2005-2006 Bill 722: Surviving Spouse's Rights - South Carolina Legislature Online

South Carolina General Assembly

116th Session, 2005-2006

S. 722

STATUS INFORMATION

General Bill

Sponsors: Senator Campsen

Document Path: l:\council\bills\dka\3304mm05.doc

Introduced in the Senate on April 7, 2005

Currently residing in the Senate Committee on Judiciary

Summary: Surviving spouse's rights

HISTORY OF LEGISLATIVE ACTIONS

DateBodyAction Description with journal page number

4/7/2005SenateIntroduced and read first time SJ10

4/7/2005SenateReferred to Committee on JudiciarySJ10

4/15/2005SenateReferred to Subcommittee: Gregory (ch), Elliott, Anderson, Ritchie, Cleary

3/22/2006SenateCommittee report: Majority favorable with amend., minority unfavorable JudiciarySJ20

5/17/2006SenateRecommitted to Committee on JudiciarySJ37

VERSIONS OF THIS BILL

4/7/2005

3/22/2006

Indicates Matter Stricken

Indicates New Matter

COMMITTEE REPORT

March 22, 2006

S.722

Introduced by Senator Campsen

S. Printed 3/22/06--S.

Read the first time April 7, 2005.

THE COMMITTEE ON JUDICIARY

To whom was referred a Bill (S.722) to amend Section 622204, Code of Laws of South Carolina, 1976, relating to a surviving spouse’s rights to an elective share, homestead allowance, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass with amendment:

Amend the bill, as and if amended, by striking all after the enacting words and inserting the following:

/SECTION1.Section 622204 of the 1976 Code is amended to read:

“Section 622204.(A)The right of electionrights of a surviving spouse and the rights of the 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 party waiving party after fair and reasonable disclosures to the waiving party of the other party’s property and financial obligations, unless the waiving party also voluntarily waives, in writing, the right to the disclosure.

(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 anya will executed before the waiver or property settlement.”

SECTION2.This act takes effect upon approval by the Governor and applies to all waivers executed after that date. /

Renumber sections to conform.

Amend title to conform.

Majority favorable.Minority unfavorable.

GEORGE E. CAMPSEN IIIROBERT FORD

For Majority.For Minority.

[722-1]

A BILL

TO AMEND SECTION 622204, 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 AND REASONABLE DISCLOSURE BY THE OTHER SPOUSE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION1.Section 622204 of the 1976 Code is amended to read:

“Section 622204.(A)The right of electionrights of a surviving spouse and the rights of the 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 party waiving party after fair and reasonable disclosures to the waiving party of the other party’s property and financial obligations, unless the waiving party also waives, in writing, the right to the disclosure.

(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 anya will executed before the waiver or property settlement.”

SECTION2.This act takes effect upon approval by the Governor and applies to all waivers executed after that date.

XX

[722]1