A trustee may collect, hold, and retain trust assets until, in his judgment, disposition of the assets should be made, without regard to any effect the retention may have upon the diversification of the trust estate. Trust property may be retained even though it includes an asset in which its trustee is personally interested.
S.D. Codified Laws § 55-1A-5
Retention of trust property by trustee
Applied in 2 court decisions — leading case In Re the Estate of Moncur (2012)
Most recently applied in Endres v. Endres (December 2022)
Source: SL 1979, ch 336, § 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.