South Dakota is the first state in the nation to enact progressive new legislation creating the South Dakota Family Advisor. The Family Advisor is yet another South Dakota modern trust law tool that delivers far more control to settlors of trusts, beneficiaries, and their advisors than ever before, when used in conjunction with a Directed Trust.

Appropriately referred to as a “Trust Protector Light,” because of its non-fiduciary status and limited powers, the South Dakota Family Advisor is an excellent option for settlors of trusts and beneficiaries who may want family advisors, such as attorneys, CPAs, or investment advisors, to have some control and input over important aspects of trust administration without elevating the position to that of a fiduciary, which carries with it heightened liability that may deter advisors from serving.

Watch the video below for a discussion around the Family Advisor role and how it can be incorporated into the trust planning process.

Please contact Bridgeford Trust via our contact page for more information about the South Dakota Family Advisor.

© Copyright 2024 - Bridgeford Trust Company

The information on this website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal and/or tax advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship. All information and material appearing on bridgefordtrust.com is copyrighted. Reproduction in whole or in part is not permitted without written permission.
Subscribe To Our Blog
You are now leaving Bridgeford Trust Company's website and are being redirected to a website that is external to and independent of Bridgeford Trust Company.