podcast-ireland-offshore-assets

podcast-ireland-offshore-assetsEpisode 41 is now available on Bridgeford Trust Company’s Delivering Direction and Control podcast series!

In this episode, David WarrenCo-Founder and Chairman of Bridgeford Trust Company – sits down with Michael Parker – Managing Director at Insight Consultants, an award-winning communications consultancy in Dublin, Ireland. Michael shares his journey through various senior positions in politics and business, detailing how these experiences shaped his entrepreneurial focus and led to the founding of Insight Consultants.

As David and Michael continue, they explore Ireland’s tax benefits and asset protection opportunities. They specifically discuss the advantages of Ireland’s pro-business environment, including its status as having the world’s lowest corporate tax rate and being the fastest-growing economy in the EU driven by trade. These factors contribute to Ireland being known as the “Silicon Valley of Europe.”

The conversation also addresses concerns about stability and security amid uncertainties in the U.S. Many are seeking a “flight to safety,” considering moving assets offshore to find a stable and secure atmosphere outside the U.S., and Ireland emerges as a top choice for those seeking a safe haven. As the conversation wraps up, listeners will see a hybrid solution emerge combining Ireland’s benefits with the taxprivacy, and asset protection advantages of the U.S., particularly in a jurisdiction such as South Dakota, creating a powerful planning solution and offering a new strategy for advisors to discuss with their clients.

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

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.

step-la-estate-planning-tax

step-la-estate-planning-taxBridgeford Trust Company is thrilled to once again be the headline sponsor and a featured speaker at STEP LA’s 16th Annual International Tax & Estate Planning Forum. This event will take place on June 13-14, 2024, at the Terranea Resort in Rancho Palos Verdes, CA.

This highly anticipated forum will explore the latest issues in international private client planning, with presentations from leading national and international experts, including our Co-Founder and Chairman, David Warren. David will join a distinguished panel featuring Hanna Marais, Director at Legato Trust and Fiduciary Services, and Sarajane Kempster, Head of Fiduciary Clients at Royal Bank of Canada (RBC) Wealth Management. The panel will delve into the topic of well-settled trusts amid global challenges such as wars, terrorism, economic instability, and personal insecurity. They will discuss key considerations for locating, structuring, funding, and administering trusts to navigate these challenges and address their settlors’ personal and eleemosynary objectives for the future preservation, deployment, and enjoyment of their personal wealth.

The Power of U.S. Trusts for International Families

Despite current global uncertainties, the United States continues to be the jurisdiction of choice for international families because of powerful modern trust law planning tools available in top-tier jurisdictions such as South Dakota, including Domestic Asset Protection Trusts and progressive privacy trust laws and tax planning opportunities. These are just a few of the unique planning solutions available under South Dakota law that are important for families across the globe to consider when selecting the best U.S. trust jurisdiction.

If you are attending the forum, we invite you to visit our booth to discuss these powerful U.S. trust strategies with David and Doug Mikkonen, Senior Vice President and Senior Trust Officer. We look forward to connecting and exploring how we can collaborate to best serve the international community.

Bridgeford Dinner at STEP LA

Bridgeford’s team will be hosting a dinner at Nelson’s restaurant, located on-site at the Terranea Resort, after the first day’s events. The dinner is scheduled for Thursday, June 13, 2024, at 7:00 PM. Seating is limited, so if you would like to join us, please RSVP to mroberson@bridgefordtrust.com.

Contact Us

We hope to see you in California! For more details about the event, visit STEP LA’s website by clicking here. If you are unable to attend but want to learn more about David’s presentation and the topics discussed, please reach out to us via our contact form or call us at (605) 224-9189.

trust-situs-international-families-podcast

trust-situs-international-families-podcastEpisode 40 is now available on Bridgeford Trust Company’s Delivering Direction and Control podcast series!

In this episode, David WarrenCo-Founder and Chairman of Bridgeford Trust Company – sits down with previous guest, Geralda KralManaging Director and Group Partner at UMA Wealth (Switzerland) AG, a private client and family wealth consultancy group. Joining them is a new guest to our podcast, Michael DonevPrivate Banking Advisor at BFI Infinity Inc., an independent Swiss investment advisory firm.

Together, they offer an inside look at UMA and BFI and the comprehensive wealth planning and internationally diversified investment portfolio services they offer to ultra-high-net-worth families. The conversation takes a deep dive into asset protection and privacy, addressing common misconceptions heightened by recent events like the Pandora Papers and regulatory developments such as Common Reporting Standard (CRS) and the Corporate Transparency Act (CTA).

