SD Advantage
SDTA’s mission is to serve as the professional and trade association for South Dakota’s fiduciary services and trust industry by promoting, educating and supporting professionals and organizations involved in the trust industry in South Dakota.
The South Dakota Advantage
The most progressive trust laws in the country
South Dakota has been at the forefront of creating the most progressive trust laws in the country for over 30 years.
Directed Trusts
Directed Trusts, only available in a handful of states across the country including South Dakota, continue to drastically change the trust world through unbundling asset management and trust administration functions, putting control back into the hands of settlors, beneficiaries, and their advisors.
Asset Protection
Domestic Asset Protection Trusts are a formidable planning strategy that legally shields assets from third party liability (including spouses in a divorce proceeding) and law suits while permitting settlors to retain some control over the trust assets and enjoy a discretionary benefit during their lifetime.
The South Dakota Advantage
The most progressive trust laws in the country
South Dakota has been at the forefront of creating the most progressive trust laws in the country for over 30 years.
Directed Trusts
Directed Trusts, only available in a handful of states across the country including South Dakota, continue to drastically change the trust world through unbundling asset management and trust administration functions, putting control back into the hands of settlors, beneficiaries, and their advisors.
Asset Protection
Domestic Asset Protection Trusts are a formidable planning strategy that legally shields assets from third party liability (including spouses in a divorce proceeding) and law suits while permitting settlors to retain some control over the trust assets and enjoy a discretionary benefit during their lifetime.
SD Trust Initiatives
We encourage members to consider sharing a measure of their success with all South Dakotans through contributions to the Trust for the Future Fund and by engaging in volunteer opportunities.
MARKETING/BRANDING
LOBBYING/TRUST LAW PROTECTION
EDUCATION
PHILANTHROPY
No Rule Against Perpetuities
Driven by state law, South Dakota law allowed for the one of the first Dynasty Trust in the nation by abolishing the rule against perpetuities. Dynasty Trusts avoid federal taxation on trust assets forever because there is never a forced distribution of assets.
No State Income Tax
South Dakota does not have an income tax and, therefore, does not tax retained income in trusts. Therefore, there is a simple and compelling tax planning opportunity by properly situsing a trust in South Dakota.
Privacy Laws
Most states do not have provisions or laws protecting trust information from being revealed to beneficiaries or to the public during litigation. South Dakota clearly has the most robust privacy provisions in the nation rendering that state the trust jurisdiction of choice for wealthy families from all over the world.
Very Low Premium Tax on Life Insurance Policies
Typical premium tax charges run between 150 and 250 basis points annually. South Dakota’s insurance premium tax is among the lowest in the nation at 8 basis points.
Flexible Decanting and Reformation Statutes
No Rule Against Perpetuities
Driven by state law, South Dakota law allowed for the one of the first Dynasty Trust in the nation by abolishing the rule against perpetuities. Dynasty Trusts avoid federal taxation on trust assets forever because there is never a forced distribution of assets.
No State Income Tax
South Dakota does not have an income tax and, therefore, does not tax retained income in trusts. Therefore, there is a simple and compelling tax planning opportunity by properly situsing a trust in South Dakota.
Privacy Laws
Most states do not have provisions or laws protecting trust information from being revealed to beneficiaries or to the public during litigation. South Dakota clearly has the most robust privacy provisions in the nation rendering that state the trust jurisdiction of choice for wealthy families from all over the world.
Very Low Premium Tax on Life Insurance Policies
Typical premium tax charges run between 150 and 250 basis points annually. South Dakota’s insurance premium tax is among the lowest in the nation at 8 basis points.
Flexible Decanting and Reformation Statutes
SD TRUST Initiatives
We encourage members to consider sharing a measure of their success with all South Dakotans through contributions to the Trust for the Future Fund and by engaging in volunteer opportunities.
MARKETING & BRANDING
LOBBYING/TRUST LAW PROTECTION
EDUCATION
PHILANTHROPY
Connect with SDTA Members
- Adler Trust Company
- Aegis Trust Company
- Argonne Trust Company
- Biltmore Trust Company
- Bridgeford Trust Company
- Bridges Trust Company of SD
- BTC Trust Company of SD
- Capital First Trust Company
- Casey Peterson, Ltd.
- Central Bank
- CISA Trust Company (South Dakota) LLC
- Citi Private Bank
- Cornerstone Private Asset Trust Company, LLC
- CorTrust Wealth Management
- Corundum Trust Company
- Cresset Trust Company
- Dacotah Bank Trust & Wealth Management
- Davenport, Evans, Hurwitz & Smith, L.L.P.
- Dorsey & Whitney Trust Company LLC
- Eide Bailly, LLP
- Equity Trust Company
- Expedition Trust Company
- First Bank & Trust
- First International Bank & Trust
- First Interstate Bank
- The First National Bank in Sioux Falls
- First PREMIER Bank
- First Trust Company, LLC
- FNN Trust Company
- Frontier Bank
- Goosmann Law Firm
- Gunderson, Palmer, Nelson, & Ashmore, LLP
- Halbach | Szwarc Law Firm
- IQ EQ Trust Company, U.S. (formerly Concord Trust)
- IRA Financial Trust Company
- IRAR Trust Company
- JTC Trustees
- Ketel Thorstenson, LLP
- The Kingdom Trust Company
- Lapistone Trust Company
- Liberty National Bank – Wealth Management
- Lynn, Jackson, Schultz & Lebrun, P.C.
- Midland Trust Company
- National Advisors Trust
- Next Generation Trust Company
- New Vision Trust Company
- North Point Trust Company
- Pifer's Auction & Realty and Land Management
- Plains Commerce Bank
- RSM US LLP
- Sageworth Trust Company of SD
- Sawmill Trust Company
- Security National Bank of SD
- South Dakota Trust Company
- Sterling Trustees
- Thompson Law, PLLC
- Thrivent—Ryan Anderson, Market Director
- Trident Trust Company
- UMB Trust Company of SD
- Wealth Advisors Trust Company
- Woltman Group, PLLC
- Woods, Fuller, Shultz, & Smith P.C.
- Zedra Trust Company