South Dakota § 55-16-14 Multiple qualified dispositions in same trust instrument.

South Dakota Statutes

§ 55-16-14 — Multiple qualified dispositions in same trust instrument.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-14A QUALIFIED DISPOSITIONS IN TRUST

If more than one qualified disposition is made by means of the same trust instrument:

(1)The making of a subsequent qualified disposition shall be disregarded in determining whether a creditor's claim with respect to a prior qualified disposition is extinguished as provided in § 55-16-10 ; and (2) Any distribution to a beneficiary is deemed to have been made from the latest such qualified disposition.

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If more than one qualified disposition is made by means of the same trust instrument: (1) The making of a subsequent qualified disposition shall be disregarded in determining whether a creditor's claim with respect to a prior qualified disposition is extinguished as provided in § 55-16-10 ; and (2) Any distribution to a beneficiary is deemed to have been made from the latest such qualified disposition.

South Dakota § 55-16-14 (Multiple qualified dispositions in same trust instrument.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.