LegalFix
Sign In

§ 55-3-28 Terms of trust may be reformed by court.

SD Codified L § 55-3-28 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

55-3-28. Terms of trust may be reformed by court. On petition by a trustee or beneficiary, the court may reform the terms of the trust, based upon a showing by the preponderance of the evidence and without any preliminary showing of an ambiguity, to conform to the trustor's intention if the failure to conform was due to a mistake of fact or law and the trustor's intent can be established. The terms of the trust may be construed or modified, in a manner that does not violate the trustor's probable intention, to achieve the trustor's tax objectives.

Source: SL 1998, ch 282, § 6; SL 2016, ch 231, § 22.

Previous Section
§ 55-3-27 Termination of noncharitable trusts valued under one hundred fifty thousand dollars--Distribution of property.
Next Section
§ 55-3-29 Trustee may combine or divide trusts--Rights of beneficiaries--Trust purposes--Petition to court.