Appeals Panel Reverses $50M Required Payment By Trust To Conservator

Mealey's (January 9, 2019, 1:06 PM EST) -- COLUMBIA, S.C. — The South Carolina Court of Appeals on Jan. 4 reversed a lower court’s upholding of an order requiring an irrevocable trust to pay $50 million to a conservator because the money was not part of the estate under Section 62-5-402(2) of the South Carolina Code (Peter J. Wellin, et al. v. Keith S. Wellin, No. 2016-001141, S.C. App., 2019 S.C. App. LEXIS 2)....