As the discussion unfolds, listeners gain insights into how Bridgeford, UMA, and BFI collaborate to provide a multi-jurisdictional solution tailored to each client’s unique needs as they look to diversify their wealth planning with a combination of international and U.S. trust structures, as well as attain the truest form of asset protection. Geralda and Michael conclude by offering practical suggestions for families seeking stability and safety through diversification, highlighting the role of Switzerland and the expertise of our combined firms in navigating this process effectively.

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

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.

charitable-trust-planning-crt

charitable-trust-planning-crtIn the realm of trust planning and charitable giving, a South Dakota Charitable Remainder Trust (CRT) emerges as a powerful tool for high and ultra-high-net-worth individuals and families seeking both philanthropic impact and tax efficiency. Essentially, a CRT will provide families with immediate income tax deduction, a lifetime stream of income, and a waiver of capital gains taxes owed on contributed property.

At its core, a CRT aligns assets with charitable intent. Similar to a Purpose Trust which does not name a specific remainder person, a CRT is another powerful planning tool that allows individuals and families the option to generate income while still supporting a particular charity or “purpose.” South Dakota’s progressive trust laws enhance this planning opportunity by blending strong asset protection provisions, privacy, and the absence of state income tax, allowing a grantor’s charitable causes to seamlessly intertwine with their financial goals while maintaining direction and control through the use of directed trusts and trust protectors.

Creating a Charitable Remainder Trust (CRT)

The creation of a CRT involves an individual (the grantor) establishing an irrevocable trust and transferring assets, such as cash, securities, or real estate, into the trust. The trust yields income to a designated beneficiary (often the grantor or another individual) for a specified period, which can be a fixed number of years or the lifetime of the beneficiary. After the income period, the remaining assets in the trust go to a charitable organization or foundation, designated at the time of the trust creation.

Unlocking Tax Benefits Through Charitable Deductions

One of the notable advantages of a CRT lies in the grantor receiving a charitable deduction for the present value of the charitable remainder interest. This not only aligns with philanthropic goals but also presents a strategic approach to tax planning, potentially yielding significant tax benefits.

Understanding CRATs and CRUTs

Distinguishing between Charitable Remainder Annuity Trusts (CRATs) and Charitable Remainder Unitrusts (CRUTs) unveils nuanced options for tailoring strategies. While a CRAT offers a constant payout, maintaining a fixed percentage of the initial trust contribution throughout the trust term, a CRUT adapts by disbursing to the income beneficiary a fixed percentage multiplied by the trust’s fair market value each year for the designated trust duration. Understanding these categories empowers practitioners to tailor solutions that suit the unique needs of their clients.

Bridgeford Trust Company can assist in creating optimal charitable giving strategies that put direction and control into the hands of settlors through the use of powerful modern trust law, bringing asset protection and privacy while offering significant tax benefits. To learn more, please contact us via our contact page or by calling (605) 224-9189.

upcoming-events-may-april

upcoming-events-april-mayBridgeford is looking forward to being at various events all over the country in April and May! In addition to being a sponsor or speaker at these can’t miss events, we’d love to meet with our friends and colleagues in all of these areas!

Read on for more details about our activity, and don’t hesitate to reach out if you’d like to schedule a time to meet at the events or in between as well!

STEP Gold Coast Florida’s Social Event: April 25 in Boca Raton, FL

Join us as Bridgeford Trust Company proudly sponsors STEP Gold Coast Florida’s upcoming social event! If you will be in South Florida, we hope to see you for an evening of networking with local members and guests. Mariano Marco, Global Managing Director of Bridgeford Global (the newest addition to the Bridgeford family of companies – read more about that here), will be attending and would love to connect with you at this complimentary social event.

Date: Thursday, April 25, 2024
Time: 5:00pm – 7:00pm ET
Location: DRIFT – The Bar at Sonrisa at the Boca Raton Marriott (5150 Town Center Circle, Boca Raton, FL 33486)
Register: Contact Michael Schiff, STEP Gold Coast Florida’s Immediate Past Chair to register.

McKonly & Asbury’s COLLABORATE! 2024 Conference: May 2 in Camp Hill, PA

McKonly & Asbury is a leading, regional accounting and business advisory services firm and Bridgeford Trust Company is looking forward to sponsoring and speaking at their flagship event! This conference features three dynamic keynote speakers, a variety of specialized breakout sessions for attendees to choose from, CE credits, and plenty of networking opportunities.

