Conshohocken, PA -- (SBWIRE) -- 05/06/2016 -- Sterling Trustees, a South Dakota-chartered trust administration company, recently advised asset owners who are reviewing their trust administration options that location matters. Not only are there benefits to choosing an independent trust administration service, but there are particular advantages posed by working with one based in South Dakota, says Sterling Trustees. The company offers this information to help prospective clients make educated decisions about managing and protecting their assets.
South Dakota trust administration provides valuable asset protection to clients of companies based in the state. This is due to the fact that South Dakota has some of the most flexible and advanced trust and tax laws in the United States. One distinct advantage of a South Dakota-based trust is that the state provides for an unlimited trust duration, as opposed to the limited durations imposed by most states in the country. This prevents the termination of the trust from occurring before the grantor intended.
Additionally, South Dakota offers state-level tax advantages and savings for grantors and beneficiaries of trusts. The state of South Dakota has no state income tax for trusts, and imposes no additional capital gains, corporate income, interest, personal property, or inheritance taxes. Furthermore, whereas the average state insurance premium tax averages out at 200 basis points, in South Dakota this tax is only 8 basis points, the lowest in the nation.
Finally, South Dakota's privacy statutes regarding trusts are some of the most thorough in the nation. Aspects of a trust such as its size, assets, and terms may be kept from public record, and are not required to be publicly filed. If filings containing information about the trust must be filed with the court, they can then be sealed from public view forever.
View a full list of the benefits of a South Dakota-based trust by viewing Sterling Trustees' whitepaper. Visit http://www.sterlingtrustees.com to learn more about this independent trust administration company.
About Sterling Trustees
Sterling Trustees is a fee-only trust administration firm located in 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, please visit http://www.sterlingtrustees.com.