South Dakota Statutes
§ 55-1-35 — Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.
South Dakota § 55-1-35
This text of South Dakota § 55-1-35 (Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 55-1-35 (2026).
Text
A declaration in a trust that the interest of a beneficiary shall be held subject to a spendthrift trust is sufficient to restrain voluntary or involuntary alienation of a beneficial interest by a beneficiary to the maximum extent provided by law. Regardless of whether a beneficiary has any outstanding creditor, a trustee of a spendthrift trust may directly pay any expense on behalf of such beneficiary and may exhaust the income and principal of the trust for the benefit of such beneficiary. No trustee is liable to any creditor for paying the expenses of a beneficiary of a spendthrift trust.
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Related
In re Cleopatra Cameron Gift Trust
931 N.W.2d 244 (South Dakota Supreme Court, 2019)
Matter of Cameron Trust
2019 S.D. 35 (South Dakota Supreme Court, 2019)
PLAINS COMMERCE BANK, INC. v. BECK
986 N.W.2d 519 (South Dakota Supreme Court, 2023)
Legislative History
SL 2007, ch 280, § 12; SL 2011, ch 212, § 34.
Nearby Sections
15
§ 55-1-2
Trusts classified.§ 55-1-20
Trusts for noncharitable purposes.§ 55-1-21.1
Termination of trust for care of animal.§ 55-1-21.11
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Bluebook (online)
South Dakota § 55-1-35, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/55-1-35.