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Classification And Creation Of Trusts
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South Dakota Codified Laws
Fiduciaries and Trusts
Classification And Creation Of Trusts
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Section
55-1-1
Purposes for which trust may be created.
Section
55-1-2
Trusts classified.
Section
55-1-3
Express trust defined.
Section
55-1-4
Creation of express trust--Words or acts of trustor.
Section
55-1-5
Express trust created as to trustee--Words and acts of trustee.
Section
55-1-5.1
Express trust need not be for exclusive benefit of beneficiaries.
Section
55-1-6
Implied trust--Definition--Creation.
Section
55-1-6.1
Implied trust may not prejudice rights of real property purchaser or encumbrancer.
Section
55-1-7
Wrongful detention creates implied trust.
Section
55-1-8
Implied trust resulting from fraud, accident or wrongful act.
Section
55-1-9
Implied trust created by transfer of property in violation of trust.
Section
55-1-10
Transfer of real property to one for money paid by another--Trust presumed.
Section
55-1-11
Implied trust--Declaration by court of equity.
Section
55-1-12
Trustor, trustee, beneficiary, power of appointment, and person defined.
Section
55-1-13
Voluntary trustee--Assumption of relationship.
Section
55-1-14
Interest in existing trust--Transfer by operation of law or written instrument.
Section
55-1-15
Certain trusts not terminated upon trustor's death.
Section
55-1-16
55-1-16 to 55-1-19.Repealed by SL 2007, ch 280, §§21 to 24.
Section
55-1-20
Trusts for noncharitable purposes.
Section
55-1-21
Trust for care of animal, care of other property, or other lawful noncharitable purpose.
Section
55-1-21.1
Termination of trust for care of animal.
Section
55-1-21.2
Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.
Section
55-1-21.3
Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.
Section
55-1-21.4
Enforcement of purpose of trust by enforcer.
Section
55-1-21.5
Removal of enforcer.
Section
55-1-21.6
Discretion of trustee of purpose trust.
Section
55-1-21.7
Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.
Section
55-1-21.8
Distribution of property upon termination of purpose of trust.
Section
55-1-21.9
Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.
Section
55-1-21.10
Trustee may not use principal and income other than for trust's purposes.
Section
55-1-22
Hybrid purpose trusts valid.
Section
55-1-22.1
Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.
Section
55-1-22.2
Beneficiaries' share of a hybrid purpose trust.
Section
55-1-22.3
Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.
Section
55-1-22.4
Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.
Section
55-1-22.5
Discretion of trustee of hybrid purpose trust.
Section
55-1-22.6
Enforcer of hybrid purpose trust.
Section
55-1-23
55-1-23.Repealed by SL 2011, ch 212, §41.
Section
55-1-24
Definitions applicable to §§ 55-1-24 to 55-1-45.
Section
55-1-24.1
Improper motive.
Section
55-1-24.2
Withdrawal power.
Section
55-1-25
Distinction between discretionary trust and support trust--Creditor rights--Judicial review.
Section
55-1-26
Judicial foreclosure of beneficial interests, powers of appointment, and reserved powers prohibited--Creditors may not reach powers of appointment or remainder interests.
Section
55-1-27
Certain remainder interests not property interests.
Section
55-1-28
Interest of beneficiary or others not reachable by creditors.
Section
55-1-29
Trust property not subject to personal obligations of trustee.
Section
55-1-30
Distribution and remainder interests not relevant to division of marital property.
Section
55-1-31
Resources of settlor's spouse to be considered in making distribution from support trust--Other beneficiary's resources need not be considered.
Section
55-1-32
Factors which are not dominion and control over trust.
Section
55-1-33
Factors which are insufficient evidence that settlor controls or is alter ego of trustee.
Section
55-1-34
Provision that beneficial interest in trust income or principal may not be transferred before payment to beneficiary permissible.
Section
55-1-35
Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.
Section
55-1-36
Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.
Section
55-1-36.1
Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes.
Section
55-1-37
Application of spendthrift provision.
Section
55-1-38
Classification of distribution interest.
Section
55-1-38.1
Classification of interest as support interest.
Section
55-1-39
Bifurcation of trust.
Section
55-1-40
Language resulting in classification of distribution interest.
Section
55-1-41
Effect of spendthrift provision.
Section
55-1-42
Mandatory or support interests.
Section
55-1-43
Discretionary interests.
Section
55-1-44
Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof.
Section
55-1-45
Limitation of action for fraudulent transfer of settlor's assets.
Section
55-1-46
No contest clause defined--Enforceability.
Section
55-1-47
Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause.
Section
55-1-48
Circumstances under which no contest clause unenforceable.
Section
55-1-49
Contest regarding settlor's signature.
Section
55-1-50
Attorneys fees and costs.
Section
55-1-51
Applicability of §§ 55-1-46 to 55-1-50.
Section
55-1-52
Interest on general pecuniary devises.
Section
55-1-53
Expansion, restriction, elimination, or variance of provisions of general application.
Section
55-1-54
Arbitration.
Section
55-1-55
Trust enforceable although not funded or without res, corpus, or assets.
Section
55-1-56
Registration of trust in court at principal place of administration.
Section
55-1-57
Contents of registration statement.
Section
55-1-58
Confidentiality of registration.
Section
55-1-59
Trust registration form.