There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-13-5 — Income earned during administration of a decedent\'s estate.
55-13-5. Income earned during administration of a decedent's estate. (a) Unless the will otherwise provides and subject to subsection (b), all expenses incurred in connection with the settlement of a decedent's estate, including debts, funeral expenses, estate taxes, interest and penalties concerning taxes, family allowances, fees of attorneys and personal representatives, and court costs shall be charged against the principal of the estate.
(b) Unless the will otherwise provides,
income from the assets of a decedent's estate after the death of
the testator and before distribution, including income from
property used to discharge liabilities, shall be determined in
accordance with the rules applicable to a trustee under this
chapter and distributed as follows:
(1) to specific legatees and devisees, the
income from the property bequeathed or devised to them
respectively, less taxes, ordinary repairs, and other expenses of
management and operation of the property, and an appropriate
portion of interest accrued since the death of the testator and of
taxes imposed on income (excluding taxes on capital gains) which
accrue during the period of administration;
(2) to all other legatees and devisees,
except legatees of pecuniary bequests not in trust, the balance of
the income, less the balance of taxes, ordinary repairs, and other
expenses of management and operation of all property from which the
estate is entitled to income, interest accrued since the death of
the testator, and taxes imposed on income (excluding taxes on
capital gains) which accrue during the period of administration, in
proportion to their respective interests in the undistributed
assets of the estate computed at times of distribution on the basis
of inventory value.
(c) Income received by a trustee under
subsection (b) shall be treated as income of the trust.
Source: SL 1984, ch 323, § 5.
Source: SL 1984, ch 323, § 5.
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