South Dakota § 55-1-39 Bifurcation of trust.

South Dakota Statutes

§ 55-1-39 — Bifurcation of trust.

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

To the extent a trust contains any combination of a mandatory provision, a support provision, the trust shall be bifurcated as follows:

(1)The trust shall be a mandatory interest only to the extent of the mandatory language;

(2)The trust shall be a support interest only to the extent of such support language;

(3)The remaining trust property shall be held as a discretionary interest;

(4)A support interest that includes mandatory language such as "shall" but is subsequently qualified by discretionary language, shall be classified as a discretionary interest and not as a support interest.

Free access — add to your briefcase to read the full text and ask questions with AI

To the extent a trust contains any combination of a mandatory provision, a support provision, the trust shall be bifurcated as follows: (1) The trust shall be a mandatory interest only to the extent of the mandatory language; (2) The trust shall be a support interest only to the extent of such support language; (3) The remaining trust property shall be held as a discretionary interest; (4) A support interest that includes mandatory language such as "shall" but is subsequently qualified by discretionary language, shall be classified as a discretionary interest and not as a support interest.

South Dakota § 55-1-39 (Bifurcation of trust.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.