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-institute

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-Ruling

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.

step-oc-sponsor

step-oc-sponsorBridgeford Trust Company is proud to be the title sponsor of STEP Orange County’s 12th Annual Institute on Tax, Estate Planning, and the World Economy! Taking place on February 15-17, 2024, at the Balboa Bay Club in Newport Beach, California, this much anticipated event presents the latest issues for U.S. and international private client estate planning with a stellar line up of presenters.

David Warren – Co-Founder and Chairman – and Doug Mikkonen – Senior Vice President and Senior Trust Officer – will be attending this year’s institute and would love to talk with you about the South Dakota Advantage and 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. If you are not attending the conference, but are in the area, please reach out to Bridgeford Advisors’ California office to connect another time!

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, including Foreign Grantor Trusts and Domestic Asset Protection Trusts as well as 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 situs.

As you talk with our team at this year’s institute, we encourage you to ask any questions you have on these planning nuances and learn how Bridgeford Trust Company offers domestic and international families across the country and around the world a conflict-free, personalized, and non-institutionalized approach, embracing a new trust industry paradigm that has emerged.

We hope to see you in California! If you would like additional details about the event, visit STEP OC’s 2024 Institute website at: https://february2024.stepoc.org/.

life-insurance-podcast

life-insurance-podcastEpisode 36 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, Steven Zeiger – Managing Director of KB Financial. Steven utilizes the only patented prudent processes for life insurance selection and retention and joins David for an intriguing discussion on the legal guidance on life insurance illustrations from FINRA, the UPIA, adjudicated lawsuits, NYS DFS, the CFP Board, and the NAIC. Steven is well known in this area of study and has been asked to educate members of STEP, NAEPC, PLI, NYC EPC, the ABA, the CFA Society, FI 360/Broadridge, and dozens of other groups on the application of prudent investor guidelines to life insurance product selection and portfolio management.

Life insurance illustration comparisons are confusing and misleading according to industry regulators, but independent research can provide the clarity that fiduciaries crave in terms of easing their frustrations related to life insurance: conflict of interest and lack of transparency. Independent research offers the “full story” that is not available with typical life insurance illustration analysis, and research helps advisors understand which policy will lead to a better outcome for their clients. This episode expands on Steven’s life insurance guidance and research as well as Monte Carlo simulations for life insurance.

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.

step-silicon-valley

step-silicon-valleyBridgeford Trust Company is looking forward to being the featured speaker at STEP Silicon Valley’s February meeting, scheduled for Thursday, February 22, 2024, in Palo Alto, California. If you’re in the area, we invite you to join us for an educational session led by David Warren, Co-Founder and Chairman of Bridgeford Trust Company.

During the presentation, David will guide attendees through an overview of powerful modern trust law planning tools available in top-tier trust jurisdictions. With a primary focus on asset protection, privacy, and tax planning, he will provide valuable insights into how these tools keep control where it belongs – with families and their advisors through the use of directed trusts and trust protectors. David will go on to offer an objective comparison of top-tier U.S. trust jurisdictions, while emphasizing the vital importance of selecting the proper trust jurisdiction under current statutory guidance and emerging case law. The presentation will also review the “Death of INGs” in California, highlight information on newly enacted directed trust law in California and the Uniform Income and Tax Act and its potential implications, as well as consider whether there is a fiduciary duty to move trusts to a more favorable trust jurisdiction for tax and asset protection planning.

Event Information

  • Date: Thursday, February 22, 2024
  • Location: Fleming’s Prime Steakhouse & Wine Bar (180 El Camino Real, Palo Alto, CA 94304)
  • Agenda:
    • 4:30-5:00pm – Arrival/Networking
    • 5:00-5:15pm – STEP SV Update from Mark Jamison, Chairman STEP SV
    • 5:15-6:30pm – Presentation/Q&A
    • 6:30-7:30pm – Networking/Wrap Up
  • Register at: https://bridgeford-stepsv.eventbrite.com

If you have any questions on attending this complimentary event, please reach out to Melissa Roberson, Global Marketing & Digital Media Director, at mroberson@bridgefordtrust.com. We look forward to seeing you there!

