PAM Awards 2025

Bridgeford Trust Company is proud to announce that we have been named “Best Fiduciary/Trustee Service” at the 2025 Private Asset Management (PAM) Awards!

For more than two decades, the PAM Awards have celebrated the “best of the best” in private wealth management, recognizing the achievements of top-performing industry professionals, wealth advisors, legal firms, consultants, and service providers. The rigorous and independent judging process ensures that this award represents a true seal of approval from the private wealth community itself. The winners of this year’s awards were unveiled in New York City on February 5, and we were honored to be recognized among such outstanding peers.

This achievement comes on the heels of another exciting milestone as Bridgeford Trust Company was also named the winner in the “Trust Company” category at the 2025 Miami Family Wealth Report Awards. These consecutive wins highlight our dedication to redefining independence in the trust industry. In an industry that continues to consolidate, we take pride in being “Big Enough to Matter, Small Enough to Care,” leading with a fiercely independent spirit and a deep passion for the power of modern trust law. Through a conflict-free, personalized, and non-institutionalized approach, we provide domestic and international families with the flexibility, creativity, and client-first focus they expect and deserve.

As we celebrate this recognition, David Warren, Co-Founder & Chairman, shares:

“At Bridgeford, since inception we have believed that true independence, combined with the power of modern trust law, creates the best possible solutions for families and their advisors. Our conflict-free structure, combined with South Dakota’s powerful trust laws, empowers us to offer sophisticated, flexible solutions that put clients first. These awards are a testament to our commitment to providing a non-institutionalized, client-centric approach in a quickly evolving industry, and we are truly honored.”

We are incredibly grateful for this recognition and extend our congratulations to all the other winners who were celebrated!

STEP-OC-2025

Bridgeford Trust Company is proud to once again be the title sponsor of STEP Orange County’s 13th Annual Institute on Tax, Estate Planning, and the World Economy, taking place on February 11-12, 2025, at the Balboa Bay Club in Newport Beach, California. This conference brings together experts and professionals from around the globe to dive into the latest in estate planning, tax strategies, and asset protection.

David Warren, Co-Founder and Chairman of Bridgeford Trust Company, will be attending and speaking at this year’s event. On Tuesday, February 11, from 2:20-3:10pm, David will join Brian Steadman, Partner at Solomon Dwiggins Freer & Steadman, LTD., for a session exploring how South Dakota and Nevada compare as top-tier U.S. trust jurisdictions.

If you’re attending this year, be sure to stop by Bridgeford’s exhibit table or contact us so we can connect at the event, or grab a drink or dinner together! If you won’t be at the conference but will be in the area, please reach out to Bridgeford Advisors’ California office to arrange a meeting for another time!

The Power of U.S. Trusts for International Families and the South Dakota Advantage

As global families seek greater control, privacy, and tax efficiency, the U.S. and particularly South Dakota, continues to be a jurisdiction of choice when selecting the best U.S. trust situs. South Dakota’s progressive trust laws provide:

David looks forward to engaging with attendees on these and other important trust planning topics. We encourage you to ask any questions you have and learn how Bridgeford offers domestic and international families a conflict-free, personalized, and non-institutionalized approach, embracing a new trust industry paradigm.

For questions or to arrange a meeting, contact us at (605) 224-9189 or via our contact form. We hope to see you in California!

bridgeford-podcast

Episode 46 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 WarrenCo-Founder and Chairman of Bridgeford Trust Company – talks with Ralph Adamo – President & CEO of Integrity Wealth Management – about his role and impressive work as the founder of Orange County’s Chapter of Advisors in Philanthropy and board member of The International Association of Advisors in Philanthropy, where he helped create a platform to help financial professionals engage in meaningful conversations with clients about philanthropy, addressing the often-underserved needs of those looking to leverage philanthropic tax codes in Southern California and across the nation.

Continuing to explore Ralph’s passion for developing meaningful and impactful dialogue around overall financial planning for families, the conversation then turns to Ralph’s proprietary WealthTrac™ FORMula, designed to provide clients with a collective experience and creative strategies to achieve lifelong financial goals. He emphasizes the importance of expanding knowledge beyond traditional strengths to become a trusted, first-call advisor. Building on this philosophy, Ralph authored Integrity @ Work, a roadmap for selecting the right financial advisor and the right advisory firm—using the integrity process to pinpoint true north.

Ralph also highlights how the principles of integrity shape leadership, client trust, and long-term success—a theme reflected in his podcast, The Power of Integrity. His philosophy compliments and aligns closely with Bridgeford’s commitment to providing independent, conflict-free solutions that that resonate deeply with families seeking clarity and confidence in their financial planning.

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

CTA-Corporate-Transparency-Act

In yet another turn of events regarding the Corporate Transparency Act (CTA), on January 23, 2025, the U.S. Supreme Court removed the stay and effectively eliminated the nationwide injunction on the CTA, allowing the government to reinstate enforcement of the CTA and its Beneficial Ownership Information (BOI) reporting requirements.

As of January 24, 2025, FinCEN will accept a voluntarily submitted BOI report, but reporting is not required due to the other pending litigation (Smith v. U.S. Department of the Treasury). In its January 24 update, FinCEN states:

“Reporting companies also are not subject to liability if they fail to file this information while the Smith order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.”

Regardless of the January 23 ruling, the Supreme Court’s decision does not address the underlying case, which is still under appeal in the Fifth Circuit. Oral arguments for the expedited appeal in Texas Top Cop Shop remain scheduled for March 25, 2025.

