Bridgeford Trust is built around the unifying belief that high net worth individuals and families around the country and the world are vastly underserved by traditional “bundled” wealth management and trust administrative models. Driven by the demands and unique needs of affluent families, more change has occurred in the fiduciary industry in the past twenty years than has occurred in the previous two centuries.

Leveraging progressive and modern trust laws such as directed trusts, trust protectors, and decanting, Bridgeford Trust is a part of this new wealth management trend nationally, representing a new and emerging wealth management service paradigm built around true independence, collaboration, and world-class capabilities. View the video below for a message from the founders of Bridgeford Trust about its inception, success, and future.

200070491-001Which state is the best United States trust jurisdiction continues to be a hot topic of debate for advisors around the country and the world. Most academics, commentators, and industry reports generally find South Dakota, Nevada, Alaska, and Delaware to be the “top tier” United States trust jurisdictions.

However, as outlined in a recent article and demonstrated by a well-researched chart comparing the leading United States trust jurisdictions published by Bridgeford Trust, there are specific areas in trust law where South Dakota excels, clearly rendering that state the jurisdiction of choice relative to trust situs. Dynasty Trusts, favorable State Income Taxation, Community Property Trusts, Privacy, Decanting, and the lowest Insurance Premium Tax in the nation are all areas where South Dakota’s laws are superior to those of other top tier jurisdictions, providing advisors powerful tools with respect to wealth planning for high net worth families across multiple generations. Read more

Bridgeford Trust recently produced a well-researched chart comparing the leading U.S. trust jurisdictions, with a particular emphasis on areas that clearly distinguish South Dakota as the superior trust jurisdiction in the overall analysis. Click here or on the image below to view the chart in PDF format.

As illustrated by the shaded areas on the chart, there are five specific planning tools where South Dakota excels, clearly rendering that state as the overall jurisdiction of choice for trust situs. South Dakota is generally regarded by most practitioners and academics, including Steve Oshins, a Nevada attorney, as being the best Dynasty Trust state and having the best Decanting Statute in the nation. Also, South Dakota clearly has the most robust privacy laws in the country, as pointed out by a recent article appearing in the January 2016 edition of Trusts & Estates Magazine comparing U.S. trust jurisdictions wherein the author noted, “Of the top tier trust jurisdictions, South Dakota has the best privacy laws in the nation.”

In addition, South Dakota is one of only two states with a Community Property Trust, a compelling tax planning tool for spouses. Finally, at 8 basis points, South Dakota has the lowest insurance premium tax in the U.S. When these attributes are considered in the aggregate, South Dakota clearly emerges as the superior trust jurisdiction in the nation.

For more information about South Dakota’s progressive and industry leading trust laws, click here. Contact Bridgeford Trust via our contact page with any questions or for additional information.

Jurisdiction Showdown

 

spouseAs mentioned in a previous article, recently passed legislation created the South Dakota Community Property Special Spousal Trust – House Bill 1039 (2016) (Sections 29-42), a very powerful planning tool for spouses not available in most states. The trust may be a revocable or irrevocable trust created by one or both spouses with both spouses as beneficiaries. This is a very powerful state income and estate tax planning tool because it will allow married settlors of the trust to avoid state taxation on undistributed retained income within the trust (because South Dakota does not have an income tax) AND treats the property as community property at the death of the first spouse, applying a 100% percent step-up in basis at date of death, therefore, avoiding federal capital gains taxation of marital/trust assets when sold. Watch the video below for an informative overview of the new law and the exciting new planning opportunities it presents for planners across the country, and around the world.
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GFS Marketing GraphicBridgeford Trust recently presented at the Global Financial Summit, an exclusive, private wealth conference that took place at the Atlantis Resort & Casino in the Bahamas. Featuring some of the biggest names and most insightful advisors in the wealth management world, David Warren, President and CEO of Bridgeford Trust, was honored to be included as one of this year’s speakers. His presentation, “The Vital Importance of Selecting the Proper Trust Situs,” and his participation on a “Panel on Taxes and Estate Planning” focused on  the importance of trust jurisdiction in the wealth planning process for domestic and international families with connections to the U.S. relative to asset protection, privacy, and sophisticated tax planning.

The event generated a lot of media attention in the Bahamas and Bridgeford was interviewed as part of a nationally televised report about the conference. You can view that interview by clicking here. Read more

Learn more about modern trust laws such as community property trusts, directed trusts, decanting, privacy, and asset protection trusts by subscribing to Bridgeford Trust’s YouTube channel where you can view short videos and webinars on these and other cutting edge wealth planning concepts.

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As a subscriber, you will receive updates when new videos are added which will keep you up to date on developments in the trust law space.

If you would like additional information on anything you see or read, please feel free to contact Bridgeford Trust via our contact page.

200070491-001Bridgeford Trust recently participated in a “Trust Jurisdiction Showdown” panel discussion at The Gathering, a 3-day educational conference produced by the Laureate Center for Wealth Advisors in San Diego, California. This 12th annual gathering featured experts speaking on topics in the areas of estate, business, and wealth strategies, drawing registrants from across the nation.

The panel included representatives from various leading trust jurisdictions including South Dakota, Nevada, Wyoming, and Alaska. The debate was spirited and very informative, focusing on attributes of each state’s trust laws. At the center of the discussion was a well-researched chart comparing the leading U.S. trust jurisdictions, with a particular emphasis on areas of trust law that clearly distinguishes South Dakota as the superior trust jurisdiction in the overall analysis. Click here or on the image below to view the chart in PDF format. Read more

spouseProving once again South Dakota’s status as a top tier trust jurisdiction AND the vital importance of proper situs selection in the wealth planning process, South Dakota’s Governor Dennis Daugaard just recently signed a progressive new legislation which unanimously had passed both the South Dakota House and Senate creating the South Dakota Community Property Special Spousal Trust – House Bill 1039 (2016) (Sections 29-42). The trust may be a revocable or irrevocable trust created by one or both spouses with both spouses as beneficiaries. Read more

TrustModern trust laws, available in progressive trust jurisdictions such as South Dakota, have drastically changed the trust and wealth planning landscape bringing far more control and flexibility to settlors, advisors, and beneficiaries than ever before. Concepts such as the directed trust, decanting, and the trust protector have tremendously changed traditional notions around irrevocable trusts, and how they are drafted and administered.

Click here for a detailed description of these modern trust laws, and a discussion around the huge impact they are having on modern wealth planning.

GFS Marketing GraphicBridgeford Trust will be presenting at the upcoming Global Financial Summit, an exclusive, private wealth conference taking place at the Atlantis Resort & Casino in the Bahamas from March 16-19. The conference is produced by noted economist and award-winning financial advisor, Mark Skousen, and includes presentations from an elite team of highly successful wealth managers, financial gurus, economic forecasters, and geo-political analysts. Presenters will offer an experienced perspective on wealth-building and asset protection, offshore investing opportunities, financial privacy, and investment strategies.

Featuring some of the biggest names and most insightful advisors in the wealth management world, David Warren, President and CEO of Bridgeford Trust, is honored to be included as one of this year’s speakers. Read more