If you can attend, be sure to sign up for Bridgeford’s Breakout Session entitled, Strategic Trust Planning in a Shifting Tax Landscapepresented by David Warren, Co-Founder and Chairman of Bridgeford Trust Company. In it, David will explore tangible trust planning and taxation mitigation strategies available by simply selecting the proper trust jurisdiction, including Dynasty Trusts, Community Property Trusts, Incomplete Non-Grantor Trusts, and more.

Date: Thursday, May 2, 2024
Time: 7:30am – 5:30pm ET
Location: Penn Harris Hotel (1150 Camp Hill Bypass, Camp Hill, PA 17011)
Register: Click here to learn more and register.

Transnational Taxation Network’s 2024 Americas Tax Conference: May 17 in Miami, FL

The Transnational Taxation Network (TTN) is a multi-disciplinary association of tax, accounting, and trust practitioners who have interest in international tax and Bridgeford Trust Company is proud to be a sponsor at their upcoming conference! If you are planning to attend, be sure to get in touch with Mariano Marco, who will be attending from Bridgeford Global.

Date: Friday, May 17, 2024
Time: 10:00am – 4:30pm ET
Location: Rubell Museum (1100 NW 23rd St, Miami, FL 33127)

Register: Click here to learn more and register.

Orange County Business Journal’s Family-Owned Business Awards: May 30 in Irvine, CA

Bridgeford Advisors (dba Bridgeford) – Bridgeford Trust Company’s sister company – is excited to sponsor the Orange County Business Journal’s 2024 Family-Owned Business Awards. This luncheon and awards program recognizes Orange-County-based family-owned firms that have distinguished themselves via their business accomplishments and contributions to the local community.

As a sponsor, Bridgeford has a table available for friends to join us. David Warren will be attending and if you would like to attend with us, please reach out via the information below.

Date: Thursday, May 30, 2024
Time: 11:00am – 2:00pm PT
Location: Irvine Marriott (18000 Von Karman Ave., Irvine 92612)
Register: Contact Melissa Roberson if you’d like to join us for this event.

For more information or questions on any of these upcoming events, please contact us via our contact page or call us at (605) 224-9189.

bridgeford-globalIn today’s rapidly evolving and dynamic cross-border planning landscape, the U.S. has emerged as both a privacy and tax “haven” for international families, creating increased demand for U.S. trust solutions specifically in top-tier jurisdictions such as South Dakota. Given this burgeoning opportunity, we are excited to announce the launch of Bridgeford Global, the newest addition to the Bridgeford family of companies. Operating as the worldwide planning entity within our family of companies, Bridgeford Global is poised to meet the evolving needs of international families and their advisors with innovative solutions and unmatched expertise.

With our international reach expanding exponentially, Bridgeford Global will not only promote the power of U.S. modern trust law and South Dakota-based fiduciary solutions, but the company will also provide offshore fiduciary and corporate services as well as sophisticated insurance solutions. Bridgeford Global’s comprehensive services, delivered by a highly experienced team of professionals offering specialized expertise to wealthy families worldwide, include:

  • South Dakota-Based Fiduciary Solutions through Bridgeford Trust Company: Bridgeford Global offers specialized expertise to international families, delivering unique fiduciary planning solutions and structures available under South Dakota’s powerful modern trust law. Domestic Asset Protection Trusts and Foreign Grantor Trusts as well as access to industry leading privacy laws and strategic tax planning opportunities are just a few of the solutions that make the U.S., and specifically South Dakota, the jurisdiction of choice for not only domestic families, but also international families seeking innovative and progressive fiduciary services.
  • Offshore Fiduciary and Corporate Services for Non-U.S. Clients: In addition to our South Dakota-based fiduciary solutions, Bridgeford Global extends its reach globally through strategic alliances with international service providers. This enables Bridgeford’s family of companies to seamlessly offer both domestic and offshore fiduciary and corporate services tailored to the needs of our non-U.S. clients while ensuring that clients receive comprehensive support, guidance, and expertise designed for their individual needs and objectives.
  • Registered Insurance Agency in Florida Offering Sophisticated Insurance Solutions: As a registered insurance agency in the state of Florida, Bridgeford Global delivers sophisticated insurance solutions, including but not limited to Private Placement Life Insurance (PPLI), to U.S. and non-U.S. clients. By leveraging our expertise and strategic alliances, we provide comprehensive insurance strategies that align perfectly with our fiduciary and structuring capabilities both domestically and offshore, serving our client’s diverse planning objectives in the international space.

