S.D. Codified Laws § 55-1-21.2

Current through the 2024 Legislative Session

Section 55-1-21.2 - Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes

A court may reasonably reduce the amount of the property transferred to the trustee of a purpose trust if the court determines that the trust corpus substantially exceeds the amount required for the intended purposes. The court should consider allowing the trust to be administered for a reasonable period of time before undertaking a determination. The amount of the reduction, if any, passes as unexpended trust property, as set forth in § 55-1-21.8.

SDCL 55-1-21.2

SL 2018, ch 275, §5.

Added by S.L. 2018, ch. 275,s. 5, eff. 7/1/2018.