REVOCABLE LIVING TRUST AGREEMENT

(“[TRUST NAME]”)

[Effective Date: ___]
[State of South Carolina]

TABLE OF CONTENTS

1. Document Header
2. Definitions
3. Operative Provisions
4. Representations & Warranties
5. Covenants & Restrictions
6. Default & Remedies
7. Risk Allocation
8. Dispute Resolution
9. General Provisions
10. Execution Block

1. DOCUMENT HEADER

1.1 Parties

This Revocable Living Trust Agreement (the “Agreement”) is made and entered into as of the Effective Date by and among:

1. [GRANTOR FULL NAME], of [Address], hereinafter the “Grantor” and initial trustee; and
2. [INITIAL TRUSTEE FULL NAME], of [Address], hereinafter the “Trustee.”

1.2 Recitals

A. Grantor desires to create a revocable living trust pursuant to the South Carolina Trust Code, S.C. Code Ann. § 62-7-101 et seq. (“SCTC”).
B. Grantor hereby transfers, or will contemporaneously transfer, the property described in Schedule A (collectively, the “Initial Trust Estate”) to Trustee IN TRUST for the uses and purposes set forth herein.
C. Grantor reserves the unrestricted right to revoke, amend, or terminate this Trust as provided below.

[// GUIDANCE: Add additional background recitals as desired, e.g., estate planning goals.]

2. DEFINITIONS

For purposes of this Agreement, capitalized terms have the meanings set forth below (alphabetically):

“Accounting Period” – Each calendar year ending December 31, or such shorter period that ends upon the final distribution of the Trust Estate.
“Beneficiary” – Any person or entity presently or potentially entitled to distributions under Article 3.
“Disability” – Grantor’s incapacity as determined under Section 3.4.
“Grantor” – Defined in Section 1.1.
“Qualified Successor Trustee” – A successor trustee satisfying Section 3.8.
“Revocation Notice” – A written instrument executed by Grantor in accordance with Section 3.9.
“Trust Estate” – All property, real or personal, tangible or intangible, held from time to time by Trustee under this Agreement.
“Trustee” – The person or entity serving as trustee, including all Successor Trustees.

3. OPERATIVE PROVISIONS

3.1 Establishment of Trust

Grantor hereby establishes the “[TRUST NAME]” as a revocable trust governed by the laws of South Carolina. Title to all property delivered to Trustee shall vest in Trustee to be held, administered, and distributed according to this Agreement.

3.2 Revocability & Amendments

(a) Grantor may revoke or amend this Trust, in whole or in part, by delivering a Revocation Notice to Trustee during Grantor’s lifetime and capacity.
(b) Any amendment shall be in writing, signed by Grantor, and acknowledged before a notary public.
(c) Upon Grantor’s death, this Trust becomes irrevocable.

3.3 Distributions During Grantor’s Lifetime

During Grantor’s lifetime and capacity, Trustee shall distribute to or for the benefit of Grantor so much of the net income or principal of the Trust Estate as Grantor may request. Absent request, Trustee may pay income to Grantor at least annually.

3.4 Incapacity of Grantor

(a) Determination. Grantor’s Disability shall be evidenced by either:
i. Written certification of incapacity by two licensed physicians; or
ii. Judicial determination of incapacity.
(b) During Disability, Trustee shall apply income and principal for Grantor’s health, maintenance, support, and best interests, considering other available resources.

3.5 Disposition Upon Grantor’s Death

Upon Grantor’s death, Trustee shall:
1. Pay Grantor’s enforceable debts, expenses, and taxes;
2. Distribute any specific gifts under Schedule B; and
3. Distribute the remaining Trust Estate in accordance with Schedule C or Article 5.

3.6 Spendthrift Protection

Except as expressly provided by SCTC § 62-7-502, the interests of Beneficiaries are subject to a spendthrift trust, and are not assignable or subject to creditors’ claims.

