Delivering Direction and Control Podcast Series – Episode 12 with Jamie Vrijhof-Droese

Episode 12 is now available on Bridgeford Trust Company’s Delivering Direction and Control Podcast Series! Head on over to our podcast page at bridgefordtrust.com/podcasts to hear the latest episode!

Episode 12 features David Warren – Co-Founder/Chairman of the Board of Bridgeford Trust Company and President/CEO of Bridgeford – and guest, Jamie Vrijhof-Droese – Managing Partner at WHVP – for a discussion on WHVP’s origins, focus, and services as well as their work with U.S. citizens. David and Jamie go on to discuss the COVID crisis and its impact on their investment approach.

Our Podcast Series was developed to educate, challenge, and inspire listeners. As we interview experts in the trust planning arena, we keep listeners updated on developments regarding modern trust law and provide practical discussion on the powerful planning opportunities available to advisors around the country and the world – all in an effort to deliver far more direction and control to clients and their advisors than ever before.

You can listen on our podcast pageSoundCloudiTunesSpotifyGoogle Play, and iHeartRadio. We hope you enjoy Episode 12!

Webinar Recap – Finding Certainty in Uncertain Times: The Power of Modern U.S. Trust Law and Trust Situs Selection

This webinar was originally produced on Wednesday, September 30, 2020. We hope that you enjoy the full recording of the presentation and additional resources offered below.

The extreme uncertainty created by the ongoing COVID crisis and upcoming presidential election renders many large families and their advisors seeking certainty and stability relative to tax, privacy, and asset protection planning. Unquestionably, proper trust situs selection and the ability to avail themselves of powerful modern trust laws, while maintaining direction and control, is perhaps more important now than ever for domestic and international families.

During this webinar, David Warren, Co-Founder and Chairman of Bridgeford Trust Company, explored achieving certainty in an uncertain world through proper trust situs selection and the powerful capabilities and flexibility of modern U.S. trust law.

This webinar:

  • Examined the importance of situs selection and explored comparison points, including a discussion on the importance of a state’s fiscal soundness coming through the COVID crisis and presidential election.
  • Explored the unregulated v. regulated trust company models, and why the regulated trust company is far superior during these uncertain and turbulent times.
  • Considered powerful federal and state tax planning and asset protection strategies using modern trust law that can deliver great certainty during uncertain times, and how to quickly implement before year end.
  • Examined planning tools such as the directed trust and trust protector concepts that deliver a great deal of control and direction to settlors of trust, beneficiaries, and their advisors over vital aspects of trust creation and administration.

 

You can download a copy of the slides by clicking here.

If you have any questions regarding the material covered in this webinar, please contact us via our contact page.

Delivering Direction and Control Podcast Series – Episode 11 with Cresset Capital Management

Episode 11 is now available on Bridgeford Trust Company’s Delivering Direction and Control Podcast Series! Head on over to our podcast page at bridgefordtrust.com/podcasts to hear the latest episode!

Episode 11 features David Warren – Co-Founder/Chairman of the Board of Bridgeford Trust Company and President/CEO of Bridgeford – and guests, Avy Stein – Founder and Co-Chairman – and Sarah SimonDirector, Wealth Strategist and Wealth Advisor – from Cresset Capital Management. During the episode, we discuss Cresset’s vision on reinventing wealth management, and, very much like Bridgeford, embracing a totally new wealth management paradigm. This episode also explores how Cresset leads with planning and surrounds clients with a full team to serve them and offer big ideas such as South Dakota’s trust capabilities in terms of tax planning, asset protection, and modern trust laws.

Our Podcast Series was developed to educate, challenge, and inspire listeners. As we interview experts in the trust planning arena, we keep listeners updated on developments regarding modern trust law and provide practical discussion on the powerful planning opportunities available to advisors around the country and the world – all in an effort to deliver far more direction and control to clients and their advisors than ever before.

You can listen on our podcast pageSoundCloudiTunesSpotifyGoogle Play, and iHeartRadio. We hope you enjoy Episode 11!

South Dakota’s Dynasty Trust

South Dakota was the first state in the nation to abolish the Rule Against Perpetuities in 1983, clearing the way for the creation of the Dynasty Trust. A Dynasty Trust, not available in all states, is a powerful planning tool that essentially allows a trust to live in perpetuity (forever), therefore never subjecting the assets to federal estate taxation through a forced distribution.

Watch the video below to learn how Dynasty Trusts work and why South Dakota has been ranked as the top Dynasty Trust state in the nation by Nevada attorney, Steve Oshins.

For more information regarding Dynasty Trusts, please contact Bridgeford Trust via our contact page.

Webinar – Finding Certainty in Uncertain Times: The Power of Modern U.S. Trust Law and Trust Situs Selection

Bridgeford Trust Company invites you to join us for this free one hour-long webinar on Wednesday, September 30th at 2pm EST.

