Bridgeford Wins “Trust Company” Award at the 2025 Miami Family Wealth Report Awards

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best-trust-company-miami-family-wealth-report-awardsBecause of our outstanding work serving families and trusted advisors in Miami, Latin America, and the Caribbean, Bridgeford Trust Company has been selected as a winner in the “Trust Company” category at the 2025 Miami Family Wealth Report Awards – a program that recognizes the most innovative and exceptional firms, teams, and individuals serving these communities.

Winners were announced on January 16, 2025, during an evening awards reception at the Penthouse at Riverside Wharf in Miami. David Warren, Co-Founder & Chairman of Bridgeford Trust Company, and Mariano Marco, Global Managing Director of Bridgeford Global, were thrilled to attend and accept our award as this recognition underscores Bridgeford’s family of companies’ commitment to delivering the power of modern trust law – including powerful asset protection, privacy, and tax planning solutions – to wealthy families across the United States and around the world.

During the judging process, the judges highlighted our dedication to independence, adaptability, and innovative fiduciary solutions, noting:

“Bridgeford’s boutique-style service model, combined with deep expertise, ensures personalized and sophisticated trust services for ultra-high-net-worth families, setting it apart in the industry.”

Reflecting on this achievement, David Warren shared:

“Built specially around a paradigm of delivering truly conflict-free, independent, and non-institutionalized fiduciary solutions to families and their advisors around the globe, we could not be more proud of this prestigious award and our amazing team across the Bridgeford family of companies.”

We are honored to receive this recognition and congratulate all the other winners celebrated at this fantastic event!

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Bridgeford to Sponsor the 43rd Annual International Tax Conference in Miami

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international-tax-conference-miamiBridgeford Trust Company is excited to sponsor the 43rd Annual International Tax Conference, hosted by the Florida Institute of CPAs and the Tax Section of The Florida Bar at the JW Marriott Miami on January 9-10, 2025. This prestigious event welcomes global CPAs, attorneys, and other professionals in the international tax arena, providing them with the critical knowledge needed to navigate the ever-changing landscape of international tax.

Mariano Marco, Global Managing Director of Bridgeford Global, will be attending the event and looks forward to connecting with you. Stop by our exhibit table to discover why South Dakota is consistently ranked among the best trust jurisdictions in the United States, offering powerful modern trust law concepts such as asset protection, privacy, and sophisticated tax planning. In addition, learn how Bridgeford Trust Company’s expansive fiduciary planning and structuring capabilities bring the power, sophistication, and stability of U.S. modern trust law to domestic and international families across the country and around the world.

As the oldest and largest independently owned South Dakota chartered trust company, Bridgeford Trust Company sets the standard for a new trust industry paradigm. Our conflict-free, personalized, and non-institutionalized approach allows us to deliver unmatched direction and control to clients and their advisors. Mariano would be happy to discuss these concepts in greater detail, including how Bridgeford Trust Company and Bridgeford Global are perfectly positioned to serve families globally as an international fiduciary provider that is big enough to matter, small enough to care.

If you’re attending the conference, don’t miss the opportunity to connect with Mariano and learn more about our innovative approach to trust planning. For questions or to arrange a meeting, contact us at (605) 224-9189 or via our contact form. We look forward to another insightful and engaging conference – see you there!

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CTA Update: Reporting Rule Back on Hold After Latest Court Decision

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CTA-Corporate-Transparency-ActIn yet another round of government and legal “ping pong” regarding the Corporate Transparency Act (CTA) and its reporting rule for beneficial ownership information (Reporting Rule), the Fifth Circuit has reversed its December 23, 2024 order, meaning the CTA and Reporting Rule are once again paused.

As we shared in our recent blog post, on December 23, 2024, the Fifth Circuit Court of Appeals granted the government’s motion to stay a preliminary injunction while the appeal on the constitutionality of the CTA and Reporting Rule continues. This ruling reinstated the CTA’s enforcement and set a January 1, 2025 deadline for existing reporting companies to file beneficial ownership information (BOI) reports, prompting the Financial Crimes Enforcement Network (FinCEN) to extend filing deadlines for most companies to January 13, 2025.

However, in an unexpected turn, the Fifth Circuit reversed its decision on December 26, 2024, effectively pausing the CTA and its Reporting Rule once again. As of now, reporting companies are not required to file BOI reports. The Fifth Circuit provided limited reasoning for the reversal, stating:

“The merits panel now has the appeal, which remains expedited, and a briefing schedule will issue forthwith. However, in order to preserve the constitutional status quo while the merits panel considers the parties’ weighty substantive arguments, that part of the motions-panel order granting the Government’s motion to stay the district court’s preliminary injunction enjoining enforcement of the CTA and the Reporting Rule is VACATED.”

