2023

SD Division of Banking: 2023 Updates, Audit Highlights and Cyber-Security/Crypto Asset Guidelines | Matt Schlechter, Brad Pesicka, Chase Koskovich & Jonathon Sanborn

Examiners from the South Dakota Division of Banking will be discussing the trust company audit process, BSA, SAR and compliance guidelines, along with timely issues related to cybersecurity and crypto assets.

SD Division of Banking: 2023 Updates, Audit Highlights and Cyber-Security/Crypto Asset Guidelines | Matt Schlechter, Brad Pesicka, Chase Koskovich & Jonathon Sanborn Read More »

Private to Public: Risk Management of South Dakota Trust Companies | Panelists: Judith Pearson, Patrick Goetzinger & Ashley Blake

The panel will explore how the laws, specific to South Dakota, provide a broad platform for families to create flexible trust structures while minimizing cost and liability. The panel will also discuss options to reduce risk, how private trust companies can maintain family involvement in their structures, and the implication of risk and insurance for private and public trust companies.

Private to Public: Risk Management of South Dakota Trust Companies | Panelists: Judith Pearson, Patrick Goetzinger & Ashley Blake Read More »

Serving as Trustee of Foreign Trusts: Planning Opportunities, FATCA, and Advantages Over Offshore Trust Companies | Jennie Cherry

In this session Jennie Cherry will describe a planning scenario attractive to non-US wealth generators with US descendants centered around a foreign grantor trust with a SD trust company trustee. She will then discuss the specific responsibilities for the trust company when serving as trustee of a foreign trust, including FATCA status, due diligence and reporting; income tax status and W-8 forms; and CRS Controlling Persons. Finally, Jennie will provide insights into the business opportunities of onshore foreign trusts.

Serving as Trustee of Foreign Trusts: Planning Opportunities, FATCA, and Advantages Over Offshore Trust Companies | Jennie Cherry Read More »

Scary Stories for the Corporate Trustee: Litigation Issues and How to Avoid Them | Krista Eckhoff

This session will explore scary situations that corporate trustees have found themselves in, and provide tips for how to avoid them. Krista will provide examples from her practice and recent court decisions, to help you address the nightmare scenarios that can keep you up at night.

Scary Stories for the Corporate Trustee: Litigation Issues and How to Avoid Them | Krista Eckhoff Read More »

Family Office Governance: Putting the Family Back in the Family Office or Dynastic Family Business | Roey Diefendorf

Is our job really complete if we merely prepare the money for heirs? Learn about the critical next step to “prepare the heirs for the money” (and their more than money wealth). This “FamTec” (family + technology) solution is the tool to truly integrate the rising generations into the family office/family business.

Family Office Governance: Putting the Family Back in the Family Office or Dynastic Family Business | Roey Diefendorf Read More »

Heads I Win, Tails You Lose: Advising the Wealthy in Times of Protracted and Unprecedented Political, Economic, Cultural and Scientific Change | Joshua Rubenstein

Observations on how difficult it has become to do estate planning and wealth preservation for clients when the rules change constantly. This session covers tax changes in the US and abroad (as they impact one another), enforcement changes leading to new reporting requirements, changes in access to information, changes in the nature of families, and changes in the frequency of intra-family litigation. A review of what changes are likely in transition, which will return to “normal”, and which changes are here to stay – how do we best advise in the meantime?

Heads I Win, Tails You Lose: Advising the Wealthy in Times of Protracted and Unprecedented Political, Economic, Cultural and Scientific Change | Joshua Rubenstein Read More »

The Intersection of Estate Planning & Crypto 2.0: Decrypting Crypto | Matt McClintock

The last couple of years has been a wild ride for crypto… but it is still here, and interest is growing. Matt will present the state of asset classes related to the intersection of estate planning, including current regulatory thoughts; along with a discussion on ideas and experiences regarding how to augment estate planning for crypto clients

The Intersection of Estate Planning & Crypto 2.0: Decrypting Crypto | Matt McClintock Read More »

Shining Some Light on the Corporate Transparency Act | Christopher Smith

In 2021, Congress passed the Corporate Transparency Act (CTA), aimed at tracking international money launderers. Instead, it exempts public corporations, and is anything but transparent. The law ends up hitting the smallest individually and family-owned businesses, charities, and related entities, raising important compliance and privacy concerns. With the clock ticking on the law’s January 2024 effective date, basic questions still remain, including who must file. This session will help shine some much-needed light on the lack of transparency around CTA.

Shining Some Light on the Corporate Transparency Act | Christopher Smith Read More »

IYKYK – DAPTS: If You Know, You Know – Domestic Asset Protection Trust | Tom Simmons

Domestic Asset Protection Trusts (DAPTs) have been with us onshore for over a quarter of a century. Since their introduction in Alaska in 1997, their recognition has spread to other American jurisdictions. This presentation will study the tax and asset protection developments with DAPTs and offer drafting pointers and tips.

IYKYK – DAPTS: If You Know, You Know – Domestic Asset Protection Trust | Tom Simmons Read More »

Governor’s Trust Task Force Update | Members of the Governor’s Trust Task Force

Moderated by Patrick Goetzinger, members of the Task Force will discuss the work of the Task Force in shaping South Dakota trust law for the upcoming 2024 legislative session and review 2023. By Executive Proclamation, the Task Force’s goal is to establish and maintain South Dakota’s stature as the premier trust jurisdiction in the United States. The Task Force, the only one of its kind in the nation, is comprised of representatives from the trust industry, recognized as experts in their field, and ex-officio appointments from state government agencies. The panel is a cross section of the Task Force membership. A portion of the discussion will be dedicated to a Q&A session with attendees.

Governor’s Trust Task Force Update | Members of the Governor’s Trust Task Force Read More »