3.7 Trustee Powers

Subject to fiduciary duties under SCTC § 62-7-801 et seq., Trustee shall have all powers set forth in SCTC § 62-7-816 and the following supplemental powers:
a. Invest and reinvest without restriction to statutory lists;
b. Retain assets received, including closely-held business interests;
c. Distribute in cash or in-kind;
d. Allocate receipts between income and principal under SCTC § 62-7-901 et seq.;
e. Employ and rely on professionals;
f. Execute instruments necessary to convey, lease, or mortgage real property.

3.8 Successor Trustee Rules

(a) Designation. The following persons, in the order named, are designated Successor Trustees:
1. [SUCCESSOR TRUSTEE #1];
2. [SUCCESSOR TRUSTEE #2];
3. A corporate fiduciary authorized to transact trust business in South Carolina.
(b) Acceptance. A Successor Trustee accepts office by delivering written acceptance to the resigning Trustee or, if none, to the Beneficiaries.
(c) Vacancy. If all nominated Successor Trustees fail to serve, a majority of the adult Beneficiaries may appoint a Qualified Successor Trustee.
(d) Bond. No bond shall be required of any Trustee unless required by a court of competent jurisdiction.
(e) Trustee Resignation. A Trustee may resign by giving 30 days’ written notice to Grantor (if living) and all adult Beneficiaries.
(f) Removal. Grantor reserves the power to remove a Trustee during Grantor’s lifetime by written notice.

3.9 Asset Transfer Procedures

(a) Real Property. Title to South Carolina real property shall be conveyed to “[TRUSTEE], Trustee, or its successors, under the [TRUST NAME] dated [DATE]” by recordable deed.
(b) Tangible Personal Property. Grantor assigns all household goods, furnishings, and personal effects to the Trust via the Assignment attached as Schedule D.
(c) Financial Accounts. Grantor shall re-title financial accounts in the name of the Trust or designate the Trust as payable-on-death beneficiary where appropriate.
(d) Newly Acquired Assets. Any asset acquired by Grantor after the Effective Date shall be transferred into the Trust pursuant to subsections (a)–(c) as soon as practicable.

4. REPRESENTATIONS & WARRANTIES

4.1 Grantor represents and warrants that:
(a) Grantor is of legal age and sound mind;
(b) Grantor owns the property described in Schedule A free of undisclosed liens;
(c) The execution and delivery of this Trust does not violate any agreement binding on Grantor.

4.2 Trustee represents and warrants that:
(a) Trustee is legally competent to serve;
(b) Trustee will administer the Trust in accordance with the SCTC and this Agreement;
(c) Trustee is not currently under any legal disability or conflict preventing service.

Survival. The representations and warranties in this Article survive acceptance of trust property and any amendment.

5. COVENANTS & RESTRICTIONS

5.1 Grantor covenants to execute all instruments reasonably requested by Trustee to effectuate the transfer of assets.
5.2 Trustee covenants to maintain accurate books and records and provide annual accountings to the current Beneficiaries within 90 days after each Accounting Period.
5.3 Beneficiaries shall furnish Trustee with current contact information and promptly notify Trustee of any change in tax status.
5.4 No Beneficiary shall compel discretionary distributions except upon Trustee’s abuse of discretion established by clear and convincing evidence.

6. DEFAULT & REMEDIES

6.1 Events of Default
(a) Trustee’s willful misconduct or gross negligence;
(b) Trustee’s failure to provide a required accounting after 30 days’ written notice;
(c) Material breach of fiduciary duty determined by a court or arbitrator under Article 8.

6.2 Notice & Cure
A non-defaulting party must give written notice specifying the default. Trustee shall have 30 days to cure, or such longer period as is reasonable under the circumstances.

6.3 Remedies
(a) Removal of Trustee and appointment of a Successor Trustee;
(b) Surcharge against Trustee’s interest in the Trust Estate;
(c) Specific performance or injunctive relief (see Section 8.5);
(d) Recovery of reasonable attorneys’ fees and costs from the Trust Estate unless the court finds otherwise.

7. RISK ALLOCATION

7.1 Trustee Indemnification

To the fullest extent permitted by SCTC § 62-7-1004, Trustee shall be indemnified from the Trust Estate against all claims, liabilities, and expenses (including reasonable attorneys’ fees) arising from the proper administration of the Trust, except for acts involving willful misconduct or gross negligence.

