17
Aug
The Trust Capital of the U.S. – South Dakota
I’ve long extolled the virtues of South Dakota to my friends around the country. Typically my pontificating falls on deaf ears. They visualize South Dakota as being a barren waste land next to the Arctic Circle, void of paved roads, airports, and the Internet. If only they knew!
Outside of having the second strongest economy in the US, no income tax, no corporate tax, no inheritance tax, and continuously rated as one of the top “business friendly” states in the nation, we are also the best state in which to establish a trust.
You can find out why trust companies are abandoning other states to set up shop in South Dakota by clicking here.
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Rick Kahler, Certified Financial Planner™, MS, ChFC, CCIM, is president & founder of
jerry Says:
Very interesting! I only wonder how big the apple can grow before the state wants a bite from the apple?
August 17th, 2010 at 7:52 am
frank Says:
alaska is better for trusts…they can last longer and have better protection. (and I live in Texas)
August 17th, 2010 at 6:32 pm
Rick Kahler Says:
Frank, Can you expound? South Dakota trusts last to perpetuity, which is infinity, so I doubt Alaska beats that. Explain how they have more protection, please.
August 17th, 2010 at 7:54 pm