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Bridgeford Trust Company recently teamed up with LumiQ – a podcast platform featuring engaging conversations with business leaders and providing verified CPE to professionals nationwide. The episode “Jurisdiction Matters! Tax Planning with Modern Trust Law” is now live on LumiQ and explores how choosing the right jurisdiction for your trust is more critical than ever for tax efficiency and legal protection.

In this episode, David Warren, Co-Founder and Chairman of Bridgeford Trust Company, shares his expertise on the importance of trust jurisdiction selection in wealth management. He delves into case law, trust structures, and the top jurisdictions for setting up trusts.

Key topics include:

  • The significance of trust jurisdiction from a tax planning perspective.
  • Key court cases influencing trust law and taxation.
  • Various trust structures and their tax benefits.
  • The role of trust companies in managing trust jurisdictions.

Tune in to gain valuable insights and discover why trust jurisdiction selection matters now more than ever. Listen here to the episode on LumiQ. And if you’re new to LumiQ, be sure to take advantage of our free trial link to get 5 credits – perfect for catching this episode and exploring a few others!

For any questions about the topics discussed, don’t hesitate to reach out to us via our contact page or by calling (605) 224-9189.

Bridgeford Trust Company is proud and excited to announce the launch of Bridgeford Philadelphia, a new office established by our sister company, Bridgeford Advisors (dba Bridgeford). To celebrate this exciting expansion, we invite you to join us for our launch event on November 13, featuring an engaging panel discussion and networking reception. See below for registration details.

Operating as a trust planning advisory firm, Bridgeford engages Bridgeford Trust Company, other sister companies, and strategic service partners to bring the power of U.S. modern trust law and South Dakota-based fiduciary solutions, including state and federal tax planning and asset protection, to families and their advisors.

This expansion represents another significant milestone in our mission to provide conflict-free and innovative trust and fiduciary services across the country and around the world. Located at 1601 Market Street in the heart of Philadelphia’s financial district, Bridgeford’s new office allows us to further enhance our presence in the Northeast, offering more personalized service to clients and their advisors in Pennsylvania and beyond.

Following the successful expansion of Bridgeford Miami in 2020 and Bridgeford California in 2023, we have rapidly extended our presence, meeting with distinguished professionals and forming invaluable connections along the way. The launch of Bridgeford Philadelphia continues this momentum, positioning us to meet the growing demand for sophisticated trust solutions and personalized service in yet another key market.

Watch this video from David Warren, Co-Founder and Chairman of Bridgeford Trust Company and President and CEO of Bridgeford Advisors, for more information on this exciting new chapter for Bridgeford.

Bridgeford Philadelphia: Launch Event

We invite you to join us for Bridgeford Philadelphia’s Launch Event on November 13! This event features an engaging panel discussion with industry leaders from Bridgeford, Morgan Lewis, and McKonly & Asbury who bring deep expertise in trust law, tax strategies, and wealth management.

  • Date: Wednesday, November 13, 2024
  • Location: The Union League of Philadelphia (140 South Broad Street, Philadelphia, PA 19102)
  • Agenda: 4:30-5 PM: Guest Arrival & Networking; 5-6:30 PM: Panel Discussion: Well-Settled Trusts in Unsettled Times; 6:30–8 PM: Networking Reception

As we approach the uncertainty of the upcoming election and its potential impact on U.S. tax law, along with ongoing geopolitical unrest, our panel – featuring David Warren from Bridgeford Trust Company, Christina Mesires Fournaris and Daniel Cooper from Morgan Lewis, and Michael Bonventure from McKonly & Asbury – will explore how well-settled trusts provide stability and protection during these unsettled times. Key topics include innovative trust structures and strategies for optimizing tax planning, obtaining privacy in a transparent world, and asset protection – all achievable by simply selecting the proper trust jurisdiction.

To register for this complimentary event, click here.

For more information about Bridgeford’s exciting expansion into Philadelphia or our launch event, please contact us via our contact page or call (605) 224-9189.

upcoming-events-oct-nov-2024

upcoming-events-oct-nov-2024Bridgeford Trust Company is participating in several events over the coming weeks. From coast to coast, we’ll be connecting with industry leaders and professionals at the NAEPC Advanced Estate Planning Strategies Conference, the STEP Miami Summit, and the Hawaii Tax Institute.

