South Carolina Code 62-2-612. Proceeding to determine decedent’s intent regarding application of certain federal tax formulas
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 62-2-612
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Trustee: A person or institution holding and administering property in trust.
The personal representative, trustee, or any affected beneficiary under a will, trust, or other instrument of a decedent who dies or did die after December 31, 2009, and before January 1, 2011, may bring a proceeding to determine the decedent’s intent when the will, trust, or other instrument contains a formula that is based on the federal estate tax or generation-skipping tax.