Key Takeaways for Reporting Companies

  • No Mandatory BOI Reporting: FinCEN has stated BOI reporting is not required at this time.
  • Decide on Your Action: The back-and-forth and having to monitor can be time consuming and the BOI reporting requirements may become enforceable again. You should discuss with your legal team and decide whether you want to file your BOI report. 

As we’ve seen, the legal landscape on the CTA could quickly shift again. As we wait to hear guidance on a new deadline, we strongly encourage you to consult with counsel on the best course of action, especially if you want beneficial ownership reports to be filed for one or more entities.

We’ll continue to monitor this latest announcement and the deadlines that will follow. 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.

succession-wealth-planning

The wealth planning industry recently has been under scrutiny, often negatively and unfairly portrayed for its work with high-net-worth families across the globe. This perception, amplified by massive data leaks such as the “Pandora Papers” and the “Panama Papers,” has prompted certain media outlets to cast legal and highly sophisticated planning work done for families in an undeservedly nefarious light. Too often, prudent tax planning is mischaracterized as tax evasion, privacy labeled as secrecy, and asset protection as unethical—despite the fact that these strategies are designed and carefully executed under the laws of progressive and highly regulated U.S. trust jurisdictions.

Very much to the contrary, the work done in the wealth planning industry for families of extreme wealth is both virtuous and vital. When properly and legally implemented, planners safeguard legacies and ensure that wealth is preserved and protected across multiple generations—indeed protecting families of wealth from themselves—addressing the complexities of preserving wealth and family harmony amid extreme affluence and intergenerational dynamics.

HBO’s hit series Succession offers a compelling lens into what can go wrong when these complexities and challenges go unaddressed and highlights the critical need for strategic trust planning, modern trust laws, and effective family governance among ultra-high-net-worth families.

The Roy Family: A Cautionary Tale

Reportedly inspired in part by the life of media mogul Rupert Murdoch, Succession provides a dramatized but cautionary illustration of the pitfalls families with substantial wealth often face—and why protecting the next generation from themselves is critical. The fictional Roy family, led by patriarch and first-generation wealth creator Logan Roy, built a global media empire worth billions. Yet their story is one of dysfunction, characterized by power and control struggles, wealth preservation and asset protection challenges, and personal crises, particularly among the second generation of siblings.

While the show’s drama is exaggerated for entertainment, the challenges depicted are sadly all too real for ultra-high-net-worth families, with issues often rooted in:

  • Lack of clear and proper trust or succession planning, creating intense rivalry and family conflict among second and subsequent generations.
  • Inadequate preparation of the next generation for the responsibility of running a business and handling extreme wealth.
  • Absence of clear governance and communication structures.

Safeguarding Wealth and Family Harmony: The Role of Modern Trust Law and Situs Selection

Modern trust laws, particularly in top-tier trust jurisdictions like South Dakota, offer powerful planning tools to address the very challenges that plagued the Roy family. These tools keep control with trusted family advisors and are designed to protect next and subsequent generations from themselves while fostering harmonious family relations and multigenerational wealth preservation.  By placing a family-owned business and wealth into a well-settled trust, first-generation wealth creators can:

  • Designate specific heirs to inherit wealth and business operations over multiple generations.
  • Reduce state and federal tax liabilities.
  • Obtain privacy and confidentiality.
  • Achieve asset protection.
  • Maintain direction and control over trust assets.
  • Educate and prepare next and future generations.

All of this can be achieved by leveraging the sophistication of South Dakota’s progressive and cutting-edge trust laws, as they provide innovative and effective solutions for families through:

  • Dynasty Trusts: The cornerstone of multigenerational wealth preservation, empowering families to avoid estate taxation and establish enduring legacies.
  • Privacy and Confidentiality: How privacy laws like South Dakota’s can shield family wealth from unnecessary disclosure, enabling discretion and reducing conflict.
  • Domestic Asset Protection Trusts: Safeguarding family wealth from external threats, lawsuits, and intra-family disputes.
  • Directed Trusts: A revolutionary model that unbundles asset management and trust administration functions, ensuring settlors and advisors maintain control over aspects of trust administration and wealth transfer.
  • Family Governance: Critical to ensuring that wealth serves as a tool for empowerment rather than a source of division.
  • Private Trust Company: A tailored approach for families managing complex assets to preserve wealth, plan for succession, and maintain control over their wealth.

Beyond Succession: Lessons Learned

While Succession is great entertainment, the lessons learned serve as a stark reminder of the perils facing families with extreme wealth. Too often, destructive human tendencies—greed, rivalry, jealousy—are exacerbated by poor planning and a lack of communication, destroying ultra-high-net-worth families and individual family members over generations.

However, next and subsequent generations can be well protected from themselves and avoid disruptive family dysfunction by simply selecting the proper trust jurisdiction, such as South Dakota, engaging powerful modern trust laws, and participating in effective family governance strategies, which will be explored in greater detail through subsequent publications this year.

If you have any questions or are looking for further information on any of the tools and strategies discussed, please reach out to us via our contact form or call us at (605) 224-9189.

best-trust-company-miami-family-wealth-report-awards

Because 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!

international-tax-conference

Bridgeford 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 protectionprivacy, 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!

CTA-Corporate-Transparency-Act

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.

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.

heckerling-2025

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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