Frequently Asked Questions
Yes, you do not have to live in South Dakota to create a South Dakota trust. Sterling Trustees administers trusts for clients all across the United States and in 28 countries around the world.
Sterling Trustees does not administer Special Needs Trusts specifically, but does offer a number of other trust types that can be customized to a family's unique situation.
Sterling Trustees offers a flat fee structure with minimums for directed and delegated structures. We provide a suite of services based on client needs determined at on-boarding meeting, so our fees do not fluctuate based on the market or the increased value of trust assets.
Typically, our minimum fees do not provide a significant value-add for clients with trusts under $2M.
Yes, the terms of your trust document will almost always provide for removal or replacement of the trustee. We are happy to set up a call to discuss the mechanism and process by which you can transition from your bank trustee to Sterling Trustees based on the specific language of your trust document.
No, South Dakota asset protection trusts cannot be funded with assets that are, or are anticipated to be, subject to legal action. Any transfer of assets in anticipation of divorce, lawsuit, or bankruptcy would be considered a fraudulent transfer. South Dakota's look-back period for asset transfers is among the shortest in the nation, but any intent to defraud effectively eliminates all protections provided by state law.
Yes and No. South Dakota offers the best privacy laws in the nation, but no client or trust is shielded from regulatory oversight and mandatory governmental reporting. Public access to client's private information is another matter, and South Dakota has the only automatic and perpetual seal of trust related court records.
Absolutely. As long as they are a properly vetted and accredited service provider, Sterling will work with them on your behalf.
No, Sterling Trustees will delegate to an investment advisor or money manager and oversee those third parties to ensure their performance is meeting expectations. Not managing investments is precisely what enables us to remain objective and independent from influence and commission-based profit motivation.
Yes. Moving your trust from another state is surprisingly simple and we would be happy to set up a call to discuss specific details based on the language in your trust document.
Yes. Sterling Trustees is happy to partner with your own attorney and presently works with many of the nation's top law firms. We are also happy to introduce your attorney to a South Dakota attorney to review any documents that are drafted to ensure they conform to South Dakota law.
Yes. Sterling Trustees only offers trustee services, not legal advice. As an attorney, your role is critical to the success of the client relationship. Our respective interests as attorney and independent trustee are aligned, not competing.
Yes, we administer trusts that hold everything from airplanes and racehorses to closely held business interests and real estate.
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