What Are My Duties as Trustee in South Carolina?

South Carolina requires the successor trustee to notify qualified beneficiaries of the trust's existence and the trustee's contact information within 90 days of the grantor's death.S.C. Code Ann. § 62-7-101 et seq.Verified May 27, 2026 The notice typically includes the trustee's name and address, and the beneficiary's right to request trust information.

When the grantor dies, the revocable trust becomes irrevocable and requires its own EIN (Employer Identification Number) from the IRS. The trustee must file Form 1041 (U.S. Income Tax Return for Estates and Trusts) for any income earned by trust assets after the date of death. The trust may also need to file a South Carolina state income tax return.

South Carolina requires trustees to maintain detailed records of all trust transactions, including income, expenses, distributions, and investment decisions.S.C. Code Ann. § 62-7-101 et seq.Verified May 27, 2026 Beneficiaries have the right to request accountings. Proper documentation protects the trustee from liability claims and provides transparency for beneficiaries.

Trustee compensation in South Carolina is based on reasonable compensation for the services performed. Professional trustees typically charge 0.5-1.5% of trust assets annually. Individual (non-professional) trustees often reference executor fee guidelines (5-5% of estate value) as a benchmark. See the South Carolina trustee compensation guide for details.

Trust administration in South Carolina typically takes 6-12 months, compared to 9-18 months for average probate cases.S.C. Code § 62-3-719 (PR compensation, 5% cap, $50 min), § 62-1-111 (attorney fees), § 62-3-1201 (small estate affidavit — $45K personal property, 30-day wait, no real property), § 62-3-1203 (summary administration — $45K), § 62-3-603 (bond not required by default in 4 enumerated cases; § 62-3-605 demand for bond), § 62-3-801(a) (8-month publication notice), § 62-3-803 (creditor claims — earlier of 1 year from death or § 62-3-801(a) period), § 62-3-203 (PR priority order), § 8-21-770(B) (graduated probate court fee schedule: $25 / $45 / $67.50 / $95 tiers, +0.15% over $100K, +0.25% over $600K); 2025 Act No. 26 / H.3472 (small estate + exempt property thresholds raised from $25K to $45K, eff. May 8, 2025). Verified against scstatehouse.gov 2026-05-27.Verified May 27, 2026 Trust creditors have 8 months to file claims, compared to 8 months for probate creditor claims. Trust administration avoids court involvement, public filings, and many of the procedural delays associated with probate. See the South Carolina estate settlement guide for a complete overview.