When can a trust be contested in South Carolina?
Trusts can be a great estate planning tool for South Carolina residents. Trusts can give a person more control over how their assets are passed down and the terms and conditions that beneficiaries must meet.
It’s not entirely uncommon for beneficiaries to disagree with the terms of the trust. In this case, the trust may be able to be contested.
Why might someone contest a trust
Sometimes a beneficiary or related person might contest a trust if they are unhappy with the results. Some reasons might be that someone was left out, or concerns of fraud in the trust.
You also might contest a will when you believe the trustee is mismanaging assets. For one reason or another, you want the terms of the trust changed because you’re unhappy with them – but you need more than that to contest at rust.
When can a trust be contested?
Trusts can only be contested by beneficiaries, heirs of the trust grantor, or a successor trustee. The person challenging the trust must have grounds to do so, outside of not being happy with the existing terms. A valid claim to change the terms of the trust could be:
· Trust grantor being mentally incapacitated/incompetent when they made the trust
· The trust grantor being coerced into creating the terms
· Concerns of forgery in important documents
· The trustee is mismanaging trust assets
Usually, there are time limitations on your ability to contest a trust. Some states might have a statute of limitations, usually 120 days from the date of the trust grantor’s death to several years.
It can be very upsetting to believe that your loved one’s trust is mismanaged or was set up incorrectly. But contesting a trust can be an expensive process. Ultimately, you’ll have to decide with your family whether to contest a trust.