South Dakota Situs

No state income tax. No capital gains. No inheritance tax. A self-settled asset protection trust rule. There are several reasons why Trust & Estate magazine  has repeatedly declared South Dakota to be the most favorable situs for trusts, and we just gave you four of the best.

Now that you know where to place your trust, it’s time to find the team to initiate and manage your accounts. On top of our wealth of experience, Security National Bank of South Dakota’s Wealth Management team has two convenient locations in South Dakota, ready to serve you.

Contact us to learn more.

Financial Decanting

Individualizing benefits for multiple beneficiaries.

Like decanting wine into smaller vessels, financial decanting is when a trust distributes its funds to other trusts when certain conditions are met. Decanting is most commonly used for trusts subdivided into individual beneficiaries, allowing the trust investments a level of privacy and responsiveness to tax situations. Not all jurisdictions allow this however South Dakota does, and Security National Bank of South Dakota has experience in decanting complex trust situations.

Domestic Asset Protection Trusts

Protect your assets. Preserve your future.

Unforeseen litigation can devastate a a person's financial plan. In addition to creditor protection benefits, domestic asset protection trusts (DAPTs) offer estate planning benefits, income, and estate tax benefits. If you are interested in setting up a domestic asset protection trust, South Dakota offers many benefits as your trust situs, and Security National Bank of South Dakota is of the most experienced in South Dakota asset protection trusts.

Ready to see how our asset protection trusts can help protect you? Let’s get started.

Dynasty Trusts

Trusted for generations.

When you want to ensure that your financial legacy lasts for your grandchildren’s grandchildren, a dynasty trust is a long-term wealth management solution that's designed to maximize your estate while minimizing the tax footprint for you and your beneficiaries. A dynasty trust is a trust created to pass your wealth through the generations without incurring transfer taxes such as estate and gift taxes.

 The state of South Dakota has created a favorable environment for dynasty trusts, allowing the estate to maintain its assets and disperse to multiple generations without substantial losses to cumulative estate taxes. Security National Bank of South Dakota’s Wealth Management advisors have extensive experience in helping families execute plans that achieve their goals, now and for decades and generations in the future.