Bridgeford Trust Company is looking forward to sponsoring the 42nd Annual International Tax Conference, hosted by the Florida Institute of Certified Public Accountants and the Florida Bar Tax Section, taking place on January 18-19, 2024, at the JW Marriott Miami. With changes and developments happening in international tax every day, this conference provides the knowledge needed for international tax professionals to assist in the various challenges they face in this dynamic field.

David WarrenCo-Founder and Chairman of Bridgeford Trust Company – and Chris Halverson – Managing Director of Bridgeford International and Senior Trust Officer at Bridgeford Trust Company – will be attending the event and would love to talk with you about why South Dakota is routinely ranked among the best trust jurisdictions in the United States because of its powerful modern trust law concepts around asset protectionprivacy, and sophisticated tax planning which are outlined in this education piece.

As a South Dakota chartered independent trust company, 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. David and Chris would be happy to discuss these concepts and more in greater detail, as well as how we can collaborate to serve families across the nation and around the world.

If you have any questions about our time at the conference or would like to connect with our team, be sure to reach out to us. And as always, if you have questions on any of the topics discussed above, call us at (605) 224-9189 or send us a note through our contact form. We hope to see you there!

podcast

episode-30-litigator-judge-trusteeEpisode 35 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, Craig Redler – Attorney and Asset Protection Specialist. Craig has over twenty years of estate planning experience and has held positions all over the world including stints with Amicorp in its offices in Auckland, New Zealand and Miami, Florida, as well as Southpac Trust International, Inc. in its offices in the Cook Islands and Tauranga, New Zealand. Craig is the only attorney in the U.S. who has lived in the Cook Islands to work in the fiduciary industry there. These experiences honed his expertise in asset protection, and he now provides asset protection planning services to clients across the country and around the world.

During their conversation, we learn more about Craig’s experiences serving as trustee for domestic and offshore trusts and designing and managing structures on behalf of high-net-worth families worldwide. They go on to discuss why Craig went back into the private practice of law and our shared belief that advisors have a fiduciary duty to research and select the the most sophisticated and powerful asset protection tools for settlors and beneficiaries of trusts.

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.

modern-trust-law-webinar

If you weren’t able to join us for our recent webinar on Wednesday, December 6, 2023, you can now watch the full recording of this webinar presentation that discusses modern trust law and the evolving trust industry. This webinar offered further conversation on our Independent v. Institutionalized Trust Companies article that has garnered much attention throughout the advisor community as it addresses the U.S. trust industry transformation, a new paradigm, and the influx of international financial services providers and private equity firms all looking for a “piece of the action.”

During the webinar, David Warren, Co-Founder and Chairman of Bridgeford Trust Company, walked attendees through:

  • An examination of the evolution of the trust industry over the past 40 years, what it means, and the opportunities it presents for settlor of trusts, beneficiaries, and their advisors, as well as the vital importance of proper situs selection and trust independence.
  • A cautionary review of how the new paradigm has ushered in large, international, multifaceted, and highly institutionalized financial services providers from all over the world establishing trust companies in top-tier U.S. jurisdictions: an unfortunate development for the U.S. trust industry for many reasons.
  • A consideration of the powerful modern trust law planning tools available in top-tier trust jurisdictions around asset protectionprivacy, and compelling state and federal tax planning – all achievable while maintaining great direction and control over critical aspects of trust administration.
  • An analysis of whether there is a fiduciary duty on the part of advisors and trustees to use top-tier trust jurisdictions in the planning process, and to embrace the new paradigm in the trust world, with a focus on providing truly independent and conflict-free trust solutions for families across the nation and around the world.

You can download a copy of the slides by clicking here.

We hope that you enjoy the full recording of the presentation, and if you have any questions regarding the material covered in this webinar, please contact us via our contact form or call us at (605) 224-9189.