South Carolina Code 62-7-303. Representation by fiduciaries and parents
(1) a conservator may represent and bind the estate that the conservator controls to the extent of the powers and authority conferred upon conservators generally or by court order;
Terms Used In South Carolina Code 62-7-303
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Trustee: A person or institution holding and administering property in trust.
(2) a guardian may represent and bind the ward if a conservator of the ward’s estate has not been appointed to the extent of the powers and authority conferred upon guardians generally or by court order;
(3) an agent may represent and bind the principal to the extent the agent has authority to act with respect to the particular question or dispute;
(4) a trustee may represent and bind the beneficiaries of the trust with respect to questions or disputes involving the trust;
(5) a personal representative of a decedent‘s estate may represent and bind persons interested in the estate with respect to questions or disputes involving the decedent’s estate; and
(6) a person may represent and bind the person’s minor or unborn issue if a conservator or guardian for the issue has not been appointed.
(b) The order in which the beneficiary representatives are listed above sets forth the priority each such beneficiary representative has relative to the others. In any judicial proceeding or upon petition to the court, the court for good cause may appoint a beneficiary representative having lower priority or a person having no priority.