Domestic Asset Protection Trusts are a compelling planning tool to use in lieu of or in conjunction with prenuptial agreements in the pre-marital planning process. While prenuptial agreements serve a certain purpose, there are many personal and legal issues that deter couples from executing them, and as such, many practitioners have turned to alternatives to protecting […]
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Below is a link to a recent Pennsylvania Commonwealth Court opinion (McNeil v. Commonwealth of Pennsylvania, Pennsylvania Commonwealth Department of Revenue) rejecting the Pennsylvania Department of Revenue’s attempt to impose an income tax on “resident trusts.” A resident trust is one created under the will of a decedent who was a Pennsylvania resident at the […]
For several years, South Dakota has been considered by many commentators and planners to be the best trust jurisdiction in the nation because of its cutting edge laws around asset protection, dynasty and directed trusts, and privacy. Proving once again that jurisdiction matters and is not to be ignored in the wealth and business planning process, […]
Bridgeford Trust Company is celebrating a very successful one year anniversary! Operating as a South Dakota fiduciary with trust powers recognized by Pennsylvania, Bridgeford Trust Company’s founders chose to be chartered in South Dakota because they passionately believe that selecting the proper trust jurisdiction is vital and that the decision as to where to place […]
Proving once again that trust situs matters, South Dakota (for the 2nd year in a row) is ranked the top dynasty trust state while Delaware slips again this year to the seventh position behind Ohio and Wyoming. The rankings chart, an annual ranking of dynasty trust states from across the country published by Nevada attorney […]