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A173, R178, S94
Sponsors: Senators Campsen, Knotts and Fair
Document Path: l:\council\bills\agm\18628mm07.doc
Introduced in the Senate on January 9, 2007
Introduced in the House on May 1, 2007
Last Amended on April 26, 2007
Passed by the General Assembly on January 30, 2008
Governor's Action: February 4, 2008, Signed
Summary: Elective share
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 11/29/2006 Senate Prefiled 11/29/2006 Senate Referred to Committee on Judiciary 1/9/2007 Senate Introduced and read first time SJ-67 1/9/2007 Senate Referred to Committee on Judiciary SJ-67 1/17/2007 Senate Referred to Subcommittee: Gregory (ch), Elliott, Anderson, Ritchie, Cleary 4/4/2007 Senate Committee report: Favorable Judiciary SJ-3 4/17/2007 Senate Amended SJ-20 4/18/2007 Senate Read second time SJ-15 4/26/2007 Senate Amended SJ-17 4/26/2007 Senate Read third time and sent to House SJ-17 5/1/2007 House Introduced and read first time HJ-6 5/1/2007 House Referred to Committee on Judiciary HJ-7 1/23/2008 House Committee report: Favorable Judiciary HJ-3 1/29/2008 House Read second time HJ-18 1/30/2008 House Read third time and enrolled HJ-17 1/31/2008 Ratified R 178 2/4/2008 Signed By Governor 2/11/2008 Copies available 2/11/2008 Effective date See Act for Effective Date 2/11/2008 Act No. 173
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VERSIONS OF THIS BILL
(A173, R178, S94)
AN ACT TO AMEND SECTION 62-2-204, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO A SURVIVING SPOUSE'S RIGHTS TO AN ELECTIVE SHARE, HOMESTEAD ALLOWANCE, AND EXEMPT PROPERTY, SO AS TO PROVIDE FOR THE VOLUNTARY WAIVER OF THOSE RIGHTS UPON FAIR, REASONABLE, AND WRITTEN DISCLOSURE BY THE OTHER SPOUSE.
Be it enacted by the General Assembly of the State of South Carolina:
Waiver of elective rights
SECTION 1. Section 62-2-204 of the 1976 Code is amended to read:
"Section 62-2-204. (A) The rights of a surviving spouse to an elective share, homestead allowance, and exempt property, or any of them, may be waived, wholly or partially, before or after marriage, by a written contract, agreement, or waiver voluntarily signed by the waiving party after fair and reasonable disclosures to the waiving party of the other party's property and financial obligations have been given in writing.
(B) Unless it provides to the contrary, a waiver of all rights in the property or estate of a present or prospective spouse or a complete property settlement entered into after or in anticipation of separation or divorce is a waiver of all rights to elective share, homestead allowance, and exempt property by each spouse in the property of the other and a disclaimer by each of all benefits which would otherwise pass to him from the other by intestate succession or by virtue of the provisions of a will executed before the waiver or property settlement."
SECTION 2. This act takes effect upon approval by the Governor and applies to all waivers executed after that date.
Ratified the 31st day of January, 2008.
Approved the 4th day of February, 2008.
This web page was last updated on Monday, October 10, 2011 at 1:26 P.M.