Mariano Marco

In addition to this exciting evolution to the Bridgeford family of companies, we are pleased to introduce Mariano Marco as Global Managing Director of Bridgeford Global.

As Global Managing Director, Mariano spearheads planning and business development initiatives in the international space, particularly Latin America, promoting Bridgeford Trust Company’s expansive fiduciary planning and structuring capabilities. With a focus on asset protection, privacy, tax optimization, and succession planning, Mariano brings the power, sophistication, and stability of U.S. modern trust law to families and their advisors across the globe.

Beginning his career as a private client lawyer, Mariano practiced law at a prestigious law firm in Argentina before transitioning into fiduciary services. With over 17 years of experience in private wealth and trust and estate matters, Mariano has expertise in both domestic and offshore planning and specializes in cross-border structuring, fiduciary and corporate administration, and tax consultancy across various jurisdictions. Prior to joining Bridgeford Global, Mariano held pivotal roles including Trust Officer at a single-family office, as well as senior roles both at JTC and Trident as Managing Director overseeing wealth structuring solutions for clients across Latin America and the Americas, with cross-border strategies extending into Europe and the Caribbean. Fluent in Spanish and English, Mariano also possesses intermediate proficiency in Portuguese and basic skills in Italian.

David Warren, Co-Founder and Chairman of Bridgeford Trust Company, shares, “Mariano, whom I have known for many years, is an outstanding fiduciary professional with exceptional international experience working with families across the globe, particularly in Latin America. We could not be more thrilled to welcome Mariano to the team as we take Bridgeford Global’s initiative to exciting new heights.”

Meet Mariano Marco: Leading Bridgeford Global’s International Presence

Gain valuable insight into Mariano’s background, capabilities, and strategic direction for Bridgeford Global by tuning in to an exclusive podcast episode, hosted by David Warren. You can listen on Bridgeford’s podcast pageApple Podcasts, iHeartRadioSpotify, and SoundCloud.



And for those of you in and around Miami, please stay tuned for future events welcoming Mariano to our team and celebrating the launch of Bridgeford Global!

Bridgeford Trust Company – now the oldest and largest independently held and privately owned South Dakota chartered 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. We encourage you to learn more at: www.bridgefordglobal.com.

You can reach out to Mariano directly at mmarco@bridgefordglobal.com and (305) 347-5129 as well as connect with him on LinkedIn. For questions or further information on this evolution of the Bridgeford family of companies in the international space, please contact us via our contact page or call us at (605) 224-9189.

trust-situs-international-families-podcast

trust-situs-international-families-podcastEpisode 38 is now available on Bridgeford Trust Company’s Delivering Direction and Control podcast series!

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – sits down with guest, Stefan Szwarc – Partner at the South Dakota law firm of Halbach | Szwarc Law Firm. Stefan’s unique journey from financial advisor to attorney lends him a comprehensive perspective on crafting effective plans for clients. The episode delves into the establishment of Stefan’s new law firm, set to mark its first anniversary, highlighting its focus on and commitment to working with international families, as well as its great reputation and early successes fueled by a diverse team of attorneys offering tailored support and innovative legal solutions, including a new solution for clients regarding the ever-evolving Corporate Transparency Act.

During their conversation, you’ll hear David and Stefan discuss the influx of international families seeking U.S. trust solutions, particularly South Dakota due to its robust regulatory framework and emphasis on protecting legitimate family-held wealth in a way that makes sense for the family through innovative tax planning and asset protection. Before they wrap up, you’ll also be the first to hear about STEP South Dakota, its formation with support from many including Bridgeford Trust Company and Halbach | Szwarc Law Firm, and its pivotal role in fostering collaboration and expertise within the trust industry, both domestically and internationally.

You can listen to our latest episode on Bridgeford’s podcast page, Apple PodcastsGoogle PodcastsiHeartRadioSpotify, and SoundCloud.

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.

nyc-international-estate-planning-instituteBridgeford Trust Company is once again proud to sponsor the 19th Annual International Estate Planning Institute, presented by the New York State Bar Association (NYSBA) and STEP New York. Taking place on March 14-15, 2024, at the New York Hilton Midtown, this two-day Institute is a much-anticipated annual event at which trust and estate practitioners, bankers, and accountants from around the world gather to hear leaders in their fields exchange ideas and discuss developments regarding cross-border planning with a U.S. component.

Our team will be attending this year’s Institute and would love to talk to you about how we may be able to collaborate to best serve the international community. If you are going to be there, be sure to stop by Bridgeford’s exhibit table or contact us so we can meet at one of the events or grab a drink or dinner together!

