Over the past 25 years, Bridgeford Trust Company has evolved from one of South Dakota’s first private trust companies into a public, fully independent, and modern trust company serving the global ultra-high-net-worth and family office space. With all trust administration and corporate governance functions executed through our two South Dakota offices, we’ve proudly expanded our Sioux Falls presence in recent years—first with a new office in 2023, followed by the addition of technical, compliance, and fiduciary expertise to support our continued domestic and international growth.

As Bridgeford Trust Company continues to grow, we’re grateful for the opportunity to remain part of Sioux Falls’ thriving community. To accommodate our expanding team, we’re moving into a larger office space, and we’re excited to celebrate this important milestone with a Ribbon Cutting Ceremony & Reception, held in partnership with the Greater Sioux Falls Area Chamber of Commerce. We look forward to welcoming local friends and colleagues to our new space for an afternoon of connection and celebration!

Event Details

• Date: Wednesday, May 21, 2025
• Time: 4:30 PM – 6:00 PM (Ribbon cutting begins at 4:30 PM, followed by a come-and-go style open house with networking and light refreshments.)
• Location: 101 W. 69th Street, Suite 201, Sioux Falls, SD 57108
• Please RSVP by clicking here.

We’re incredibly proud to continue growing in Sioux Falls and look forward to celebrating this special occasion with you! For questions or more information, feel free to contact us through our contact page or by calling (605) 224-9189.

Episode 47 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 – sits down with Tom Rogerson – President & CEO of GenLegCo. Inc. – a recognized leader in family governance. Tom shares how his approach to wealth planning emphasizes preparing families for wealth, rather than just preparing wealth for families, offering guidance on navigating financial responsibilities and ultimately protecting families of wealth from themselves.

As you listen, you’ll hear Tom discuss his “7 Steps to Healthy Family Governance”, a process designed to educate families, foster communication and leadership, and create a long-term vision for their legacy. He also emphasizes the importance of independent trust companies with strong jurisdictional advantages, like South Dakota, to ensure legacy plans remain intact for generations. This long-term approach is why Bridgeford remains fiercely independent, helping families turn estate plans into lasting legacy plans that reflect their shared values and vision.

The conversation explores Tom’s personal journey into this work, and he explains why parents may have the right message but aren’t always the right messenger—and how bringing in a third-party expert who provides objectivity, experience, and knowledge can make all the difference.

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.

In our recent article, “Protecting Families of Wealth from Themselves: Lessons from HBO’s Succession, we explored how inadequate planning and governance can lead to destructive family dynamics, eroding multigenerational wealth while disrupting harmonious family relations over generations. The Roy family’s struggles serve as a cautionary tale, highlighting the critical importance of strategic trust planning, modern trust laws, and effective family governance—ultimately, protecting families of wealth from themselves.

While the Roy family in Succession struggles with short-term power plays, nefarious activity, and sinister plotting and positioning, a Dynasty Trust provides a stable, long-term solution that removes conflict and uncertainty, ensuring wealth is preserved across multiple generations with the ability to avoid federal estate tax forever.

Dynasty Trusts and South Dakota’s Leading Role

Considered the birth of modern trust law in 1983, South Dakota was the first state to abolish the Rule Against Perpetuities, paving the way for the creation of the Dynasty Trust. A South Dakota Dynasty Trust is a powerful planning tool that preserves family wealth over generations, allowing a trust to live in perpetuity (forever), therefore never subjecting the assets to federal estate taxation through a forced distribution. Through the use of a Dynasty Trust, families can:

• Reduce the tax burden on successive generations while still providing access to assets during their lifetime.
• Implement structured control over distributions, ensuring responsible wealth management for future generations.
• Safeguard family legacies by mitigating common challenges associated with extreme wealth, such as reckless spending, mismanagement, and intra-family disputes.

At its core, a Dynasty Trust serves as the foundation upon which a family legacy is built, helping to prevent the pitfalls associated with extreme wealth. Unlike the Roy family’s drama, where inheritance and power struggles created division, a well-structured Dynasty Trust ensures orderly wealth succession while preserving family harmony.

Additional Tax Advantages in Top-Tier Jurisdictions

Beyond the benefits of a Dynasty Trust, top-tier trust jurisdictions like South Dakota offer additional tax advantages that can enhance overall wealth preservation strategies. These tax advantages include:

• No State Income Tax / Resident Trust Planning: South Dakota is one of the few states that impose no state income tax on undistributed income, allowing trust assets to grow more efficiently over multiple generations.
• Non-Grantor Trusts: Families can use completed or incomplete non-grantor trusts to avoid significant state capital gains taxation on low-cost basis assets sold in a South Dakota trust, such as a closely held business or stock.
• Community Property Trusts: A South Dakota Community Property Special Spousal Trust can provide a 100% step-up in basis upon the death of the first spouse, potentially saving millions in state capital gains taxes over multiple generations.

While the Roy family’s fictional empire is a lesson in what not to do, real-world ultra-high-net-worth families can take a different approach by leveraging South Dakota’s modern trust laws and favorable tax advantages to protect their legacies.

If you have any questions or are looking for further information on Dynasty Trusts or the additional tax advantages we discussed, please reach out to us via our contact form or call us at (605) 224-9189.

Bridgeford Trust Company is proud to sponsor STEP Global Congress 2025, taking place February 25-26 in Rome, Italy. As we navigate an era of evolving societal values and complex global challenges, this event brings together thought leaders and industry experts to engage in meaningful discussions about the future of our industry under the theme “Tomorrow’s Wealth – Reshaping the Conversation.”

David Warren, Co-Founder and Chairman of Bridgeford Trust Company, will be attending and looks forward to connecting with attendees on the challenges and opportunities ahead. As an independent, conflict-free trust company, Bridgeford Trust Company continues to embrace a new trust industry paradigm, offering domestic and international families a personalized, non-institutionalized approach while leveraging South Dakota’s powerful modern trust laws.

Trust Planning for International Families: The South Dakota Advantage

The United States continues to be the jurisdiction of choice for international families because of modern trust law planning tools available in top-tier jurisdictions such as South Dakota. At STEP Global Congress, David looks forward to discussing key planning considerations with attendees, including:

• Choosing the best U.S. trust jurisdiction, and understanding how South Dakota compares to other top-tier trust jurisdictions.
• Privacy and tax planning advantages that make the United States, and specifically South Dakota, the jurisdiction of choice for international families.
• Innovative trust solutions including Foreign Grantor Trusts and Domestic Asset Protection Trusts.

If you’re attending STEP Global Congress or would like to learn more about Bridgeford’s innovative trust solutions, reach out to us at (605) 224-9189 or via our contact form.