South Dakota Is Again Considered a Top U.S. Trust Jurisdiction by Trust & Estates Magazine
Trust & Estates Magazine again names South Dakota as a top tier trust jurisdiction! Annually, Trust & Estates Magazine evaluates trust jurisdictions utilizing an objective approach that considers the following factors: 1) whether a state has a Rule Against Perpetuities; 2) whether a state has income, inheritance, or premium taxes; 3) whether the state has adopted “modern trust laws” such as decanting provisions, directed trust capability, and privacy options; 4) whether a state has an asset protection statute and the effectiveness of the statute; 5) and the effect of migration on the rights of beneficial interest.
For several years, South Dakota has been considered by many commentators and planners to be the best trust jurisdiction in the nation because of its cutting edge laws around asset protection, dynasty and directed trusts, and privacy. Trust & Estates Magazine’s ranking proves, once again, that selecting the proper trust jurisdiction is vitally important and an issue not to be ignored in the wealth planning process.
Take a look at the following article entitled “Which Trust Situs is Best in 2014?” for more information. This article was featured on WealthManagement.com which is the digital resource of Trusts & Estates Magazine and REP.
You can view the full article in PDF by clicking here.