Question 1

I am not a South Dakota resident; can I still create a South Dakota trust?

Accepted Answer

Yes, you do not have to live in South Dakota to create a South Dakota trust. TrustBridge administers trusts for clients all across the United States and in 28 countries around the world.

Question 2

Does TrustBridge administer Special Needs Trusts?

Accepted Answer

Trust Bridge  does not  administer Special Needs Trusts specifically, but does offer a number of other trust types that can be customized to a family's unique situation.

Question 3

What fees do you charge?

Accepted Answer

TrustBridge offers a flat fee structure with minimums for directed and delegated structures. We provide a suite of services based on client needs determined at on-boarding meeting, so our fees do not fluctuate based on the market or the increased value of trust assets.

Question 4

Is there a minimum account size?

Accepted Answer

Typically, our minimum fees do not provide a significant value-add for clients with trusts under $2M.

Question 5

I already have a trust but it's administered by a bank, can I move it to TrustBridge ?

Accepted Answer

Yes, the terms of your trust document will almost always provide for removal or replacement of the trustee. We are happy to set up a call to discuss the mechanism and process by which you can transition from your bank trustee to Sterling Trustees based on the specific language of your trust document.

Question 6

If I get divorced, can I put my assets in a South Dakota trust to protect them from my soon-to-be ex-partner?

Accepted Answer

No, South Dakota asset protection trusts cannot be funded with assets that are, or are anticipated to be, subject to legal action. Any transfer of assets in anticipation of divorce, lawsuit, or bankruptcy would be considered a fraudulent transfer. South Dakota's look-back period for asset transfers is among the shortest in the nation, but any intent to defraud effectively eliminates all protections provided by state law.

Question 7

Can I keep my name and source of wealth a secret in South Dakota?

Accepted Answer

Yes and No. South Dakota offers the best privacy laws in the nation, but no client or trust is shielded from regulatory oversight and mandatory governmental reporting. Public access to client's private information is another matter, and South Dakota has the only automatic and perpetual seal of trust related court records.

Question 8

Can I keep my current investment advisor?

Accepted Answer

Absolutely. As long as they are a properly vetted and accredited service provider, Sterling will work with them on your behalf.

Question 9

Can you manage my investments?

Accepted Answer

No, TrustBridge  will delegate to an investment advisor or money manager and oversee those third parties to ensure their performance is meeting expectations. Not managing investments is precisely what enables us to remain objective and independent from influence and commission-based profit motivation.

Question 10

If I already have a trust in another state, can I move it to South Dakota?

Accepted Answer

Yes. Moving your trust from another state is surprisingly simple and we would be happy to set up a call to discuss specific details based on the language in your trust document.

Question 11

Can I use my present trust and estates attorney to prepare the trust documents?

Accepted Answer

Yes. TrustBridge  is happy to partner with your own attorney and presently works with many of the nation's top law firms. We are also happy to introduce your attorney to a South Dakota attorney to review any documents that are drafted to ensure they conform to South Dakota law.

Question 12

I am a trusts and estates attorney. Can I continue to work with my client after I refer the family to TrustBridge?

Accepted Answer

Yes. TrustBridge only offers trustee services, not legal advice. As an attorney, your role is critical to the success of the client relationship. Our respective interests as attorney and independent trustee are aligned, not competing.

Question 13

Can you administer trusts that hold illiquid assets?

Accepted Answer

Yes, we administer trusts that hold everything from airplanes and racehorses to closely held business interests and real estate.

FAQ's

Frequently Asked Questions