These conferences provide a great platform for meaningful discussions on critical issues including estate planning, regulatory changes, global market trends, and broader financial strategies. We look forward to engaging with our friends and making new connections. Keep reading for more details and reach out if you’d like to meet with our team during these events!

NAEPC Advanced Estate Planning Strategies Conference – October 20-22 in Anaheim, CA

Bridgeford Trust Company is proud to sponsor NAEPC’s 61st Annual Conference this year! This event offers estate planning professionals a unique opportunity to cultivate new multi-disciplinary relationships and collaborate on innovative ideas and trends.

David Warren, Co-Founder & Chairman, and Doug Mikkonen, Senior Vice President & Senior Trust Officer, will be attending so if you’re planning to be there, be sure to stop by booth #50 to meet with our team.

STEP Miami Summit – October 24-25 in Miami, FL

Bridgeford Trust Company will once again sponsor STEP Miami’s Annual Summit! Bridgeford has been a longstanding supporter of this prestigious event, where attendees not only stay up-to-date on the latest trends in international private client planning but also have the chance to network at various events.

David Warren and Mariano Marco, Global Managing Director of Bridgeford Global, will be attending. Stop by Bridgeford’s exhibit table to say hello and learn how we’re continuing to expand our presence in the international space, particularly Latin America, through our sister company, Bridgeford Global.

Hawaii Tax Institute – November 3-7 in Waikiki, HI

Bridgeford Trust Company is proud to return as a sponsor for the Hawaii Tax Institute’s 61st Annual Conference, one of the nation’s premier tax and wealth transfer conferences. Sponsored by the Hawaii Tax Institute Foundation and Chaminade University of Honolulu, this event offers valuable insights from a distinguished faculty of experts.

David Warren and Chris Halverson, Managing Director of Bridgeford Advisors and Bridgeford Global, will be attending and look forward to meeting you at our exhibit table. We also invite you to join us at the can’t-miss Monday night reception at Coconut Grove, which Bridgeford is proud to sponsor. If you’re interested in attending, please contact us for a personal invitation.

David will also be presenting at two sessions during the week:

For more information about these events or to arrange a meeting with our team, feel free to reach out via our contact page or call us at (605) 224-9189.

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Episode 44 is available on Bridgeford Trust Company’s Delivering Direction and Control podcast series! Now, you can also watch new episodes on our YouTube channel, adding an exciting visual element that brings the conversation to life.

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – sits down with Jonathan Williams – Partner at Summit Trail Advisors. Jon’s team specializes in working with business owners, entrepreneurs, executives, and private foundations to create tailored financial strategies, acting as an outsourced family office. Their personalized approach, combined with a sophisticated investment process, brings portfolios to life through a unique interaction that is the foundation of their boutique investment process.

Their discussion explores the shift toward independent, conflict-free solutions in wealth management nationally, comparing models like Summit Trail and Bridgeford. As privately held firms, both are free from the constraints of institutionalized domestic and international conglomerates, fulfilling their fiduciary duty and creating the opportunity to offer clients a broader range of options, including alternative situses for trust planning, investment opportunities beyond public markets, and access to asset managers outside of captive structures.

As they conclude, Jon shares insights into the current economic climate, discussing the political and geopolitical pressures facing families and the heightened anxiety around wealth protection. He also offers his refreshingly positive perspective on volatility as an asset class, the spread between implied and actual market fears, and why – despite the uncertainty – existing systems provide reasons for optimism.

You can listen to our latest episode on Bridgeford’s podcast page, Apple Podcasts, iHeartRadioSpotify, and SoundCloud – or watch it on our YouTube channel for a more engaging experience.

Bridgeford Trust Company’s Delivering Direction and Control podcast was developed to educate, challenge, and inspire listeners. As we interview experts in the trust planning arena, we keep listeners updated on developments regarding modern trust law and provide practical discussion on the powerful trust planning opportunities available to advisors around the country and the world – all in an effort to deliver far more direction and control to clients and their advisors than ever before. Check out all of our episodes here: bridgefordtrust.com/podcasts.

If you have questions on any of the topics discussed in this latest episode, don’t hesitate to reach out to us via our contact form or call us at (605) 224-9189.