The extreme uncertainty created by the ongoing COVID crisis and upcoming presidential election renders many large families and their advisors seeking certainty and stability relative to tax, privacy, and asset protection planning. Unquestionably, proper trust situs selection and the ability to avail themselves of powerful modern trust laws, while maintaining direction and control, is perhaps more important now than ever for domestic and international families.

During this webinar, David Warren, Co-Founder and Chairman of Bridgeford Trust Company, will explore achieving certainty in an uncertain world through proper trust situs selection and the powerful capabilities and flexibility of modern U.S. trust law.

This webinar will:

  • Examine the importance of situs selection and explore comparison points, including a discussion on the importance of a state’s fiscal soundness coming through the COVID crisis and presidential election.
  • Explore the unregulated v. regulated trust company models, and why the regulated trust company is far superior during these uncertain and turbulent times.
  • Consider powerful federal and state tax planning and asset protection strategies using modern trust law that can deliver great certainty during uncertain times, and how to quickly implement before year end.
  • Examine planning tools such as the directed trust and trust protector concepts that deliver a great deal of control and direction to settlors of trust, beneficiaries, and their advisors over vital aspects of trust creation and administration.

One “Tax” CPE credit is available for this webinar and the CPE is sponsored and provided for by McKonly & Asbury. The level for this CPE is intermediate and there are no prerequisites for attending. This program is a live webinar which offers you the opportunity to ask questions and interact with the presenter.

We look forward to you joining us!

Bridgeford Trust featured on Swiss Asset Management Talk Podcast

WHVP, an independent asset manager located in Zurich, Switzerland, recently interviewed David A. Warren, Co-Founder and Chairman of Bridgeford Trust Company on their podcast, Swiss Asset Management Talk.

The podcast features individuals in the financial industry and explores topics related to offshore banking and registered investment advisors. During the podcast, Jamie Vrijhof-Droese, Managing Partner at WHVP, talks with David about Bridgeford Trust Company’s independent boutique approach, how to select a U.S. trust jurisdiction, and why South Dakota is the best option. You can listen to the full episode by clicking here.

Bridgeford Trust Company works closely with WHVP as they specialize in managing the funds of private clients. WHVP is registered with the Securities and Exchange Commission of the United States of America and associated with several first-class private banks in Switzerland and Austria which act as custodian for their client accounts. WHVP’s asset management principles are guided by conservative, long-term oriented capital preservation strategies, and their focus is on personalized service. You can learn more about their firm at: https://www.whvp.ch/.

South Dakota’s Privacy Advantage

Privacy is of paramount concern to wealthy families which is one of the primary reasons billions of dollars have been and are being moved into South Dakota for trust administration from across the nation and around the globe. Most states do not have provisions protecting trust information from being revealed to beneficiaries or to the public during litigation, and those that do pale in comparison to South Dakota’s robust trust privacy law, as indicated by Trusts & Estates Magazine in January of 2020,

“Of the top tier trust jurisdictions, South Dakota has the best trust privacy laws.”

For more information on South Dakota’s privacy advantage, click here. And as always, reach out to our team with any additional questions via our contact page.

U.S. Trust Jurisdiction Selection: An Objective Chart Comparing “Top Tier” Jurisdictions

As we continue to move through and out of the pandemic crisis, selecting proper trust jurisdiction has never been more important with respect to compelling tax planning opportunities, asset protection, privacy, fiscal soundness, and powerful modern trust laws, all delivering more direction and control to settlors of trusts, beneficiaries, and their advisors than ever before.

Bridgeford Trust Company produced an objective and well-researched chart comparing “top tier” U.S. trust jurisdictions, with a particular emphasis on these areas that clearly distinguish South Dakota as the superior trust jurisdiction in the overall analysis. You can download the chart by clicking here, and be sure to watch the video below to learn more.

For more information about South Dakota’s advantage, click here. As always, contact Bridgeford Trust via our contact page with any questions or for additional information.

Bridgeford Trust Company Named a Finalist for WealthManagement.com’s 2020 Industry Awards

Bridgeford Trust Company is proud and honored to announce that we have again been named a finalist by WealthManagement.com for their 2020 Industry Awards. WealthManagement.com, considered the leading resource for wealth advisors and planners, produces the only awards program of its kind to honor outstanding achievements by companies and organizations that support financial advisor success. The 2020 Industry Awards received a record number of nominations – this year, more than 625 entries were received from more than 200 companies.

David A. Warren, Co-Founder and Chairman at Bridgeford Trust Company, states:

“Bridgeford Trust Company is thrilled to be recognized again this year, among many excellent providers, for our outstanding and multifaceted digital media education platform, as well as our great work with domestic and international families seeking sophisticated and progressive trust solutions.”

