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South Dakota Certificate of Trust with Real Property as Part of the Corpus

Category:
Trusts - Certificates - Real Property
State:
Multi-State
Control #:
US-01183BG
Format:
Word; 
Rich Text
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Description

A certificate of trust is a shortened version of a trust that verifies the trust's existence, explains the powers given to the trustee, and identifies the successor trustee(s). A certificate of a trust agreement which conveys or contains an interest in real property must generally be recorded in the office of the county clerk where deeds are recorded and the property is located.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Asset Protection Trusts South Dakota was the first state to enact a discretionary trust statute designed to protect trust assets from creditors. This statutory protection also applies to self-settled trusts, these being trusts settled by a transferor of which the transferor is a beneficiary.

South Dakota allows for a trust to exist in perpetuity, i.e., for an unlimited duration.

Asset Protection Trusts South Dakota was the first state to enact a discretionary trust statute designed to protect trust assets from creditors. This statutory protection also applies to self-settled trusts, these being trusts settled by a transferor of which the transferor is a beneficiary.

South Dakota offers unlimited duration for Dynasty Trusts. The South Dakota statute basically codified the Murphy case allowing for unlimited duration trusts which the IRS acquiesced.

As noted, a trust can remain up and running for 21 years, but it doesn't have to. Many trusts end soon after a person's death. That's because generally if you leave beneficiaries a trust, it contains assets and property meant to go to those beneficiaries.

If you would like to create a living trust in South Dakota, you need to create a written trust agreement and sign it before a notary public. To make the trust effective, you must transfer your assets into it.

In South Dakota, there is no time limit, so a trustee will never be forced to distribute assets to a beneficiary due to time expiration. Dynasty Trusts are trusts with perpetual existence.

In South Dakota, there is no time limit, so a trustee will never be forced to distribute assets to a beneficiary due to time expiration. Dynasty Trusts are trusts with perpetual existence.

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