55-17-2. Required language.
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 SPOUSE BOTH DURING THE COURSE OF YOUR MARRIAGE, AT THE TIME OF A DIVORCE, AND AT THE DEATH OF YOU OR YOUR SPOUSE. ACCORDINGLY, THIS TRUST AGREEMENT SHOULD ONLY BE SIGNED AFTER CAREFUL CONSIDERATION. IF YOU HAVE ANY QUESTIONS ABOUT THIS TRUST AGREEMENT, YOU SHOULD SEEK INDEPENDENT LEGAL ADVICE.
Source: SL 2016, ch 231, ยง30.
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.