In addition, FinCEN posted a response to the latest reinstatement of the national injunction, and consistent with prior postings they are saying compliance is currently allowed but not required.

“In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.”

With the latest decision, deadlines remain in flux, and further legal developments could alter the enforcement status of the CTA. An oral argument on the CTA’s constitutionality is scheduled for March 25, 2025, leaving it uncertain whether the stay will remain in effect until then. Given this uncertainty, we encourage you to consult legal counsel to understand how these changes may impact your specific situation. Additionally, it’s wise to have your beneficial ownership information prepared for filing, should the CTA and Reporting Rule be reinstated.

As this unprecedented legal saga continues to unfold, look to Bridgeford Trust Company for updates on this rapidly evolving situation. Visit our CTA Resource Page for the latest information, and if you have any questions or need assistance, please reach out to us via our contact form or by calling (605) 224-9189.

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Urgent Corporate Transparency Act Update: Reporting Rule Back in Effect

CTA-Update 12.24.24

CTA-Update 12.24.24As we shared in previous updates and summarized on Bridgeford’s CTA Resource Page, the legal landscape surrounding the Corporate Transparency Act (CTA) continues to evolve rapidly. Most recently, on December 23, 2024, the Fifth Circuit Court of Appeals granted the government’s motion to stay enforcement of the preliminary injunction that temporarily blocked the CTA and its beneficial ownership reporting rule. As a result, reporting companies not otherwise exempt from the CTA must file their beneficial ownership information reports, with FinCEN extending the deadline for most companies to January 13, 2025.

FinCEN outlines the extended reporting deadlines in its latest alert, summarized below:

  • Reporting companies created or registered prior to January 1, 2024: Deadline extended to January 13, 2025.
  • Reporting companies created or registered in the U.S. on or after September 4, 2024, with a filing deadline between December 3, 2024, and December 23, 2024: Deadline extended to January 13, 2025.
  • Reporting companies created or registered in the U.S. on or after December 3, 2024, and on or before December 23, 2024: Additional 21 days from their original filing deadline.
  • Reporting companies that qualify for disaster relief: Extended deadlines may fall beyond January 13, 2025.
  • Reporting companies created or registered in the U.S. on or after January 1, 2025: 30 days to file after receiving actual or public notice that their creation or registration is effective.
  • Additionally, certain parties, such as plaintiffs in the National Small Business United v Yellen case, remain exempt from filing at this time.

As highlighted in FinCEN’s most recent alert:

“The government continues to believe—consistent with the conclusions of the U.S. District Courts for the Eastern District of Virginia and the District of Oregon—that the CTA is constitutional. For that reason, the Department of Justice, on behalf of the Department of the Treasury, filed a Notice of Appeal on December 5, 2024 and separately sought of stay of the injunction pending that appeal with the district court and the U.S. Court of Appeals for the Fifth Circuit.”

It is important to note that there are other courts considering whether the CTA is constitutional. Therefore, the legal landscape on the CTA could quickly shift again, either from the Fifth Circuit, Supreme Court, or another federal court. We urge you to consult with counsel on how to proceed, particularly if beneficial ownership reports may need to be filed for one or more entities.

As the legal saga continues to unfold, Bridgeford Trust Company will keep you updated. Visit our CTA Resource Page for timely updates, and if you have any questions, feel free to reach out via our contact form or by calling us at (605) 224-9189.

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Heckerling 2025: Bridgeford to Sponsor Institute and Host Events

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heckerling-2025Bridgeford Trust Company is thrilled to once again sponsor the annual Heckerling Institute on Estate Planning, taking place from January 13-17, 2025, in Orlando, Florida. Each year, this event offers an invaluable opportunity to connect with industry colleagues, exchange ideas, and stay informed about the latest issues and developments for planning effectively in an unpredictable world.

If you’re attending, we invite you to join us at our exclusive events and visit our exhibit booth to discover why South Dakota continues to lead as a top-tier U.S. trust jurisdiction.

Pre-Institute Golf & Reception – January 12, 2025

Kick off Heckerling 2025 with an afternoon of golf and an evening of networking at the Waldorf Astoria Golf Club, located at 14224 Bonnet Creek Resort Lane in Orlando. Sponsored by Bridgeford Trust Company, Nelson Mullins, and Madison Insurance Group, this pre-event gathering includes:

  • Golf at the Rees Jones course: Tee-off begins at 12:30 PM.
  • Cocktail Reception: Join us afterward at 4:30 PM for food, drinks, and conversation.

