Find Laws Find Lawyers Free Legal Forms USA State Laws

SOUTH DAKOTA STATUTES AND CODES

Section 55-13A-413 - Property not productive of income.

55-13A-413. Property not productive of income. (a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under § 55-13A-104 and distributes to the spouse from principal pursuant to the terms of the trust are insufficient to provide the spouse with the beneficial enjoyment required to obtain the marital deduction, the spouse may require the trustee to make property productive of income, convert property within a reasonable time, or exercise the power conferred by § 55-13A-104(a). The trustee may decide which action or combination of actions to take.
(b) In cases not governed by subsection (a), proceeds from the sale or other disposition of an asset are principal without regard to the amount of income the asset produces during any accounting period.

Source: SL 2007, ch 282, § 23.

South Dakota Forms by Issue

South Dakota Court Forms
> Personal Protection
South Dakota Divorce Forms
South Dakota Family Forms
South Dakota Name Change Forms
South Dakota Parental Notification Forms

South Dakota Law

South Dakota State Laws
    > South Dakota Child Support
    > South Dakota Gun Laws
    > South Dakota Statute
South Dakota Tax
    > South Dakota State Tax
South Dakota Agencies
    > South Dakota Department of Labor

South Dakota Court Map

Tips