The Power of U.S. Trusts for International Families

The United States continues to be the jurisdiction of choice for international families because of powerful modern trust law planning tools available in top-tier jurisdictions such as South Dakota.

We invite you to watch our webinar – The U.S. as the International Trust Jurisdiction of Choice for Privacy, Asset Protection, and Tax Planning. In it, our team examines worldwide factors for the historic movement of money into the U.S., objectively compares the leading top-tier U.S. trust jurisdictions, and discusses in greater detail the unique planning solutions mentioned above, providing valuable insights for advisors and international families to consider when selecting the best U.S. trust situs.

Bridgeford Trust Company: Big Enough to Matter, Small Enough to Care

Now the oldest and largest independently owned South Dakota chartered trust company, Bridgeford Trust Company is eager to network and share insights at this esteemed event. We are passionate about “big ideas” and have embraced the new trust industry paradigm with a conflict-free, personalized, and non-institutionalized approach that allows us to deliver unmatched direction and control to clients and their advisors.

We hope to see you in NYC! If you would like additional details about the event, you can visit the Institute website by clicking here.

Corporate-Transparency-Act-CTA-RulingThe Corporate Transparency Act (CTA), created and implemented by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), became effective January 1, 2024. The CTA aims to enhance corporate transparency in an effort to prevent and combat illicit financial activities, such as money laundering and tax evasion, discouraging the use of shell corporations as a tool to disguise and move illicit funds. The CTA implements reporting requirements for limited liability companies (LLCs), corporations, and other business entities that have never had to report such information previously, with harsh penalties for non-compliance.

From inception, the CTA sparked debate and controversy across the country, as evidenced by the hundreds of conflicting comments submitted during the preliminary drafting and review phase among business owners, lawyers, CPAs, and other professional groups, many claiming the CTA was too invasive, unmanageable, difficult to enforce, and, ultimately, ineffectual.

In National Small Business United v. Janet Yellen, a Northern District of Alabama Federal Judge ruled on March 1, 2024, that the CTA was unconstitutional. Citing privacy concerns, and a myriad of legal reasoning and precedent around the scope of Congress’s power, the Court concluded:

“The CTA exceeds the Constitution’s limits on the legislative branch and lacks a sufficient nexus to any enumerated power to be a necessary or proper means of achieving Congress’ policy goals…the Corporate Transparency Act is unconstitutional because it cannot be justified as an exercise of Congress’ enumerated powers.”

The decision – already the subject of debate and differing interpretations as to its practical impact on the CTA – has created uncertainty around its legitimacy and enforceability. The ruling is certain to be addressed by appeals courts in the coming months. While the exact implications for continued compliance with this mandatory reporting regime for those not party to the litigation is currently unclear, it would certainly seem prudent and advisable to consult with legal counsel and continue to gather required information and properly file pursuant to CTA requirements, while awaiting guidance from the Appeals Court and the Treasury, particularly for entities formed in 2024, which have 90 days to comply with the CTA.

For a more detailed discussion about the CTA, its requirements, and penalties for non-compliance, click here. You can also view a presentation about the CTA, as part of Bridgeford’s widely viewed and well received livestream, “Preserving Privacy and Asset Protection in a Transparent World”.

As we continue to see this ruling unfold, we will keep you updated on the latest details and analysis. Should you have any questions in the meantime on the CTA or need further assistance, please reach out to us via our contact page or by calling (605) 224-9189.

corporate-transparency-act-podcast

corporate-transparency-act-podcastEpisode 37 is now available on Bridgeford Trust Company’s Delivering Direction and Control podcast series! In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – sits down with guest, Mike Montali – CEO of Harbor Compliance. Listeners will discover the fascinating journey of Harbor Compliance, from inception to their exponential growth in becoming a leading provider of compliance solutions for businesses and nonprofit organizations. Their purpose-built software platform and managed services are designed to streamline the complex landscape of multistate government licensing compliance, allowing businesses and organizations to effortlessly put compliance on autopilot, ensuring seamless operations and peace of mind.

As they continue their conversation, David and Mike take a focused turn towards the Corporate Transparency Act (CTA) and its implications. We learn how Harbor Compliance’s cutting-edge technology securely handles the requirements of the CTA, from information collection to storage and filing, providing a “single source of truth” for those who are affected by the new reporting requirements with absolute minimal disruption to their business.

You can listen to our latest episode on Bridgeford’s podcast page, Apple PodcastsGoogle PodcastsiHeartRadioSpotify, and SoundCloud.

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.