Lindquist & Vennum LLP is pleased to announce that the firm has published the first-ever South Dakota Trust Law Deskbook. This practice aid compiles selected South Dakota statutes and administrative rules relating to trust law and private trust companies. Topics include taxation, judicial remedies, uniform probate code, property, banks and banking, fiduciaries and trusts, and administrative rules. The deskbook is intended to be used as a statutory resource by wealth advisors, trust officers, attorneys, and family office professionals across the country.
South Dakota is nationally recognized by professional advisors, industry publications, and wealthy families as a top jurisdiction for trust situs considering the state’s favorable trust laws, legislative awareness, a responsive judiciary, and business-friendly regulatory climate. The state has no rule against perpetuities, no income tax, and expansive domestic asset protection trust laws applicable to all U.S. citizens, resident aliens, and non-resident aliens. The state also offers low capitalization requirements for trust companies and reasonable insurance rates. South Dakota’s judiciary is responsive and willing to accommodate trust and estate matters, including holding emergency hearings and permitting the immediate sealing of trusts for those seeking privacy.
“It’s no accident that South Dakota is the nation’s premier trust jurisdiction,” says Mavis Van Sambeek, co-editor of the book, Trust & Estates partner in the Lindquist Minneapolis office, and fellow in the American College of Trust & Estate Counsel. “The State Legislature and Governor’s Trust Law Task Force have spent considerable effort to develop a statutory environment that is friendly to family wealth. Our new deskbook at last combines these trust statutes into an easy-to-use format.”
Mary Akkerman, a Trust & Estates partner in the Lindquist Sioux Falls office, co-edited the deskbook with Van Sambeek.
Complimentary copies of South Dakota Trust Law Deskbook can be requested by visiting Lindquist's News & Events page and accessing the Publications tab.
About Lindquist & Vennum’s South Dakota Trust Law Practice
Wealthy families and family offices turn to Lindquist’s South Dakota Trust Law practice for trust creation, reformations, modifications, decanting, conversions, and a variety of other legal needs. Family office personnel appreciate the group’s collaborative, goal-oriented advice and the close relationships the practice maintains with trust companies and banks who serve as qualified trustees in South Dakota. The group saves clients time and money by drafting documents that readily meet the approval of the major South Dakota banks and trust companies. South Dakota’s flexible trust laws are designed to help clients and their advisors achieve goals that may be impossible or impractical in their home state. Lindquist’s experienced Trusts & Estates attorneys serve as lead counsel, local counsel, or as consultants to fiduciaries, families and their advisors.