South Dakota § 55-10A-5 Transfer authorized by will or trust.

South Dakota Statutes

§ 55-10A-5 — Transfer authorized by will or trust.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-10A UNIFORM TRANSFERS TO MINORS ACT

Any personal representative or trustee may make an irrevocable transfer pursuant to § 55-10A-9 , to a custodian for the benefit of a minor as authorized in the governing will or trust. If the testator or settlor has nominated a custodian under § 55-10A-3 , to receive the custodial property, the transfer must be made to that person. If the testator or settlor has not nominated a custodian under § 55-10A-3 , or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under § 55-10A-9 .

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Any personal representative or trustee may make an irrevocable transfer pursuant to § 55-10A-9 , to a custodian for the benefit of a minor as authorized in the governing will or trust. If the testator or settlor has nominated a custodian under § 55-10A-3 , to receive the custodial property, the transfer must be made to that person. If the testator or settlor has not nominated a custodian under § 55-10A-3 , or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under § 55-10A-9 .

South Dakota § 55-10A-5 (Transfer authorized by will or trust.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.