Company Profile
 

South Dakota Trust Company LLC


Contact Information:
South Dakota Trust Company LLC
51 East 42nd Street
Suite 701
New York NY, 10017
212-642-8377
www.sdtrustco.com

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Description:
With more than $9 Billion in assets under administration and $60 Billion in assets under agency, South Dakota Trust Company, LLC (SDTC) works with clients globally providing cost-effective, service-oriented trust administration utilizing South Dakota law (i.e. best light regulation Private Family Trust Company statutes and services, no state income tax, unlimited trust duration statute (since 1983 and following the Murphy case), lowest state premium tax, asset protection (Self Settled and the only state with Third Party Beneficiary Statute) excellent directed trust and trust protector statutes, top rated modification/reformation and decanting statutes and process, only state with total seal trust privacy statutes, excellent international statutes, etc.)


SDTC does not manage or advise regarding investment assets, but works with all outside investment managers and custodians of the client’s choice. SDTC also administers all types of non-financial assets (i.e. LLCs, FLPs, closely-held businesses, real estate, off-shore entities, etc.) In summary, South Dakota Trust Company combines the best of class investment advisors chosen by the clients with open architecture trust administration and the best trust, tax and asset protection laws in the U.S.


SDTC can assist a family or a family office to establish a cost effective trust company pursuant to South Dakota law by serving as Corporate Agent. In this capacity, SDTC plays a de minims role that gives the families the “minimum statutory contracts” they need to get through the application process with South Dakota’s regulatory group, the Division of Banking as well as maintain an ongoing minimal relationship with SD. In this arrangement, SDTC enters into three contracts with the respective family office:


1. A lease for office space

2. A service agreement (discussing installation of a phone line, answering the phone, vault space, forward mailing, et al)

3. An arrangement for an officer of SDTC to serve as the one required South Dakota PFTC Board Member. (Minimum of 3 board members is required with a maximum of 12 - one board member must be from South Dakota.)


Although the role of Corporate Agent will allow for a South Dakota PFTC, it may not be sufficient to justify South Dakota trust situs unless the trusts are also administered in South Dakota. Consequently, SDTC can also act as Trustee Agent to the Private Family Trust Company as trustee in order to accomplish this objective. As Trustee Agent, SDTC can provide South Dakota trust administrative services as well as assistance with regulatory/compliance issues, trust accounting and/or custody services. SDTC works with a family’s existing custodian in most cases.
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