Grantor Sovereignty
- It's your money - you make the rules!.
- Primacy of trust instrument - grantor can provide indemnities, powers, etc. Any governing instrument providing for a trust advisor or trust protector may also provide such trust adviser or trust protector with some, none, or all the rights, powers, privileges, benefits, immunities, or authorities available to a trustee under South Dakota law or under the governing instrument.
- The settlor of any (express) trust may be provision in the instrument creating the trust if the trust was created by a writing; relieve the trustee from any or all of the duties, restrictions, and liabilities which would otherwise be imposed upon the trustee by this chapter; or alter or deny to the trustee any or all all the privileges and powers conferred upon the trustee by this chapter; or add duties, restrictions, liabilities, privileges, or powers to those imposed or granted by this chapter.
- With respoect to investment and management powers, 55-5-12 provides the provisions of this chapter may be expanded, restricted, eliminiated or otherwise altered by express provisions of the trust instrument. The trustee is not liable to a beneficiary for the trustee's reasonable and good faith reliance on those express provisions.
- The terms of a governing instrument may expans, restrict, eliminate, or otherwise vary any provisions of general application to trusts and trust administration.
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