Privacy has always been of paramount concern to wealthy families and is one of the primary reasons why billions of dollars have been and are being moved into South Dakota for trust administration from around the globe. Most states do not have provisions or laws protecting trust information from being revealed to beneficiaries or to the public during litigation. Furthermore, the few trust privacy laws in existence in the United States are not “created equally”, making it vitally important for clients and their advisors to understand which state trust jurisdiction offers the best and most powerful privacy protection. For the reasons outlined below, South Dakota clearly has the most robust privacy provisions in the nation rendering that state the trust jurisdiction of choice for wealthy families from all over the world. Read more
Decanting has emerged as a very compelling planning option for advisors across the nation. Appropriately referred to as a “do over”, decanting is essentially distributing assets from an irrevocable trust into a new trust with different, and presumably more desirable and flexible, terms leaving the unwanted terms in the original trust and not binding on the assets. Read more
South Dakota, for the 3rd consecutive year in a row, is again ranked as being the top Dynasty Trust State in the nation while Delaware slips to the seventh position behind Ohio and Wyoming. A Dynasty Trust, not available in all states, is a powerful planning tool that essentially allows a trust to live in perpetuity (forever), therefore never subjecting the assets to federal estate taxations through a forced distribution. South Dakota was the first state in the nation to abolish the Rule Against Perpetuities in 1983, clearing the way for the creation of the Dynasty Trust.
This webinar entitled “Not Your Grandfather’s Corporate Trustee: Modern Trust Laws and the Resurgence of the Corporate Trustee” was originally produced on November 18, 2014. We hope you enjoy the full recording and additional materials below. This webinar was hosted by David Warren, President and CEO with Bridgeford Trust Company, and Tyler Wenger from McKonly & Asbury.
David Warren, President and CEO of Bridgeford Trust Company, will be presenting at McKonly & Asbury’s Alumni and Friends CPE/CLE networking event on Wednesday, November 5. The presentation, entitled “Modern Trust Laws: Are Irrevocable Trusts Really Irrevocable?”, will exam innovative modern trust laws such as directed trusts, trust protectors, and decanting and the vital importance of selecting the proper trust jurisdiction in the wealth planning process. The event will feature a time of networking and presentations followed by a reception with CPAs, attorneys, and business leaders from around the region. This event will offer two free CLE credits.
Bridgeford Trust Company will partner with McKonly & Asbury as a featured guest on their upcoming November webinar entitled “Not Your Grandfather’s Corporate Trustee: Modern Trust Laws and the Resurgence of the Corporate Trustee”. The webinar will take place on Tuesday, November 18, 2014.
David Warren, President and CEO of Bridgeford Trust Company, is teaming up with the regional CPA firm of McKonly & Asbury and Aaron Jackson, a shareholder with the law firm of Buchanan Ingersoll & Rooney, to present a timely and informational seminar for National Business Institute called “An Accountant’s Guide to Grantor Trusts.” The program will provide 6.5 CLE credits for attorneys and 8 CPE credits for accountants and will cover important and quickly evolving topics such as: The Use of Alternative Trust Jurisdictions in the Wealth Planning Process, Asset Protection Trusts, and Grantor Trust Tax Reporting.
Bridgeford Trust Company sponsored and presented at McKonly & Asbury’s very successful Collaborate 2014 Conference on May 21 at the Hershey Lodge. This second annual conference focused on timely and relevant business, planning, and tax issues facing business owners and leaders from across the Central PA region.
David Warren, President and CEO of Bridgeford Trust Company, co-presented with Dan Matarrese, CPA and Tax Senior Manager with McKonly & Asbury, a very informative session entitled “A Comprehensive Look at the Wealth Transfer, Protection, and Enhancement Benefits of a South Dakota Trust”. Read more
Bridgeford Trust Company partnered with McKonly & Asbury as a featured guest on their recent webinar entitled “How to Sell Your Business, Part 2: Issues to Consider During and After the Close”.
This webinar was originally produced on June 18, 2014 and was hosted by Kurt Trimarchi with McKonly & Asbury along with featured guests Bob McCormack and Katie Smarilli from Murphy McCormack Capital Advisors and David Warren from Bridgeford Trust Company. This webinar addressed the three keys to success during the selling and post closing process: Calculation, Control, and Communication. Read more
The chart below, produced by Bridgeford Trust Company, presents a very clear comparison of important factors that should be considered when comparing South Dakota, Delaware, and Pennsylvania as a potential trust jurisdiction. These factors are particularly important for planners to consider when determining the most robust dynasty trust state, the most compelling asset protection statute and privacy provisions, as well as the state with the most advantageous tax treatment for clients. The chart again accentuates the vital importance of considering alternative trust jurisdictions in the wealth and trust planning process to ensure that clients are availing themselves of the most progressive trust laws in the country.
Click on the image below to view the chart in a larger, PDF format.
For more information about the importance of considering alternative trust jurisdictions in the planning process and the power of South Dakota law, please feel free to contact us via our contact page.