Services for International Families
International families are establishing trusts in the United States at a record pace. This continues a developing trend the founders of SDTC®, Al W. King III and Pierce H. McDowell III, noted when they founded Citicorp Trust South Dakota in 1995 for Citibank and handled the bank's international clients U.S. situs needs.
During their Citibank days, the main reasons for an international family to set-up a U.S. situs trust was if they owned U.S. property or if they had a U.S. green card and/or U.S. citizen family members. Over twenty years later, international clients still seek out U.S. situs for those traditional reasons, however, the international climate both politically and regulatory, have greatly expanded the scenarios why international families are seeking out the U.S.
Consequently, South Dakota, as one of the leading trust jurisdictions in the United States, is frequently chosen by international families looking for U.S. trust situs. Additionally, many of these international families have chosen one of South Dakota's most experienced and largest trust companies, SDTC®, due to its familiarity and extensive experience in serving international clients.
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
- Secrecy wall falling apart globally
- 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
For more information on some of the common reasons why international families are looking for U.S. trust situs, please click here.
Some of the popular domestic trust planning options for international families are: