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Trust Law

May 2012

Qualified Personal Residence Trust
As a trustee of a Qualified Personal Residence Trust (QPRT), it is a breach of fiduciary duty to sell a home and not use the proceeds to buy a replacement home to be placed in the QPRT per the terms of the trust.
Eldridge v. Eldridge, No. 27123 (S.C. Sup. Ct., May 9, 2012) (Shearouse Adv. Sh. No. 16).