Directed Trusts

Directed Trusts have transformed the trust world, changing how we build and manage trusts for the families we serve. Codified in a select few states – including South Dakota – Directed Trusts unbundle the traditionally rigid structure of asset management and trust administration, offering settlors, beneficiaries, and their advisors more direction, control, and flexibility than ever before.

As we’ve discussed in previous articles, Directed Trusts separate trustee duties into three distinct roles, allowing different parties to manage investment, distribution, and administration functions. For more information, you can review the typical modern “directed” trust structure in this piece that outlines the directed trust concept.

Now, as Directed Trusts evolve across the country, some states – such as California and Pennsylvania – are adopting their own versions of the concept. However, it’s vital to ensure these Directed Trusts function as intended.

South Dakota’s model, with its clearly defined bifurcation of asset management and trust administration, sets the standard and has inspired similar legislation in states like Florida. But California’s Directed Trust framework lacks essential provisions, such as the formal recognition of an “excluded fiduciary,” and Pennsylvania’s proposed version has significant issues as well. It is crucial to understand that just because something is called a “Directed Trust” doesn’t mean it operates as effectively as it does under South Dakota law. The concept of an excluded fiduciary is critical, as it allows trustees – like Bridgeford Trust Company – to work with any asset manager without being held liable for their actions. This is the core of what Directed Trusts offer: the ability for families to retain direction and control, while the trustee is shielded from liability for investment and distribution decisions.

To learn more, watch this short video from David Warren, Co-Founder and Chairman of Bridgeford Trust Company.

While states like California and Pennsylvania are beginning to adopt Directed Trust structures, none match the clarity and effectiveness of South Dakota, a trust jurisdiction with renowned legislation and extensive experience in managing well-settled trusts.

To learn more about how Bridgeford Trust Company leverages South Dakota’s advanced Directed Trust statute to offer a powerful solution for families and their advisors, contact us via our contact page or by calling (605) 224-9189.

As we head into a busy fall season, Bridgeford Trust Company is proud to sponsor two highly anticipated events in the coming weeks: the STEP LatAm Conference and the Newport Beach Chamber’s 2025 Economic Forecast.

These forums offer excellent opportunities to connect with industry leaders, clients, and colleagues in key regions. Additionally, we’re excited to be hosting a table at the Newport Beach event and invite you to join us if you are in the area.

Read on for event details, and don’t hesitate to reach out if you’d like to schedule a time to connect!

STEP LatAm Conference 2024: September 26-27 in Buenos Aires, Argentina

Bridgeford Trust Company is once again proud to sponsor the STEP LatAm Conference, an annual event featuring innovative presentations and discussions on the planning, structuring, and management of wealth in Latin America. The conference brings together renowned lawyers, accountants, bankers, and trust, estate, and investment advisors from across the globe.

David Warren, Co-Founder & Chairman of Bridgeford Trust Company, and Mariano Marco, Global Managing Director of Bridgeford Global, will be attending this year’s conference. If you’re planning to attend, be sure to stop by Bridgeford’s exhibit table and contact us so we can connect during the course of the event!

Newport Beach Chamber’s 2025 Economic Forecast: October 3 in Newport Beach, California

Bridgeford Trust Company is also pleased to sponsor the Newport Beach Chamber’s Economic Forecast, a premier event focused on the 2025 economy. This event is designed to provide valuable insights for budgeting, finance, real estate, and investment planning.

David Warren will also be attending this event and is looking forward to hosting a table of distinguished professionals from the region as we continue to expand our presence in California through our sister company, Bridgeford Advisors.

We have a limited number of tickets available to join David at this exclusive event, so if you’ll be in the area and would like to attend, please contact us. The event will take place from 11:00 a.m. to 1:30 p.m. at the Balboa Bay Resort in Newport Beach, with lunch and valet parking included.

For more information or questions about these upcoming events, please reach out to us via our contact page or call us at (605) 224-9189.

well-settled-trusts-podcastBridgeford Trust Company was recently featured on Evergreen Exits podcast, Exits Aren’t Endings, You’re Just Getting Started. Evergreen Exits is dedicated to supporting entrepreneurs through every stage of their business exit journey, embracing a fiduciary and independent model that empowers their team to collaborate with top-tier solution providers to deliver the best outcomes for clients.

