3)the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful and possible to achieve;

(4)the power of the court to modify or terminate a trust under Sections 62-7-410 through 62-7-416;

(5)the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Part 5;

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(a) Except as otherwise provided in the terms of the trust, this article governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (b) The terms of a trust prevail over any provision of this article except: (1) the requirements for creating a trust; (2) the duty of a trustee to act in good faith and in accordance with the purposes of the trust; (3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful and possible to achieve; (4) the power of the court to modify or terminate a trust under Sections 62-7-410 through 62-7-416; (5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Part 5; (6) the limitations on the ability of a settlor's agent under a power of attorney to revoke, amend, or make distributions from a revocable trust pursuant to Section 62-7-602A; (7) the power of the court under Section 62-7-708(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high; (8) the effect of an exculpatory term under Section 62-7-1008; (9) the rights under Sections 62-7-1010 through 62-7-1013 of a person other than a trustee or beneficiary; (10) periods of limitation for commencing a judicial proceeding; (11) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and (12) the subject matter jurisdiction of the court and venue for commencing a proceeding as provided in Sections 62-7-201 and 62-7-204.

South Carolina § 62-7-105 (Default and mandatory rules.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 2005 Act No. 66, SECTION 1; 2010 Act No. 244, SECTION 45, eff June 7, 2010; 2013 Act No. 100, SECTION 2, eff January 1, 2014. Effect of Amendment The 2013 amendment in subsection (b)(6) substituted "62-7-602A" for "62-7-602(e)".