1. Competent: The grantor must have the capacity to create a trust.
2. Intent: The grantor must indicate an intention to create the trust.
3. Definite Beneficiary: Unless it is a charitable trust or a trust for the care of an animal, the trust must have an identifiable beneficiary.
4. Trustee’s Duties: The trustee must have duties to perform.
5. Sole Trustee Cannot be the Sole Beneficiary: The same person cannot be both the sole trustee and sole beneficiary of the trust.^[1]

Amending/Revoking – Unless the terms of the trust explicitly state that it is irrevocable, the grantor may amend or revoke the trust.^[2]

Bond Requirement – The trustee must put forward a bond if this is a requirement under the terms of the trust, if they have been ordered to do so by the court, or if a beneficiary requests such a bond and the court deems this request reasonable.^[3]

Certification of Trust – In lieu of a copy of the trust instrument, the trustee may provide a person other than a beneficiary with a certification of trust stating the date of the trust’s creation, the identities of the grantor and trustee, and other relevant details.^[4]

Co-Trustees – Co-trustees may act by majority decision if they are unable to reach a unanimous decision.^[5]

Contesting a Trust – A proceeding to contest the validity of a trust must be commenced within one year of the grantor’s death or within 120 days of having received a copy of the trust instrument from the trustee, whichever is earlier.^[6]

Costs Related to the Trust – In administering the trust, the trustee may only incur reasonable costs.^[7]

Jurisdiction – A trust created in another jurisdiction is valid in South Carolina if it was created in compliance with the laws of the original jurisdiction.^[8]

Oral Trusts – Clear and convincing evidence is required to establish the creation of a valid oral trust.^[9]

Pet Trusts – A trust may be created to provide for the care of one or more animals alive or in gestation during the grantor’s lifetime. The trust terminates following the death of the final surviving animal.^[10]

Signing Requirements – A trust of real property must be evidenced by a written instrument that is signed by the grantor or the grantor’s agent.^[11]

Spendthrift Provision – A spendthrift provision must restrain both the voluntary and involuntary transfer of a beneficiary’s interest in order to be valid.^[12]

Trustee’s Compensation – If the trustee’s compensation is not specified by the terms of the trust, the trustee is otherwise entitled to reasonable compensation.^[13]

Trustee’s Duties – The trustee must prudently administer the trust in good faith, in the interests of the beneficiaries, and in accordance with its terms and purposes.^[14]

Trustee’s Powers – The trustee is empowered to collect, acquire, sell, exchange, partition, or otherwise alter the character of trust property.^[15]