Title 55, FIDUCIARIES AND TRUSTS

For purposes of § 55-17-12 , the term, bona fide purchaser, means a purchaser of property for value who has not knowingly been a party to fraud or illegality affecting the interest of the spouses or other parties to the transaction, does not have notice of an adverse claim by a s…

A South Dakota special spousal trust executed during marriage is not enforceable if the spouse against whom enforcement is sought proves that: (1) The trust was unconscionable when made; (2) The spouse against whom enforcement is sought did not execute the South Dakota special sp…

A South Dakota special spousal trust shall contain the following language in capital letters at the beginning of the trust: THE CONSEQUENCES OF THIS TRUST MAY BE VERY EXTENSIVE, INCLUDING YOUR RIGHTS WITH RESPECT TO CREDITORS AND OTHER THIRD PARTIES, AND YOUR RIGHTS WITH YOUR SPO…

Spouses may classify all or any of their property as special spousal property by transferring property to a South Dakota special spousal trust established pursuant to this chapter, and by expressly declaring in the trust that the property is community property. Unless there is a …

A South Dakota special spousal trust may not be amended or revoked unless the trust agreement provides for amendment or revocation, or unless the trust agreement is amended or revoked by a later South Dakota special spousal trust. To amend or revoke the trust, the later South Dak…

For purposes of the application of 26 U.S.C. § 1014(b)(6) (January 1, 2026), a South Dakota special spousal trust is a trust established under the community property laws of this state, as set forth in this chapter. For purposes of this chapter, "special spousal property" means c…

A transfer to a South Dakota special spousal trust may also be a qualified disposition in trust if the transfer complies with the provisions of chapter 55-16 . Source: SL 2016, ch 231 , § 34.

In addition to other transfers of property to a South Dakota special spousal trust, property is considered transferred to a South Dakota special spousal trust if the property is subject to a nonprobate transfer on death under an insurance policy, contract of employment, bond, mor…

The trustee of a South Dakota special spousal trust shall maintain records that identify which property held by the trust is South Dakota special spousal property and which property held by the trust is not South Dakota special spousal property. Source: SL 2016, ch 231 , § 36.

Except as provided in §§ 55-17-10 and 55-17-11 , in a South Dakota special spousal trust, spouses may agree on: (1) The rights and obligations in the property transferred to the trust, notwithstanding when and where the property is acquired or located; (2) The management and cont…