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§ 55-1-39 Bifurcation of trust.

SD Codified L § 55-1-39 (2019) (N/A)
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55-1-39. Bifurcation of trust. To the extent a trust contains any combination of a mandatory provision, a support provision, the trust shall be bifurcated as follows:

(1) The trust shall be a mandatory interest only to the extent of the mandatory language;

(2) The trust shall be a support interest only to the extent of such support language;

(3) The remaining trust property shall be held as a discretionary interest;

(4) A support interest that includes mandatory language such as "shall" but is subsequently qualified by discretionary language, shall be classified as a discretionary interest and not as a support interest.Source: SL 2007, ch 280, § 16.

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