South Dakota Codified Laws 55-11-1. End-of-life directives–Prearranged funeral contract–Portion of money paid under contract held in trust
Before a person‘s death, the person or someone on the person’s behalf may direct the location, manner, and conditions of disposition of the person’s remains, and the arrangements for funeral goods and services to be provided upon the person’s death, and contract with another person for the purchase or rental of personal property or professional services for the final disposition of the person’s body. At least eighty–five percent of all money paid under the contract must be held in a revocable or an irrevocable trust, at the purchaser’s option. The money must be held in trust until the obligation of the contract is fulfilled according to its terms or, if a revocable trust, the money is refunded to the person who made the payments.
Terms Used In South Dakota Codified Laws 55-11-1
- Contract: A legal written agreement that becomes binding when signed.
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
Source: SL 1953, ch 496, § 1; SDC Supp 1960, § 27.1409; SL 1967, ch 104, § 1; SL 1975, ch 302, § 1; SL 1981, ch 355, § 1; SL 1986, ch 408, § 1; SL 2022, ch 113, § 11.