If the individual, the individual's spouse, or someone, including a court or administrative body, authorized to act on behalf of the individual or the individual's spouse has the legal power to dissolve the trust or invade the principal and use the proceeds, the principal of the trust is considered a resource.

Cross-References:

Consideration of revocable and irrevocable trusts, § 67:46:05:32.02.

Trusts excepted from consideration as a resource, § 67:46:05:32.03.

Income from trust, § 67:46:04:16.

Source: 2 SDR 74, effective May 13, 1976; 5 SDR 109, effective July 1, 1979; 7 SDR 23, effective September 18, 1980; 7 SDR 66, 7 SDR 89, effective July 1, 1981; 17 SDR 187, effective June 3, 1991; transferred from § 67:16:20:18, effective August 23, 1992; 20 SDR 170, effective April 21, 1994; 21 SDR 162, effective March 23, 1995.

General Authority: SDCL 28-6-1.

Law Implemented: SDCL 28-6-1.