Chapter

CLASSIFICATION AND CREATION OF TRUSTS

S.D. Codified Laws § 55-1-1— Purposes for which trust may be created
S.D. Codified Laws § 55-1-2— Trusts classified
S.D. Codified Laws § 55-1-3— Express trust defined
S.D. Codified Laws § 55-1-4— Creation of express trust--Words or acts of trustor
S.D. Codified Laws § 55-1-5— Express trust created as to trustee--Words and acts of trustee
S.D. Codified Laws § 55-1-5.1— Express trust need not be for exclusive benefit of beneficiaries
S.D. Codified Laws § 55-1-6— Implied trust--Definition--Creation
S.D. Codified Laws § 55-1-6.1— Implied trust may not prejudice rights of real property purchaser or encumbrancer
S.D. Codified Laws § 55-1-7— Wrongful detention creates implied trust
S.D. Codified Laws § 55-1-8— Implied trust resulting from fraud, accident or wrongful act
S.D. Codified Laws § 55-1-9— Implied trust created by transfer of property in violation of trust
S.D. Codified Laws § 55-1-10— Transfer of real property to one for money paid by another--Trust presumed
S.D. Codified Laws § 55-1-11— Implied trust--Declaration by court of equity
S.D. Codified Laws § 55-1-12— Trustor, trustee, beneficiary, power of appointment, and person defined
S.D. Codified Laws § 55-1-13— Voluntary trustee--Assumption of relationship
S.D. Codified Laws § 55-1-14— Interest in existing trust--Transfer by operation of law or written instrument
S.D. Codified Laws § 55-1-15— Certain trusts not terminated upon trustor's death
S.D. Codified Laws § 55-1-16— 55-1-16 to 55-1-19. Repealed by SL 2007, ch 280, §§ 21 to 24
S.D. Codified Laws § 55-1-20— Trusts for noncharitable purposes
S.D. Codified Laws § 55-1-21— Trust for care of animal, care of other property, or other lawful noncharitable purpose
S.D. Codified Laws § 55-1-21.1— Termination of trust for care of animal
S.D. Codified Laws § 55-1-21.2— Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes
S.D. Codified Laws § 55-1-21.3— Court order where fulfillment of purposes are impossible, inexpedient, or unlawful
S.D. Codified Laws § 55-1-21.4— Enforcement of purpose of trust by enforcer
S.D. Codified Laws § 55-1-21.5— Removal of enforcer
S.D. Codified Laws § 55-1-21.6— Discretion of trustee of purpose trust
S.D. Codified Laws § 55-1-21.7— Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust
S.D. Codified Laws § 55-1-21.8— Distribution of property upon termination of purpose of trust
S.D. Codified Laws § 55-1-21.9— Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions
S.D. Codified Laws § 55-1-21.10— Trustee may not use principal and income other than for trust's purposes
S.D. Codified Laws § 55-1-21.11— Co-enforcer appointment--Powers
S.D. Codified Laws § 55-1-22— Hybrid purpose trusts valid
S.D. Codified Laws § 55-1-22.1— Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust
S.D. Codified Laws § 55-1-22.2— Beneficiaries' share of a hybrid purpose trust
S.D. Codified Laws § 55-1-22.3— Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust
S.D. Codified Laws § 55-1-22.4— Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions
S.D. Codified Laws § 55-1-22.5— Discretion of trustee of hybrid purpose trust
S.D. Codified Laws § 55-1-22.6— Enforcer of hybrid purpose trust
S.D. Codified Laws § 55-1-23— 55-1-23. Repealed by SL 2011, ch 212, § 41
S.D. Codified Laws § 55-1-24— Definitions applicable to §§ 55-1-24 to 55-1-45
S.D. Codified Laws § 55-1-24.1— Improper motive
S.D. Codified Laws § 55-1-24.2— Withdrawal power
S.D. Codified Laws § 55-1-25— Distinction between discretionary trust and support trust--Creditor rights--Judicial review
S.D. Codified Laws § 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
S.D. Codified Laws § 55-1-27— Certain remainder interests not property interests
S.D. Codified Laws § 55-1-28— Interest of beneficiary or others not reachable by creditors
S.D. Codified Laws § 55-1-29— Trust property not subject to personal obligations of trustee
S.D. Codified Laws § 55-1-30— Distribution and remainder interests not relevant to division of marital property
S.D. Codified Laws § 55-1-32— Alter ego--Pierce the veil, dominion and control claims
S.D. Codified Laws § 55-1-33— Repealed
S.D. Codified Laws § 55-1-34— Provision that beneficial interest in trust income or principal may not be transferred before payment to beneficiary permissible
S.D. Codified Laws § 55-1-35— Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses
S.D. Codified Laws § 55-1-36— Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary
S.D. Codified Laws § 55-1-36.1— Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes
S.D. Codified Laws § 55-1-36.2— Income tax reimbursement or payment--Excluded source--Effect--Liability--Fiduciary duty--Applicability
S.D. Codified Laws § 55-1-37— Application of spendthrift provision
S.D. Codified Laws § 55-1-38— Classification of distribution interest
S.D. Codified Laws § 55-1-38.1— Classification of interest as support interest
S.D. Codified Laws § 55-1-39— Bifurcation of trust
S.D. Codified Laws § 55-1-40— Language resulting in classification of distribution interest
S.D. Codified Laws § 55-1-41— Effect of spendthrift provision
S.D. Codified Laws § 55-1-42— Mandatory or support interests
S.D. Codified Laws § 55-1-43— Discretionary interests
S.D. Codified Laws § 55-1-44— Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof
S.D. Codified Laws § 55-1-45— Limitation of action for fraudulent transfer of settlor's assets
S.D. Codified Laws § 55-1-46— No contest clause defined--Enforceability
S.D. Codified Laws § 55-1-47— Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause
S.D. Codified Laws § 55-1-48— Circumstances under which no contest clause unenforceable
S.D. Codified Laws § 55-1-49— Contest regarding settlor's signature
S.D. Codified Laws § 55-1-50— Attorneys fees and costs
S.D. Codified Laws § 55-1-51— Applicability of §§ 55-1-46 to 55-1-50
S.D. Codified Laws § 55-1-52— Interest on general pecuniary devises
S.D. Codified Laws § 55-1-53— Expansion, restriction, elimination, or variance of provisions of general application
S.D. Codified Laws § 55-1-54— Arbitration
S.D. Codified Laws § 55-1-55— Trust enforceable although not funded or without res, corpus, or assets
S.D. Codified Laws § 55-1-56— Registration of trust in court at principal place of administration
S.D. Codified Laws § 55-1-57— Contents of registration statement
S.D. Codified Laws § 55-1-58— Confidentiality of registration
S.D. Codified Laws § 55-1-59— Trust registration form