South Dakota-chartered trust company with broad-reaching advantages
We are a South Dakota-chartered trust company, regulated by the South Dakota Department of Banking. South Dakota, at the forefront of creating progressive trust legislation, is one of the country’s leading trust jurisdictions. That means that our company is able to help you leverage the latest and most advanced trust law available.
South Dakota trust and business laws offer many benefits
South Dakota provides for trusts with an unlimited duration. Such trusts allow for continued creditor and ex-spouse protection for beneficiaries in perpetuity. Additionally, they enable family members (and their professional advisors) to be involved in traditional roles fulfilled by the trustee through directed or delegated trusts.
- Provides for trusts with an unlimited duration. Such trusts allow for continued creditor and ex-spouse protection for beneficiaries in perpetuity.
- Enables family members (and their professional advisors) to be involved in traditional roles fulfilled by the trustee through directed or delegated trusts. Allow changes to distributions and investment portfolio construction using trust protectors, investment committees and/or distribution committees.
- Provides privacy and therefore do not require trust documents to be filed publicly. Updates or changes to a trust do not need to be filed with a South Dakota court.
- Requires no state income tax or capital gains tax.
Unique trust statutes for asset protection trusts
- South Dakota has enacted legislation which prohibits judicial foreclosure and creditor attachment on beneficial interests in trusts, powers of appointment held by beneficiaries, and reserved powers by a beneficiary. Additionally, a power of appointment in a trust is specifically excluded as a property interest.
- South Dakota is one of a handful of states in the United States that provide creditor protection for self-settled trusts. This is a type of trust into which a client transfers assets and he or she is the beneficiary. The client may retain a level of control over trustees or trust advisors, retain certain disposition rights to the trust, and the trust assets can still be protected from creditors.
- Have the lowest insurance premium tax of any state (i.e., 8 basis points or 8/100ths of 1%) and also offer other very favorable insurance legislation.
The South Dakota legislature is in session every year, allowing for more progressive action and constant oversight of trust legislation.
Learn more about how our South Dakota-chartered trust company can help you. Download valuable whitepapers.
CNBC Rankings: America’s Top 50 States for Business See why South Dakota ranks #1 in the nation (read chart)
CNBC’s Top States for Business 2013 (read article)