South Dakota § 55-2-14 Duty to provide information regarding revocable trust and its administration.

South Dakota Statutes

§ 55-2-14 — Duty to provide information regarding revocable trust and its administration.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-2 DUTIES AND LIABILITIES OF TRUSTEES

A trustee of a revocable trust:

(1)Subject to subdivision 3 below, shall keep the settlor reasonably informed of the trust and its administration;

(2)Unless otherwise provided in the trust instrument, does not have a duty to inform a trust beneficiary of the trust and its administration, other than the settlor or, if the trustor is an incapacitated person, the trustor's designated agent;

(3)Unless otherwise provided in the trust instrument, if the trustee obtains actual knowledge that the settlor of a revocable trust is an incapacitated person and has no designated agent, the trustee may in its sole discretion keep each interested trust beneficiary, who, if the settlor were then deceased, would be a current trust beneficiary, reasonably informed of the trust and its administrat

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

A trustee of a revocable trust: (1) Subject to subdivision 3 below, shall keep the settlor reasonably informed of the trust and its administration; (2) Unless otherwise provided in the trust instrument, does not have a duty to inform a trust beneficiary of the trust and its administration, other than the settlor or, if the trustor is an incapacitated person, the trustor's designated agent; (3) Unless otherwise provided in the trust instrument, if the trustee obtains actual knowledge that the settlor of a revocable trust is an incapacitated person and has no designated agent, the trustee may in its sole discretion keep each interested trust beneficiary, who, if the settlor were then deceased, would be a current trust beneficiary, reasonably informed of the trust and its administration. Notwithstanding the provisions of the trust instrument, upon good cause shown, the court may order the trustee to keep other beneficiaries reasonably informed of the trust and its administration.

South Dakota § 55-2-14 (Duty to provide information regarding revocable trust and its administration.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.