Best Trust Jurisdiction
Which state is the best United States trust jurisdiction continues to be a hot topic of debate for advisors around the country and the world. Most academics, commentators, and industry reports generally find South Dakota, Nevada, Alaska, and Delaware to be the “top tier” United States trust jurisdictions.
However, as outlined in a recent article and demonstrated by a well-researched chart comparing the leading United States trust jurisdictions published by Bridgeford Trust, there are specific areas in trust law where South Dakota excels, clearly rendering that state the jurisdiction of choice relative to trust situs. Dynasty Trusts, favorable State Income Taxation, Community Property Trusts, Privacy, Decanting, and the lowest Insurance Premium Tax in the nation are all areas where South Dakota’s laws are superior to those of other top tier jurisdictions, providing advisors powerful tools with respect to wealth planning for high net worth families across multiple generations.
Watch the video below for a discussion around how these factors combine to make South Dakota the top United States trust jurisdiction.