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S.D. Codified Laws § 55-1-25

Distinction between discretionary trust and support trust--Creditor rights--Judicial review

Applied in 2 court decisions — leading case In re Cleopatra Cameron Gift Trust (2019)

Most recently applied in Matter of Cameron Trust (June 2019)

Source: SL 2007, ch 280, § 2; SL 2015, ch 240, § 11.

The common law distinction between a discretionary trust and a support trust and the dual judicial review standards related to this distinction shall be maintained. In the area of creditor rights, the Restatement of Trusts (Third) and the Uniform Trust Code create many new positions of law as well as adopts many minority positions of law. The provisions of §§ 55-1-24 to 55-1-43, inclusive, affirmatively reject many of these positions. Therefore, the Legislature does not intend the courts to consult the Restatement (Third) of the Law of Trusts § 50, § 56, § 58, § 59, or § 60 as approved by the American Law Institute or Uniform Trust Code Article 5 and Section 814(a) as approved by the National Conference of Commissioners on Uniform State Laws in 2004 with respect to subject matters addressed by the provisions of §§ 55-1-24 to 55-1-43, inclusive.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.