WHY SOUTH DAKOTA?
WE ARE OFTEN ASKED
"WHY DO I WANT A
SOUTH DAKOTA TRUST?"
We are proud to offer a variety of South Dakota trusts, and those trusts can serve many purposes to protect you and your family.
Non-South Dakota residents can open a trust in South Dakota by asking a SD resident to serve as trustee of their trust, or by hiring a South Dakota Trustee company. But why would they want to?
Here are 5 reasons why South Dakota is the right place for you to establish your trust.
NO STATE INCOME TAX
South Dakota is one of 9 states that does not have state income tax. This can result in substantial savings vs. setting up a trust in a state with state income tax.
There is a permanent seal of privacy in South Dakota for trust documents. In other states, trusts documents may be part of the record in any judicial proceeding.
TRUSTS CAN LAST INDEFINITELY
Unlike many other states, in South Dakota there is no limit on the length of time a trust can exist. In other words, a trust can last forever.
SOUTH DAKOTA ASSET PROTECTION
South Dakota has some of the most favorable asset protection laws in the country. This means that the South Dakota legislature has consistently fought to protect assets held in trust.
CREATOR (GRANTOR) HAS MORE CONTROL
South Dakota law has specifically allowed the creator (grantor) of the trust, as well as their family in some circumstances, to maintain more control over their trust.
SEE WHAT OTHER PROFESSIONALS ARE SAYING ABOUT SOUTH DAKOTA TRUSTS:
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