Not a golfer? No problem! You’re welcome to attend just the reception. Click here to RSVP.

Bridgeford’s Fireside Chat & Reception – January 14, 2025

Join us for a dynamic conversation, hors d’oeuvres, and drinks at our Fireside Chat & Reception as we explore topics inspired by the hit HBO series Succession, focusing on the critical role of protecting the next generation from themselves during these continued uncertain times.

Stop by anytime during the event to connect with advisors and thought leaders from across the country—but don’t miss the chance to be part of this important conversation!

  • When: Tuesday, January 14 from 6:00-7:30 PM.
  • Where: Crystal G1 on the convention floor at the Orlando World Center Marriott.

This lively exchange promises to spark insights into navigating uncertainty and shaping the future of the U.S. fiduciary industry. Come ready to share your thoughts and exchange ideas. Click here to RSVP.

Visit Bridgeford at Booth 400 – January 13-17, 2025

Stop by Exhibit Booth 400 to meet our team and learn why South Dakota is consistently ranked as one of the best trust jurisdictions in the United States. While visiting, you can:

Questions?

For more information about Bridgeford’s participation at Heckerling or to arrange a meeting with our team, please contact Melissa Roberson at mroberson@bridgefordtrust.com.

We look forward to seeing you in Orlando and making Heckerling 2025 another memorable and insightful event!

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CTA Update: FinCEN’s Statement and Bridgeford’s Resource Page

CTA FinCEN Update

CTA FinCEN UpdateAs we shared in an update last week, a federal district court issued a preliminary injunction temporarily blocking enforcement of the Corporate Transparency Act (CTA) and its reporting rule. This nationwide ruling halts the requirement for reporting companies to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). As a result, companies subject to the CTA’s reporting requirements are now exempt from filing beneficial ownership reports until further notice.

In response, FinCEN has stated:

“In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.”

On December 5, 2024, the Department of Justice filed a Notice of Appeal on behalf of the Department of the Treasury, signaling the government’s intent to challenge the court’s decision. This legal action underscores the continued debate over the CTA, which was enacted to combat illicit financial activities but has faced challenges over its implications for confidentiality and compliance burdens.

Bridgeford Trust Company’s CTA Resource Page

The ongoing legal developments surrounding the CTA highlight the complexities of this legislation and its implications for businesses. To help advisors and clients stay informed, Bridgeford Trust Company has created a dedicated CTA Resource Page, offering timely updates and insights.

The landscape surrounding the CTA is evolving rapidly, and Bridgeford Trust Company will continue to monitor developments closely. We encourage you to explore the resources on our CTA Resource Page, and if you have any questions, feel free to reach out via our contact form or by calling us at (605) 224-9189.

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Federal Court Blocks Enforcement of CTA: Implications and Insights

cta-federal-court-ruling

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily blocking enforcement of the Corporate Transparency Act (CTA) and its reporting rule (Reporting Rule). This ruling halts the requirement for reporting companies to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), despite the looming January 1, 2025, compliance deadline for reporting companies formed prior to 2024. The injunction applies nationwide, meaning that all companies subject to the CTA’s reporting requirements are now exempt from filing beneficial ownership reports until further notice.

In its order, the Court noted:

“…the CTA is a law enforcement tool—not an instrument calibrated to protect commerce; an exercise of police power, rather than a regulation of an activity which might impair commerce among the several states. This the Commerce Clause will not tolerate.”

This statement underscores the Court’s view that the CTA oversteps constitutional limits, and while this ruling temporarily pauses compliance obligations, the final impact remains uncertain. Businesses should stay informed and proactive as the legal battle over the CTA unfolds, particularly in light of harsh penalties for non-compliance. Reporting companies should also carefully follow legal advice and continue gathering the required information. If legal advice is to suspend reporting in light of the Court’s ruling, reporting companies should still be prepared to file, at a moment’s notice, to meet the January 1, 2025, deadline if enforcement resumes after further Court action.

The CTA Defined and Debated: Insights from Bridgeford

At the South Dakota Trust Association’s 8th Annual Fall Forum in October, David Warren, Co-Founder and Chairman of Bridgeford Trust Company, delivered a presentation titled The Corporate Transparency Act is Here: Now What? Held in Deadwood, South Dakota, the event brought together trust industry leaders to examine the latest developments in legislation, trends, and compliance requirements.

