There’s a lot to love about South Dakota—the friendly people, scenic views, and very favorable tax and trust laws. Non-residents may wish to take advantage of SoDak’s more generous trust regulations, which establish legal protections for real estate, money, and other assets, protecting everything they’ve worked so hard for.
If you’re evaluating your estate planning options, a trust, especially one established in South Dakota, may be a viable option. A South Dakota trust lawyer for non resident from Stuart Green Law, PLLC, can explain how it can work for your current financial situation and goals.
South Dakota Trust Laws – What You Need To Know
South Dakota has one of the most tax-friendly environments, and this friendliness extends to its trust laws, too. The legal framework offers multiple advantages:
- No State Income Tax: SD is one of a handful of states in the country that does not levy a state income tax. This includes income derived from trusts.
- Asset Protection: Assets in SD trusts are protected with strong legal measures from creditors and other legal entanglements.
- Directed Trusts: A directed trust permits the grantor to appoint different people (or entities, like a law firm)to fulfill different roles within its structure. This permits a more customized approach to asset management and investment or distribution decisions.
- Privacy: SD law does not mandate disclosure of trust documents or details about the beneficiaries, so your confidentiality and privacy are protected.
- Flexible Trust Administration: Families can establish “perpetual trusts” that last for generations without stringent rules against perpetuities in other states.
How A South Dakota Trust Lawyer For Non-Resident Can Help You
As seasoned estate planning lawyers in South Dakota, we’re often asked if non-residents can establish trusts in our state. The answer is YES. You can establish and manage your trust in SD, regardless of which state you currently hang your hat in.
In fact, non-residents reap many of the same benefits and protections as residents when establishing and administering trusts in the state. The state offers a conducive legal framework for many of your estate planning goals and financial obligations.
Partnering With An Estate Planning Firm You Can Trust
Our firm and skilled estate planning attorneys stand out as a trusted provider of fiduciary services, including trusts, for South Dakota residents and non-residents alike. As a South Dakota trust law firm for nonresidents, our deep knowledge of trust laws allows us to offer tailored solutions that meet the unique needs of clients outside the state.
- Efficient Trust Administration: If you don’t have someone you trust to administer the trust and you don’t wish to handle the responsibility yourself, our firm can handle all administrative tasks with precision. We take our fiduciary duties seriously.
- Bespoke Solutions: We get to know you and your specific goals, circumstances, and preferences, so we offer the right advice to help you make informed decisions.
- Commitment to Client Service: We emphasize transparency, open communication, and responsiveness to build strong relationships with our clients based on mutual respect and trust.
Learn More About How We Can Assist With Your Estate Planning Needs
Securing your family’s financial future begins with establishing a trust to protect assets and provide a steady stream of income. To learn more about how a South Dakota trust lawyer for non-residents can help you, contact Stuart Green Law, PLLC, today for a consultation.