A South Dakota Irrevocable Trust Agreement is a legal document used to create and establish an irrevocable trust in the State of South Dakota. An irrevocable trust is a type of trust in which the granter (the person making the trust) gives up all control and ownership of the assets placed in the trust, thereby making them no longer the legal owner of the assets. The granter cannot change or revoke the trust without the consent of the beneficiary (the person who will receive the assets). The South Dakota Irrevocable Trust Agreement outlines the terms and conditions of the trust, including the purpose and duration of the trust, the granter's and beneficiary's responsibilities, the authority of the trustee (the person who manages the trust), and the management and distribution of the trust assets. This document also includes provisions for taxes, creditors, and other relevant legal matters. There are several types of South Dakota Irrevocable Trust Agreements, including charitable trusts, spendthrift trusts, and special needs trusts. Each type of trust has its own unique requirements and provisions.
South Dakota Irrevocable Trust Agreement
Description
How to fill out South Dakota Irrevocable Trust Agreement?
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