LegalFix
Sign In

§ 55-1-33 Factors which are insufficient evidence that settlor controls or is alter ego of trustee.

SD Codified L § 55-1-33 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

55-1-33. Factors which are insufficient evidence that settlor controls or is alter ego of trustee. Absent clear and convincing evidence, no settlor of an irrevocable trust may be deemed to be the alter ego of a trustee. The following factors by themselves or in combination are not sufficient evidence for a court to conclude that the settlor controls a trustee or is the alter ego of a trustee:

(1) Any combination of the factors listed in § 55-1-32;

(2) Isolated occurrences where the settlor has signed checks, made disbursements, or executed other documents related to the trust as a trustee, when in fact the settlor was not a trustee;

(3) Making any requests for distributions on behalf of beneficiaries;

(4) Making any requests to the trustee to hold, purchase, or sell any trust property.Source: SL 2007, ch 280, § 10.

Previous Section
§ 55-1-32 Factors which are not dominion and control over trust.
Next Section
§ 55-1-34 Provision that beneficial interest in trust income or principal may not be transferred before payment to beneficiary permissible.