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Wills, Trusts & Estates Keyed to Gallanis
Seifert v. Southern National Bank of South Carolina
Citation:
409 S.E.2d 337 (S.C. 1991)Facts
Widow and Husband were married approximately ten years. On August 5, 1987, Husband created a revocable inter-vivos trust in favor of respondents, Husband’s daughters from a former marriage, to which he transferred the better part of his estate. At his death, the value of the trust was approximately $800,000. Under the terms of the trust, upon Husband’s death, a separate trust containing $150,000, known as the Agnes T. Seifert Trust, was carved from respondents’ trust. Widow received a life interest in the income of the Agnes T. Seifert Trust and could invade the principal for medical purposes only. The will also provided that the residue of the estate be transferred to respondents’ trust. Widow made a timely request for her elective share; however, Husband’s will was designed so that there were no other assets in the estate, other than the life interest in the house, his personal property, and what was contained in the residue.
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