As a result of SDPC and SDTC’s extensive international experience, 15% of SDTC’s clients are international families, representing countries all across the globe.
South Dakota maintains its status as one of the best jurisdictions for international families as a result of its trust statutes (i.e. trust protector, directed trust, privacy, reformation/modification/decanting, forced heir-ship, etc.) no income taxation, low premium tax, and many other favorable statutes.
Some of the more specific and common reasons why international families are looking for U.S. trust situs and a U.S. trustee include:
- Improved U.S. trust and tax laws – Including forced heirship statutes
- Blacklisting of offshore jurisdictions by resident country
- Political stability/protection of property from resident country
- Global transparency
- Ownership in residential and/or commercial property in the U.S.
- Ownership of U.S. securities
- Purchasing U.S. life insurance
- Family members in the U.S.
- Marriage by a U.S. citizen to a non-U.S. resident
- Foreign resident coming to the U.S. to work or live
Some of the popular domestic trust planning options for international families are:
- South Dakota Foreign Grantor Trust with SDTC® as the U.S. Trustee
- South Dakota Foreign Non-Grantor Trust with SDTC® as the U.S. Trustee
- South Dakota Non-Resident Alien (NRA) Domestic Dynasty Trust
- South Dakota Stand-By Domestic Dynasty Trust
- Change of Situs: Offshore Foreign Trust to a Domestic South Dakota Trust
- South Dakota Pre-Immigration Domestic Trust
- South Dakota Private Family Trust Company
For more information on South Dakota as a trust situs for international and cross-border families, please visit Internationalfamilytrust.com.
*Please see: “International Families Increasingly Want U.S. Trusts ” Trusts & Estates Magazine, July 2018; “Domestic Trust Situs Opportunities for International Families” Trusts & Estates Magazine, October 2015.