On March 11, 2010, South Dakota enacted a tax fix law providing that the estate tax laws applicable on December 31, 2009, will apply to wills and trusts that refer to federal estate and generation-skipping transfer tax laws. The law applies only if the will or trust has not been modified since December 31, 2009 and does not provide a contrary intent. The law also provides 12 months for interested individuals to request a proceeding to determine if the tax laws in effect on December 31, 2009, should apply.
See also my prior post regarding a similar law enacted in Indiana.
Special thanks to Terry N. Prendergast (attorney & partner, Souix Falls, South Dakota) for bringing this to my attention.
