South Carolina Trust Form For Trust
Description
How to fill out South Carolina Living Trust For Husband And Wife With One Child?
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FAQ
The certificate must be acknowledged by the acting trustees and witnesses in the presence of a Notary Public before it is recorded in the county where the subject real property is situated. Consult a lawyer with questions regarding certifications of trust in South Carolina.
Create the trust document. You can get help from an attorney or use Willmaker & Trust (see below). Sign the document in front of a notary public. Change the title of any trust property that has a title document?such as your house or car?to reflect that you now own the property as trustee of the trust.
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.
To make a living trust in South Carolina, you: Choose whether to make an individual or shared trust. Decide what property to include in the trust. Choose a successor trustee. Decide who will be the trust's beneficiaries?that is, who will get the trust property. Create the trust document.
An electing small business trust is taxed at the highest rate as provided in SC Code Section 12-6-510?. Any other estate or trust pays the same rate that applies to individuals. An estate or trust may be eligible for the reduced Income Tax rate of 3% on active trade or business income from a pass through business.