The State of South Dakota has developed the reputation of being a national leader in trust jurisdictions among industry experts, including citations as the number one trust jurisdiction by Trust and Estates Magazine in 2007 and again in 2012.
- The State of South Dakota does not impose any form of taxation on trusts; no state income tax, no state dividend or interest tax, no state capital gains tax or other intangible tax.
- South Dakota has no limit on the life of a trust. Trusts can exist in perpetuity. There is no requirement that trusts must terminate within a specified period of time.
- South Dakota has, and continues to update and modernize, laws to allow for unique/modern trust administration advantages.
- South Dakota has enacted specific statutes for “asset protection trusts”. The statutes offer substantial protection from creditors of trust beneficiaries.
- The privacy of trusts administered in South Dakota is a very important priority. Trusts do not have to be filed publicly and therefore, the privacy of a trust is maintained.
- South Dakota has a very low insurance premium tax; therefore, trusts utilizing insurance benefit greatly.
Within this context, Expedition Trust meets the highest standards of performance. Priorities are:
- Technical competence
- Accessibility and high-touch responsiveness
- Reasonable flexibility within the confines of the trust instrument and fiduciary relationship
- Financial stability
- Regulatory credibility
- Commitment to a long-term presence in the market