A New SC Supreme Court Decision Protects Ability of Personal Representatives, Guardians, Attorneys in Fact, and Conservators to Serve

Short summary

A July 2026 South Carolina Supreme Court ruling clarifies that serving as a personal representative, guardian, conservator, or power-of-attorney agent does not constitute "trust business" under the state Banking Code. The Court rejected the Board of Financial Institutions' attempt to impose banking-level licensing and fees on corporate fiduciaries performing probate-related roles. This preserves access to professional fiduciary services without burdensome regulatory requirements.

• •SC Supreme Court rules probate fiduciary roles are not "trust business" under Banking Code
• •Corporate fiduciaries need not pay $15K application fee or $20K annual supervisory fees
• •Probate courts already provide sufficient oversight through accountings, bonds, and sanctions

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