Event Description

This session provides a comprehensive update on recent legislative, regulatory, and case law developments affecting South Carolina tax and estate planning. The presentation covers new revenue rulings, procedures, and notices issued for 2025, including interest rates, safe harbor provisions for trusts with digital assets, and transitional relief for tip and overtime reporting. It also reviews cost-of-living adjustments for retirement plans, enacted legislation such as the extended rule against perpetuities, and updates to the South Carolina Department of Revenue’s website and policy manuals. The session concludes with a detailed analysis of recent state and federal court cases impacting tax, probate, and property law in South Carolina.

Objectives

• Identify and explain the key 2025 South Carolina revenue rulings, procedures, and notices affecting interest rates, digital asset trusts, and reporting requirements.
• Summarize recent cost-of-living adjustments for retirement plans and IRAs, including contribution limits and compensation thresholds.
• Recognize significant legislative changes, such as the extension of the rule against perpetuities and requirements for independent trustees in grantor trusts.
• Analyze selected recent South Carolina appellate and Supreme Court cases relevant to tax, probate, property, and marital law.
• Locate and utilize updated resources and policy manuals from the South Carolina Department of Revenue for ongoing compliance and research.