CHAPTER 55-1

CLASSIFICATION AND CREATION OF TRUSTS

55-1-1    Purposes for which trust may be created.

55-1-2    Trusts classified.

55-1-3    Express trust defined.

55-1-4    Creation of express trust--Words or acts of trustor.

55-1-5    Express trust created as to trustee--Words and acts of trustee.

55-1-5.1    Express trust need not be for exclusive benefit of beneficiaries.

55-1-6    Implied trust--Definition--Creation.

55-1-6.1    Implied trust may not prejudice rights of real property purchaser or encumbrancer.

55-1-7    Wrongful detention creates implied trust.

55-1-8    Implied trust resulting from fraud, accident or wrongful act.

55-1-9    Implied trust created by transfer of property in violation of trust.

55-1-10    Transfer of real property to one for money paid by another--Trust presumed.

55-1-11    Implied trust--Declaration by court of equity.

55-1-12    Trustor, trustee, beneficiary, power of appointment, and person defined.

55-1-13    Voluntary trustee--Assumption of relationship.

55-1-14    Interest in existing trust--Transfer by operation of law or written instrument.

55-1-15    Certain trusts not terminated upon trustor's death.

55-1-16    55-1-16 to 55-1-19. Repealed by SL 2007, ch 280, §§ 21 to 24.

55-1-20    Trusts for noncharitable purposes.

55-1-21    Trust for care of animal, care of other property, or other lawful noncharitable purpose.

55-1-21.1    Termination of trust for care of animal.

55-1-21.2    Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.

55-1-21.3    Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.

55-1-21.4    Enforcement of purpose of trust by enforcer.

55-1-21.5    Removal of enforcer.

55-1-21.6    Discretion of trustee of purpose trust.

55-1-21.7    Judicial designation of trustee--Order to carry out intent of trustor and purpose of trust.

55-1-21.8    Distribution of property upon termination of purpose of trust.

55-1-21.9    Filings, reports, accounting, separation of funds, appointment, and registration of purpose trust not required--Exceptions.

55-1-21.10    Trustee may not use principal and income other than for trust's purposes.

55-1-21.11    Co-enforcer appointment--Powers.

55-1-22    Hybrid purpose trusts valid.

55-1-22.1    Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.

55-1-22.2    Beneficiaries' share of a hybrid purpose trust.

55-1-22.3    Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.

55-1-22.4    Application of §§ 55-1-21 to .9 to hybrid purpose trust--Exceptions.

55-1-22.5    Discretion of trustee of hybrid purpose trust.

55-1-22.6    Enforcer of hybrid purpose trust.

55-1-23    55-1-23. Repealed by SL 2011, ch 212, § 41.

55-1-24    Definitions applicable to §§ 55-1-24 to 55-1-45.

55-1-24.1    Improper motive.

55-1-24.2    Withdrawal power.

55-1-25    Distinction between discretionary trust and support trust--Creditor rights--Judicial review.

55-1-26    Judicial foreclosure of beneficial interests, powers of appointment, and reserved powers prohibited--Creditors may not reach powers of appointment or remainder interests.

55-1-27    Certain remainder interests not property interests.

55-1-28    Interest of beneficiary or others not reachable by creditors.

55-1-29    Trust property not subject to personal obligations of trustee.

55-1-30    Distribution and remainder interests not relevant to division of marital property.

55-1-31    Resources of settlor's spouse to be considered in making distribution from support trust--Other beneficiary's resources need not be considered.

55-1-32    Alter ego--Pierce the veil, dominion and control claims.

55-1-33     Repealed.

55-1-34    Provision that beneficial interest in trust income or principal may not be transferred before payment to beneficiary permissible.

55-1-35    Trust declaration that beneficiary's interest subject to spendthrift trust--Payment of beneficiary expenses.

55-1-36    Satisfaction of claims of settlor's creditors from trust estate if settlor is beneficiary.

55-1-36.1    Effect on creditor claims of trustee discretionary powers to pay taxes or make reimbursements for taxes.

55-1-37    Application of spendthrift provision.

55-1-38    Classification of distribution interest.

55-1-38.1    Classification of interest as support interest.

55-1-39    Bifurcation of trust.

55-1-40    Language resulting in classification of distribution interest.

55-1-41    Effect of spendthrift provision.

55-1-42    Mandatory or support interests.

55-1-43    Discretionary interests.

55-1-44    Action for fraudulent transfer of settlor's assets--Jurisdiction--Attorneys' fees and costs--Burden of proof.

55-1-45    Limitation of action for fraudulent transfer of settlor's assets.

55-1-46    No contest clause defined--Enforceability.

55-1-47    Extrinsic evidence not admissible to establish settlor's intent concerning no contest clause.

55-1-48    Circumstances under which no contest clause unenforceable.

55-1-49    Contest regarding settlor's signature.

55-1-50    Attorneys fees and costs.

55-1-51    Applicability of §§ 55-1-46 to 55-1-50.

55-1-52    Interest on general pecuniary devises.

55-1-53    Expansion, restriction, elimination, or variance of provisions of general application.

55-1-54    Arbitration.

55-1-55    Trust enforceable although not funded or without res, corpus, or assets.

55-1-56    Registration of trust in court at principal place of administration.

55-1-57    Contents of registration statement.

55-1-58    Confidentiality of registration.

55-1-59    Trust registration form.