55-17-1. Arrangement qualifying as special spousal trust.
An arrangement is a South Dakota special spousal trust if one or both spouses in a marriage transfer property to a trust, the trust expressly declares that some or all the property transferred is South Dakota special spousal property as provided in this chapter, and at least one trustee is a qualified person. A South Dakota special spousal trust is enforceable without consideration. Both spouses or either spouse may be a trustee. The trust must be signed by both spouses. The trust may be revocable or irrevocable.
For purposes of this section, a qualified person is any person who meets the requirements of §§55-3-41 and 55-3-39, but without regard to whether that person is the transferor.
Source: SL 2016, ch 231, §29.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 17 - Special Spousal Trusts
Section 55-17-1 - Arrangement qualifying as special spousal trust.
Section 55-17-2 - Required language.
Section 55-17-3 - Classification of property--Interest of each spouse.
Section 55-17-4 - Amendment and revocation.
Section 55-17-6 - Qualified disposition in trust.
Section 55-17-7 - Types of transfers to special spousal trust.
Section 55-17-9 - Matters upon which spouses may agree.
Section 55-17-10 - Right of child to support.
Section 55-17-11 - Creditor rights--Good faith between spouses.
Section 55-17-12 - Bona fide purchasers.