South Dakota trust law: Rated Top Location

South Dakota trust law focus on innovation and leadership continues yet again.  Annually, Trusts  & Estate Magazine reviewed trust jurisdictions around the country.  Furthermore, their objective measurements reviewed the following factors: (1) Rule Against Perpetuities; (2) “21st Century” trust laws enacted such as decanting, directed trust, and privacy; and (3) Asset Protection levels; (4) No State income and inheritance taxes; and (5) Legal rights of a beneficiaries interest in a trust.

Most practitioners have known Delaware trust laws to be the innovator and leader.  Times are changing.  The recent article by Trusts & Estate Magazine on “Which Trust Situs is Best in 2018”  highlights areas where Delaware trust law needs to catch up with other leading trust states.  Specifically, their asset protection laws, as noted by the article authors, need strengthening.  True to its mid-western roots, South Dakota trust law has consistently and quietly provided value-added trust statutes for beneficiaries.

Practitioners, financial advisors, and clients have choices for picking the best trust laws for their needs.  The difference between a top trust jurisdiction, such as South Dakota trust law, and the lower tiers states are very wide.   Nevertheless, everyone should become aware of the key areas of these differences.  With this in mind, a few key differences center around directed trusts, asset protection, and dynastic trust features.  Click here to read the article on “Which Trust Situs is Best in 2018.”

Independent analysis by legal commentators such as Steve Oshins provides additional data that South Dakota trust law has the top ranking for dynastic laws and decanting statutes in the nation.  The authors of the article from Trust & Estate Magazine, agree with Mr. Oshins of the leadership stemming from South Dakota trust law.

Equally important, please watch out for article series on South Dakota trust law.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Post

How a Bank Trustee understands Millennials

A bank trustee works with clients from the WWII to millennial generations.  They generally each have a unique set of …
Read More

Trust Fund Industry Roadmap for Advisors

Advisors have the option to use a trust fund company that does not compete against them. There will be an …
Read More

Trust Distribution Requests – Now Digital

Asking for money from a corporate trustee usually becomes an unhappy experience. It does not have to be. Everybody has …
Read More

Loading...

Pin It on Pinterest