South Dakota Codified Laws 55-16-14. Multiple qualified dispositions in same trust instrument
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If more than one qualified disposition is made by means of the same trust instrument:
(1) The making of a subsequent qualified disposition shall be disregarded in determining whether a creditor’s claim with respect to a prior qualified disposition is extinguished as provided in § 55-16-10; and
Terms Used In South Dakota Codified Laws 55-16-14
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
(2) Any distribution to a beneficiary is deemed to have been made from the latest such qualified disposition.
Source: SL 2005, ch 261, § 14.