Section 55-1-33 - Factors which are insufficient evidence that settlor controls or is alter ego of trustee. - South-dakota Statutes

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Statutes > South-dakota > Title-55 > Chapter-01 > Statute-55-1-33

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.

State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-01 > Statute-55-1-33

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.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-01 > Statute-55-1-33

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.