Amends South Carolina law to allow perpetual care cemetery trust funds to use a unitrust method for distributions and sets graduated minimum.

This bill amends South Carolina law to allow care and maintenance trust funds for perpetual care cemeteries to use a unitrust method for distributions. The unitrust method determines the annual amount that may be distributed based on a fixed percentage of the net fair market value of the trust fund. The bill establishes graduated minimum distribution percentages based on the fair market value of the trust fund. The trustee must adopt a written policy governing valuation and distributions and maintain records to demonstrate compliance.

Amends South Carolina law to allow perpetual care cemetery trust funds to use a unitrust method for distributions and sets graduated minimum.

This bill amends South Carolina law to allow care and maintenance trust funds for perpetual care cemeteries to use a unitrust method for distributions. The unitrust method determines the annual amount that may be distributed based on a fixed percentage of the net fair market value of the trust fund. The bill establishes graduated minimum distribution percentages based on the fair market value of the trust fund. The trustee must adopt a written policy governing valuation and distributions and maintain records to demonstrate compliance.