South Dakota § 55-1-15 Certain trusts not terminated upon trustor's death.

South Dakota Statutes

§ 55-1-15 — Certain trusts not terminated upon trustor's death.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-1 CLASSIFICATION AND CREATION OF TRUSTS

A trust which provides for one or more successor beneficiaries upon the death of the trustor is not invalid, merged or terminated if:

(1)There is a trustor who is the sole trustee and the sole beneficiary during the trustor's lifetime; or (2) There are two or more trustors, one or more of whom is trustee, and the beneficial interest of the trust is in one or more of the trustors during the lifetime of the trustors.

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A trust which provides for one or more successor beneficiaries upon the death of the trustor is not invalid, merged or terminated if: (1) There is a trustor who is the sole trustee and the sole beneficiary during the trustor's lifetime; or (2) There are two or more trustors, one or more of whom is trustee, and the beneficial interest of the trust is in one or more of the trustors during the lifetime of the trustors.

South Dakota § 55-1-15 (Certain trusts not terminated upon trustor's death.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.