A court may reasonably reduce the amount of the property transferred to the trustee of a purpose trust if the court determines that the trust corpus substantially exceeds the amount required for the intended purposes. The court should consider allowing the trust to be administered for a reasonable period of time before undertaking a determination. The amount of the reduction, if any, passes as unexpended trust property, as set forth in § 55-1-21.8.
S.D. Codified Laws § 55-1-21.2
Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes
Source: SL 2018, ch 275, § 5.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.