NationsBank of SC v. Greenwood

Shaw, Justice:

In this probate matter, George Richard Greenwood, a residuary devisee, appeals the circuit court’s order affirming the decision of the probate court which found that there was no residue in the Estate of Margarget C. York and that the unpaid pecuniary bequests should be paid from the income earned during the administration of the estate. We affirm.

On January 23, 1988, Margaret C. York executed a Trust Agreement, naming NCNB of South Carolina (now Nations-Bank) as the trustee. The trust was funded with the sum of one dollar. No other assets were ever placed in the trust. In…