7.2 Limitation of Liability

Trustee’s liability to any person, including Beneficiaries, is limited to the value of the Trust Estate at the time of the claim. No personal liability attaches to Trustee for obligations incurred as Trustee.

7.3 Insurance

Trustee may, but is not required to, procure fiduciary liability insurance payable from the Trust Estate.

7.4 Force Majeure

Trustee shall not be liable for delays or failures to act occasioned by events beyond Trustee’s reasonable control, including natural disasters, war, or governmental action, provided Trustee acts diligently once the event abates.

8. DISPUTE RESOLUTION

8.1 Governing Law

This Agreement and all disputes arising hereunder are governed by the laws of the State of South Carolina, without regard to conflict-of-laws principles.

8.2 Forum Selection

Exclusive venue for all judicial proceedings concerning this Trust shall lie in the Probate Court of the county where the Trust is primarily administered.

8.3 Optional Arbitration

Any party may elect to submit a dispute under Section 6.1 to binding arbitration administered by the American Arbitration Association (“AAA”) in accordance with its Trust & Estate Arbitration Rules then in effect. Judgment on the award may be entered by the Probate Court. Election must be made within 30 days after service of a petition or complaint. Costs of arbitration shall be paid from the Trust Estate unless the arbitrator allocates otherwise.

8.4 Jury Waiver

Because proceedings relating to trusts are normally within the exclusive jurisdiction of the Probate Court, no party shall demand a trial by jury.

8.5 Injunctive Relief

Nothing herein limits any party’s right to seek provisional or injunctive relief in the Probate Court to preserve Trust assets or enforce fiduciary duties.

9. GENERAL PROVISIONS

9.1 Amendment & Waiver
Only Grantor (while living and competent) may amend or revoke this Trust. No waiver of a provision constitutes a waiver of any other provision.

9.2 Assignment
No Beneficiary may assign, pledge, or otherwise transfer any interest in the Trust except as expressly permitted herein.

9.3 Successors & Assigns
All provisions in favor of or against Trustee bind and inure to the benefit of any Successor Trustee.

9.4 Severability
If any provision is held invalid, the remaining provisions shall be construed to effectuate the intent of the parties as closely as possible.

9.5 Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior understandings.

9.6 Counterparts
This Agreement may be executed in multiple counterparts, each of which shall constitute an original and all of which together shall constitute one instrument.

9.7 Electronic Signatures
Pursuant to the South Carolina Uniform Electronic Transactions Act, electronic signatures or acknowledgments are binding to the same extent as ink signatures.

10. EXECUTION BLOCK

IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.

NOTARY ACKNOWLEDGMENT

State of South Carolina )
County of __ )

The foregoing instrument was acknowledged before me this ___ day of _, 20_, by _______ [Grantor].

Notary Public for South Carolina
My Commission Expires: _____

WITNESSES

[// GUIDANCE: South Carolina does not strictly require witness signatures for inter vivos trusts, but two disinterested witnesses plus notarization are strongly recommended for recordation of real property and to minimize future challenges.]

SCHEDULE A – INITIAL TRUST ESTATE

[List all property with legal descriptions, account numbers, or identifying details.]

SCHEDULE B – SPECIFIC GIFTS (OPTIONAL)

[List specific distributions, e.g., antiques, heirlooms.]

SCHEDULE C – DISTRIBUTION PLAN AFTER GRANTOR’S DEATH

1. Percentages to named Beneficiaries; or
2. Creation of sub-trusts (credit-shelter, marital, special needs, etc.).

SCHEDULE D – ASSIGNMENT OF TANGIBLE PERSONAL PROPERTY

[Separate short-form assignment signed by Grantor transferring all tangible personal property to Trustee.]

[// GUIDANCE:
1. Attach separate “Pour-Over Will” naming this Trust as residuary beneficiary.
2. Coordinate beneficiary designations on retirement plans and life insurance with the distribution plan in Schedule C.
3. Review annually and upon major life events.
4. Record any deed conveying real property into the Trust in the office of the Register of Deeds for the county where the property is located.]