Chapter 01 - Classification And Creation Of Trusts

SOUTH DAKOTA STATUTES AND CODES

Chapter 01 - Classification And Creation Of Trusts

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 55-1-6 - Implied trust--Definition--Creation.
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 - Definition of terms--Trustor--Trustee--Beneficiary.
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.
Sections 55-1-16 to 55-1-19 - Repealed
Section 55-1-20 - Trusts for specific charitable or noncharitable purposes selected by trustee.
Section 55-1-21 - Trust for care of designated animal.
Section 55-1-22 - Provisions governing trusts for specific purposes selected by trustee and for care ofanimals.
Section 55-1-23 - Rule against perpetuities not reinstated.
Section 55-1-24 - Definitions.
Section 55-1-24.1 - Improper motive.
Section 55-1-25 - Distinction between discretionary trust and support trust--Creditor rights--Judicialreview.
Section 55-1-26 - Judicial foreclosure of beneficial interests, powers of appointment, and reservedpowers prohibited--Creditors may not reach powers of appointment or remainderinterests.
Section 55-1-27 - Certain remainder interests not property interests.
Section 55-1-28 - Removal or replacement power over trustee not exercisable by beneficiary'screditors--Interests of trustee beneficiary not reachable.
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 supporttrust--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 transferredbefore payment to beneficiary permissible.
Section 55-1-35 - Declaration that beneficiary's interest subject to a spendthrift trust sufficient torestrain alienation by beneficiary.
Section 55-1-36 - Conditions under which creditors of settlor beneficiary not prevented from satisfyingclaims from settlor's interest in trust.
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.
Sections 55-1-39, 55-1-40 - Bifurcation of trust. Language resulting in classification of distribution interest
Section 55-1-41 - Effect of spendthrift provision.
Section 55-1-42 - Mandatory or support interests.

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Chapter 01 - Classification And Creation Of Trusts

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