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If you have any questions or concerns, please use the contact information provided in this email as this inbox is not monitored for replies.
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Trusts have grown enormously in popularity since the mid-1990s as a result of the development of modern trust laws, the dramatic increase in wealth and evolving family needs and goals. Modern trust laws promote many key desires of a client’s estate planning, such as flexibility, control, tax savings, asset protection, family values, governance, succession, education and privacy.
However, when designing and structuring a client’s estate plan, these key desires may not be properly coordinated with the selection of trustees, the type of trust and the type of trust administration. The assets funding the trust are another key factor that often gets overlooked and as a family’s net worth increases, their assets can be quite diverse.
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In the United States, the top 10-12 percent of households own a large percent of illiquid assets, for example, closely held family businesses and real estate, which aren’t generally viewed as ideal assets for the typical non-modern trust. Moreover, many large institutional trustees are hired to provide full service (one stop shopping) trust administration. Many of these large institutional trustees may be reluctant to invest in anything but their own previously approved trust investment products that they’re familiar with and can easily... (continue reading)
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Modern South Dakota Directed Trusts
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For trusts that hold closely held family business interests, the South Dakota directed trust is one of the most popular types of modern trust administration structures. A South Dakota directed trust generally trifurcates the traditional trustee role into an investment committee, distribution committee and a directed administrative trustee. The latter is typically a corporate administrative trustee based in South Dakota. Generally, if the trust is properly administered... (continue reading)
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For additional information on this or any topic, please visit our website at www.sdtrustco.com or contact us at (605) 338-9170.
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- Trust accounts representing more than $140 billion in assets under administration
- Currently work with more than 115 billionaire and 360 centimillionaire clients
- No investment management products or services of any kind – purely trust administration services
- Work with all outside investment and insurance advisors of the client’s choice
- Experience with all types of liquid and illiquid assets (onshore & offshore) – including private equity
- Leader in the set-up, operation and administration of Private Family Trust Company (PFTC)
- Regulated (South Dakota) and Unregulated (Wyoming)/(Nevada)
- Highest ranked trust jurisdiction in the U.S. (#1 in all categories) by Trusts & Estates magazine (January 2022)
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Our thanks to South Dakota Trust Company
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South Dakota Trust Company LLC (SDTC) is a national boutique trust company founded by Al W. King III and Pierce H. McDowell III, and headquartered in Sioux Falls, South Dakota. Currently, SDTC has more than $135 billion in assets under administration and $82 billion under agency and currently works with over 115 billionaire and 360 centimillionaire clients who have chosen SDTC as a result of SDTC’s exceptional service, along with South Dakota’s competitive and unique trust, privacy, asset protection, income tax, and private family trust company laws.
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Upcoming Events
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August 24: 2023 Survey Results, Whittier Trust, virtual
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September 11-12: University of Cincinnati Annual Gala, Cincinnati, OH
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September 12: USI Monthly Security Call, “Protecting The Wealth Of Family Businesses In A Volatile Tax Environment”, virtual
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September 13: Brown and Streza Webinar, "Philanthropic Strategies for Successful Families", virtual
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Sign-Up For New Podcast: "Voice of Family Business on Capitol Hill" with host Pat Soldano.
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Join our growing family of podcast listeners by clicking on the links below to our new podcast, "The Voice of Family Business on Capitol," where each episode delves into the major issues facing family businesses and family business centers today. Subscribe by clicking on these links, or wherever you get your podcasts.
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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…
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As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a supporter.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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Policy and Taxation Group is the Voice for Family Offices and Successful Individuals in Washington, DC focused exclusively on the critical tax and economic policies that impact them. Since 1995, PATG has been the leading advocacy group working to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income tax and capital gains taxes, the creation of a wealth tax, and other hostile tax policies that punish hardworking taxpayers and success.
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Policy and Taxation Group Strategic Partner
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