In this episode, host Ed Barone – a seasoned Wealth Manager with expertise in business exit planning for privately held businesses and institutional asset management – interviewed David Warren, Co-Founder and Chairman of Bridgeford Trust Company. Together, they explored the unique advantages of selecting South Dakota over other top-tier trust jurisdictions and discussed the trust industry’s significant shift away from the traditional bank trust model over the past decade.

We encourage you to listen to the full episode, Well-Settled Trusts in Unsettled Times. Some of the key topics discussed include:

Bridgeford’s Inception:

Why Jurisdiction Matters:

Well-Settled Trusts in Unsettled Times:

  • Navigating Uncertainty: How political, economic, tax, and geopolitical uncertainties can guide proactive trust planning.
  • Creating Certainty: The importance of well-settled trusts for asset protection, privacy, tax planning, and dynasty/legacy planning.

If you have any questions about creating a well-settled trust in these unsettled times or any of the topics discussed in this podcast episode, don’t hesitate to reach out to us via our contact page or by calling (605) 224-9189.

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In the face of global geopolitical instability, political uncertainty in the U.S., and potential changes in the tax code, a key question arises: How should you approach planning, and how can well-settled trusts provide security in unsettled times? These challenges not only highlight the importance of proactive planning but also showcase the trust industry’s strength in leveraging modern trust law to create stability amidst uncertainty.

Establishing a well-settled trust can effectively address specific concerns. One significant area of opportunity lies in trust taxation, particularly leveraging South Dakota’s no state income tax status for substantial tax savings across generations. As we discussed in a previous article, the Spousal Lifetime Access Trust (SLAT) is an irrevocable trust created by one spouse for the benefit of the other. It offers a unique opportunity for married couples to transfer wealth, reduce estate taxes, and protect assets. South Dakota’s favorable trust laws further enhance the benefits of both Completed Gift and Incomplete Gift SLATs because of that state’s progressive approach to modern trust law.

We invite you to explore the power of SLATs in South Dakota in the video below. David Warren, Co-Founder and Chairman of Bridgeford Trust Company, provides insights into using well-settled trusts during uncertain times, with a focus on SLATs and the importance of jurisdiction selection.

Jurisdiction Matters: Why South Dakota?

South Dakota fiduciary law consistently ranks the state as one of the best U.S. trust jurisdictions for advisors and their clients worldwide. In the context of SLATs, understanding the powerful planning nuances of South Dakota is essential. Below are specific attributes that clearly distinguish South Dakota as a leading U.S. trust jurisdiction for SLATs.

  • Dynasty Trust: South Dakota, the first state in the nation to abolish the Rule against Perpetuities, created the Dynasty Trust which allows trusts to “live forever,” avoiding federal transfer taxes for generations. You can watch this video about Dynasty Trusts on Bridgeford’s YouTube channel to learn more about its history, how they work, and why South Dakota has been ranked as the top Dynasty Trust state in the nation.
  • No State Income Tax: South Dakota does not impose any form of taxation (income, dividend interest, capital gains) on these trust assets so there can be additional compelling tax savings for clients and their families.
  • Asset Protection: South Dakota’s asset protection statute has consistently been recognized as among the best and strongest in the nation. Whether a self-settled or third-party asset protection trust, this powerful protection tool allows clients to shield assets from third-party liability and lawsuits, while permitting settlors to retain some control over the trust assets and enjoy a discretionary benefit during their lifetime. With its two year “look-back” fraudulent conveyance statute, South Dakota’s provision is among the shortest in the country.
  • Privacy: South Dakota has the most robust privacy trust laws in the nation, with a total, non-discretionary seal on trust information forever, allowing for increased privacy and confidentiality protections. Most states do not have privacy statutes specific to trusts relative to keeping private information out of the public domain or who can be granted information about a trust’s existence or details. Mandated and guaranteed by law, South Dakota unequivocally has the most robust privacy law in the nation.
  • Direction and Control: Powerful trust planning tools, such as the Directed Trust and Trust Protector, allow settlors of trusts, beneficiaries, and their advisors to maintain tremendous direction and control over vital aspects of trust creation, administration, and modification, through the use of South Dakota’s powerful decanting statute, considered the best in the nation.
  • Modern Trust Law: Modern trust laws, available only in progressive trust law jurisdictions such as South Dakota, have revolutionized trust formation and administration in the United States. The availability of the Special Purpose Entity, as well as the Community Property Trust and Family Advisor (all planning tools not available in other U.S. trust jurisdictions) are just a few of South Dakota’s modern trust laws that rank that state as a top-tier trust jurisdiction.

We encourage you to view Bridgeford Trust Company’s comparison chart of the leading top-tier U.S trust jurisdictions and where they rank in terms of progressive trust topics and laws that distinguish South Dakota as the best U.S. trust jurisdiction in the overall analysis.

For more information on SLATs and how they combine with South Dakota’s modern trust laws to create a powerful planning opportunity for advisors and their clients – even in times of uncertainty – please contact us via our contact page or by calling (605) 224-9189.

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podcast-ireland-offshore-assetsEpisode 43 is now available on Bridgeford Trust Company’s Delivering Direction and Control podcast series!

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – sits down with David Hammarberg – Partner at McKonly & Asbury. David Hammarberg has been an integral part of Bridgeford’s family of companies from the start, serving as our outsourced IT Director. With his extensive expertise in information technology, cybersecurity, and overall company security, he has played a crucial role in shaping our approach to protecting sensitive data.

Listen in as they explore how data leaks, such as the Pandora Papers, and the rise of cyber threats have transformed the IT industry. Drawing on David Hammarberg’s insights, they discuss how Bridgeford has navigated these challenges, focusing on key issues like social engineering, employee training (or the lack thereof), and vendor management.

Bridgeford’s commitment to protecting client privacy is reinforced by our decision to establish our trust charter in South Dakota, a state known for its strong trust privacy laws. This episode concludes with a discussion on how Bridgeford leverages both South Dakota fiduciary law and cutting-edge cybersecurity measures. David Hammarberg shares industry best practices, the ongoing evolution of cybersecurity, and strategies for maintaining a balance between efficient business operations and robust security protocols.

You can listen to our latest episode on Bridgeford’s podcast page, Apple Podcasts, iHeartRadioSpotify, and SoundCloud.

Bridgeford Trust Company’s Delivering Direction and Control podcast was developed to educate, challenge, and inspire listeners. As we interview experts in the trust planning arena, we keep listeners updated on developments regarding modern trust law and provide practical discussion on the powerful trust planning opportunities available to advisors around the country and the world – all in an effort to deliver far more direction and control to clients and their advisors than ever before. Check out all of our episodes here: bridgefordtrust.com/podcasts.

If you have questions on any of the topics discussed in this latest episode, don’t hesitate to reach out to us via our contact form or call us at (605) 224-9189.

copper-beech-purpose-trust-podcast

copper-beech-purpose-trust-podcastDavid Warren, Co-Founder and Chairman of Bridgeford Trust Company, was recently featured on The Truth About Wealth podcast hosted by Copper Beech Financial Group – a financial planning firm who acts as a family CFO, providing family office services that focus on tax efficiency, asset protection, and family governance. This episode marks David’s second appearance on this insightful podcast hosted by John Parise, Managing Partner and Michael Parise, Chief Compliance Officer, guiding listeners through eye-opening questions to help them discover the truth about their wealth.

In this latest episode, David explores the innovative concept of a purpose trust – an underutilized yet powerful tool for estate planning that can provide asset protection, perpetuate family values, and even accommodate unique needs like cryogenics.

During the discussion, John, Michael, and David cover:

  • An introduction to the purpose trust: its definition and primary functions.
  • Real-world examples, including charitable purposes and maintaining lifelong commitments such as taking care of pets or holding a family property.
  • The benefits of purpose trusts over traditional trusts, focusing on asset protection and longevity.
  • How South Dakota’s favorable trust laws make it an ideal jurisdiction for establishing these trusts.

You can listen to this new episode by clicking here.

If you missed David’s first appearance on the podcast – How to Choose the Right Trustee – you can listen to that episode here. In the episode, David discusses the challenges of selecting the right trustee and/or trust company and highlights strategies for making better decisions for your family. The conversation covers modern trust lawasset protection, conflicts of interest in trust planning, and the importance of top-tier trust jurisdictions.

If you have any questions on purpose trusts, choosing the right trustee, or any other topics of interest, don’t hesitate to contact us via our contact page or by calling (605) 224-9189.