Conshohocken, PA -- (SBWIRE) -- 09/08/2014 -- Sterling Trustees is now offering their trust management services with unlimited trust duration and asset protection for fall 2014. Under South Dakota law, the firm is able to offer trusts with no time limits. Many states require all interests to be vested no later than 21 years after the death of the last person living at the time the interest was created. This common law Rule Against Perpetuities was abolished in South Dakota in 1983 so trusts can no longer be terminated before the grantor originally intended. Over thirty years later clients still rely on Sterling Trustees to ensure that they can pass on their values and priorities without the guesswork they would experience in other areas.
With asset protection, holders and their advisors won’t have to worry about their wealth when it comes to creditor inquiry, divorce, or bankruptcy. All of these scenarios can leave money vulnerable, but with asset protection clients will have that much less to worry about. Using this method of maintaining wealth allows clients to pass on their assets to future generations as they intended.
This type of creditor protection for self-settled trusts – a trust created by the beneficiary of the trust – is only available in a few states, including South Dakota. In South Dakota it is required that self-settled trusts be revocable and utilize South Dakota law, the trust administration must be performed in state, at least one of the trustees must be a resident of South Dakota, and at least part of the trust property in question must be located in the state.
For more information on trust management visit the South Dakota trust company online or call 610-234-0626.
About Sterling Trustees
Sterling Trustees is a fee-only trust administration organization with offices in Conshohocken, PA and Sioux Falls, South Dakota. By working independently, the firm allows its clients to avoid the extra costs and conflicts of interest associated with large financial institutions. Sterling Trustees’ main goal is to keep assets safe while remaining objective.
For more information visit http://www.sterlingtrustees.com/