South Dakota is best known for its world-class trust, privacy, tax, and asset protection laws. It was the first state in the United States of America to introduce a trust protector statute. In 1983, it abolished the common law rule against perpetuities, thereby allowing trusts to be established in perpetuity.
Located in Sioux Falls, Amicorp Trustees (South Dakota), LLC offers trustee services for South Dakota Trusts, both directed and delegated. These are excellent wealth management vehicles that provide a wide range of unparalleled benefits for individuals and families.
Advantages of South Dakota:
- Modern trust laws
- Unlimited trust duration
- Cost-effective, swift, and private process for decanting, modifying, or reforming a trust (twenty days for a trust decanting, one of the shortest periods in the world)
- Automatic, total, and perpetual seal on trust matters involving courts, meaning comprehensive privacy for all trust parties
- No state income, capital gains, dividends, interest, or intangible taxes; no county or municipal trust taxation; no state ad valorem tax; no state coupon tax; no state generation-skipping transfer tax; no state gift tax; no state inheritance tax; insurance premium state tax of eight basis points (one of the lowest rates in the country); no state tax on LLCs or LPs; no state tax on personal property
- Strong asset protection laws, including those preventing forced heirship claims under the laws of non-US jurisdictions
Languages spoken: English.