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Types of Trust Adminstration

An important difference between SDTC and other trust companies/departments is our attitude in working with our clients. SDTC normally fulfills a fiduciary role as a trustee, co-trustee, "delegated" trustee or "directed" trustee working with one or more family members and/or family advisors (i.e., investment managers, CPA's, attorneys, insurance advisors, financial consultants and planners, etc.). SDTC seeks to ensure that all of the individuals involved in the administration and management of the trust, complement each other and provide for the beneficiaries in consideration of their needs.

Many times, a corporate fiduciary will demand or eventually seek total control in carrying out the trustee functions; this is not the case with SDTC. Our objective is not for the individuals, advisors or co-trustees to lose control but rather to gain more control and to be able to execute their roles without being burdened by the trust administration functions. The creation of a newly drafted South Dakota trust or the movement of an existing trust to South Dakota requires not only the trust to be administered in South Dakota, but also special expertise in tax, accounting, non-financial asset management, South Dakota law and other areas, all of which SDTC provides.

In many instances, wealthy families desire a trustee willing to "delegate" certain responsibilities such as investment management (i.e., a delegated trust) or to accept direction from an investment committee and/or distribution committee (i.e., directed trust). "Directed" and "delegated" trusts are best suited in modern trust states like South Dakota.

SDTC efficiently accommodates these scenarios with experienced and knowledgeable administrators as well as state of the art technology. Further, if desired, SDTC can also serve as "full" trustee providing a family with an all-inclusive approach to trust administration. However, regardless of how SDTC can best serve the client, the result is always the same: "flexible, individualized, service-oriented, and cost-effective trust administration."

The information on this Private Trust's website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal and/or tax advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Address:
South Dakota Office: 201 South Phillips Ave., Suite 200, Sioux Falls, SD 57104 Phone: 605 338-9170
New York Office: 10 East 40th St., Suite 1900, New York, NY 10016 Phone: 212 642-8377