David’s session explored the CTA, its sweeping reporting requirements for corporations, LLCs, and other entities, and the debate it has sparked due to its impact on privacy and administrative complexity. In his presentation, David outlined several critical aspects of the CTA:

  • Reporting Requirements, Exemptions, and Penalties: Entities must disclose beneficial ownership information to FinCEN, with harsh penalties for non-compliance, including fines and imprisonment.
  • Privacy Protections: While the CTA mandates extensive transparency, it includes privacy safeguards enforced by FinCEN to protect beneficial owners’ personal information.
  • Privacy in a Transparent World: The CTA’s impact on trust and estate planning, and how individuals and entities might need to restructure their trusts and holding companies to maintain privacy and asset protection.

Even as the CTA faces legal uncertainties, it challenges traditional notions of confidentiality, making it critical to understand and prepare for its potential implications. During the presentation, David emphasizes the need for proactive compliance and innovative strategies to adapt to this new transparency regime, highlighting how South Dakota’s trust laws, including Directed Trusts and robust privacy provisions, provide effective solutions to these challenges.

Watch the Full Presentation

If you missed the Fall Forum or want to explore the CTA’s implications in more detail, you can now watch David’s full presentation on Bridgeford’s YouTube Channel.



We will continue to follow the rollout of the CTA and its evolving challenges. To help advisors and clients stay informed, Bridgeford Trust Company has created a dedicated CTA Resource Page, offering timely updates and insights.

If you have questions about the CTA, its impact on trust planning, or compliance strategies, we encourage you to contact us via our contact page or by calling (605) 224-9189.

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Podcast Episode 45 – Business Lifecycle Strategies and Tax Insights with Lisa Clifford and Jeff Getty

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Episode 45 is available on Bridgeford Trust Company’s Delivering Direction and Control podcast series! Don’t forget, you can now also watch new episodes on our YouTube channel, offering a dynamic way to experience the engaging discussions.

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – reconnects with Callan Family Office, speaking with Lisa Clifford and Jeff Getty, Co-Managing Directors of the company’s Business & Transaction Advisory Practice. Following Callan Family Office’s first podcast appearance, which introduced the company’s unique approach to investment management and philanthropy, this episode explores the intricacies of Lisa and Jeff’s specialized practice and the strategies they use to guide business owners through pivotal transitions.

Listen in as Lisa and Jeff share their journey to Callan Family Office, explaining why they transitioned their practice and how it has flourished since. They discuss their focus on guiding business owners through various stages of the company lifecycle with tailored planning to achieve optimal tax outcomes during pre-sale, sale, and post-sale phases. Their “Tax Trilogy” framework addresses income, state, and transfer tax considerations while leveraging strategies like NIMCRUTs, CLATs, and INGs.

Beyond technical strategies, Lisa and Jeff highlight the “soft side” of their practice, emphasizing the value of building strong client relationships and meeting them where they are in their journey. As the episode concludes, they offer practical advice on when business owners should engage advisors like themselves to ensure a successful exit strategy.

You can listen to our latest episode on Bridgeford’s podcast page, Apple Podcasts, iHeartRadio, Spotify, and SoundCloud – or watch it on our YouTube channel.

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.

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Watch Now: Well-Settled Trusts in Unsettled Times – Bridgeford Philadelphia Launch

well-settled trusts bridgeford philadelphia

On November 13, Bridgeford Trust Company proudly celebrated the launch of Bridgeford Philadelphia, our sister company’s newest office, located at 1601 Market Street. This exciting milestone featured a highly engaging panel discussion, “Well-Settled Trusts in Unsettled Times,” with industry leaders from Bridgeford Trust Company, Morgan Lewis, and McKonly & Asbury.

For those unable to attend, we invite you to watch a recording of this compelling discussion. The panel – featuring David Warren (Bridgeford Trust Company), Christina Mesires Fournaris and Daniel Cooper (Morgan Lewis), and Michael Bonventure (McKonly & Asbury) – explored timely topics such as geopolitical unrest, potential changes to U.S. tax law, and economic uncertainty. Key insights included:



The launch of Bridgeford Philadelphia is a testament to our continued commitment to deliver innovative, conflict-free trust solutions nationwide and beyond. We are excited to expand our presence in the Northeast, delivering more personalized service to families and advisors across Pennsylvania and the surrounding regions.

If you have questions about any of the topics discussed in the presentation or want to learn more about Bridgeford’s expansion into Philadelphia, please reach out to us via our contact form or call us at (605) 224-9189.

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Trust Jurisdiction Matters: Tax Planning Insights with Bridgeford on LumiQ

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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.

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