Section 55-4-57 - Time for commencing judicial proceeding to contest validity of trust revocableat settlor's death--Distribution of trust property--Recovery of improperdistribution. - South Dakota Statutes

55-4-57. Time for commencing judicial proceeding to contest validity of trust revocable at settlor's death--Distribution of trust property--Recovery of improper distribution. (a) Any judicial proceeding to contest the validity of a trust that was revocable at the settlor's death shall be commenced within the earlier of:
(1) One year after the settlor's death; or
(2) Sixty days after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address, and of the time allowed for commencing a proceeding.
(b) Upon the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless:
(1) The trustee knows of a pending proceeding contesting the validity of the trust; or
(2) A potential contestant has notified the trustee of a possible proceeding to contest the trust and a proceeding is commenced within sixty days after the contestant sent the notification.
(c) A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received for proper distribution. If the beneficiary refuses to return the distribution, the beneficiary may be liable for all costs, including attorney fees, incurred for the recovery of the distribution.

Source: SL 2010, ch 232, § 11.