Bridgeford Trust Company’s nomination recognizes its very successful digital media education initiative, “Modern Trust Law: Educating the World by Harnessing the Power of Digital Media.” The objective and focus of the program is to provide timely, relevant, and reliable education about powerful modern trust law planning tools through engaging a myriad of social and digital media platforms, including a dedicated YouTube channel and highly successful podcast series, available on iTunes, Spotify, iHeartRadio, and other podcast service providers. The initiative has been well received, earning praise from advisors and families across the nation and around the world. During the COVID-19 pandemic, Bridgeford Trust Company’s multi-disciplinary approach proved to be particularly impactful for families and advisors looking for sophisticated trust planning solutions during one of the must uncertain economic and unprecedented financial times in history.

A panel of independent judges made up of top names in the industry will determine the 2020 award winners, who will be announced at a virtual awards event on September 10, 2020. For more information about the event and our initiative, please reach out to us via our contact page.

U.S. Trust Situs Selection in Unprecedented Times: The Vital Importance of Fiscal Soundness During and Post COVID-19

Selecting the proper U.S. trust jurisdiction in the planning process is perhaps more important now than ever as the nation and world navigates the COVID-19 crisis and soon emerges into a new “normal” socially, politically, and economically. Undoubtedly, the nation and world will recover, heal, and be stronger than ever because of the sheer power, adaptability, and unbreakable will of the human spirit.

The federal and state governments across the nation have taken swift historic action to support struggling businesses and families. These actions, and the hard work of many great political leaders, have been inspiring to watch over the past several weeks as thousands of businesses and families are helped across the nation by federal and state government funded support measures. However, the difficult reality is that state governments across the nation are dealing and will deal with extremely difficult economic issues in the aftermath of tremendous spending. As reported in the The New York Times,

“State governments are facing a fiscal crisis born of collapsing revenues, increased demand for safety-net programs like Medicaid, and the direct costs of leading the COVID-19 response.”

Therefore, as we look to wealth and trust planning in a post COVID-19 world, a critically important factor to consider when selecting proper U.S. trust situs will be a state’s fiscal soundness and stability. Currently, top tier trust jurisdictions like South Dakota have no state income tax, which is one of the factors that renders the state so attractive to planners. However, there is no guarantee this will always be the case, particularly during these unprecedented and uncertain times, which is why evaluating the fiscal strength of a state when selecting a trust jurisdiction is more essential now than ever.

An objective evaluation, considering multiple factors, reveals that South Dakota unequivocally entered the COVID-19 crisis as the most fiscally sound of all the top tier trust jurisdictions and has the greatest likelihood to be the strongest and most stable post crisis.

With respect to the likelihood that South Dakota will ever impose a state income tax, even after the COVID-19 crisis, consider these factors:

  • South Dakota did not shut down business or commerce to the degree or severity as most other states during the crisis, therefore maintaining jobs, essential tax revenue, and not placing strain on the state’s “safety-net” programs.
  • South Dakota has a constitutional prohibition against estate and inheritance taxes and requires a 2/3 vote of both houses of the legislature to impose an income tax.
  • South Dakota has had a balanced budget each year since statehood and again has one this year.
  • Despite having no income tax, South Dakota entered the crisis ranking 1st out of all 50 states according to The Pew Charitable Trusts research and analysis with respect to tax revenue volatility with an extremely stable state income stream (Alaska is 50th, Wyoming 48th, Delaware 38th, Nevada 29th, and New Hampshire 7th).  1
  • In terms of debt and unfunded retirement costs with public pensions over 100% funded, South Dakota entered the crisis ranking lowest of all states at 1st (Alaska is 50th, Delaware 43rd, Nevada 32nd, New Hampshire 26th, and Wyoming 10th). 2
  • South Dakota entered the crisis ranking in the top 10 in budget surpluses for how long the state can run on just rainy day funds. 3
  • South Dakota entered the crisis with a AAA bond rating by all 3 rating agencies, indicating a very strong state government and fiscal presence. 4
  • In 2018, the nonprofit Mercatus Center at George Mason University ranked all the states by fiscal condition considering a number of factors, including cash solvency, budget solvency, long run solvency, service level solvency, and trust fund solvency. South Dakota ranked as 2nd, just behind Nebraska (Wyoming is 6th, Nevada 10th, Alaska 11th, New Hampshire 12th, and Delaware 44th).  5
  • Finally, South Dakota entered the crisis the second highest bank assets in the nation, only slightly behind Ohio, reporting in excess of $3.16 trillion, ahead of New York and every other top tier trust jurisdiction.

When planning for families post the COVID-19 crisis, the fiscal soundness of a state is a critically important factor to consider in conjunction with a careful comparison of each state’s trust laws. South Dakota’s powerful modern trust law and its relative fiscal soundness and stability, when compared with that of other top tier jurisdictions in the aggregate, clearly indicates that it is the superior jurisdiction in the nation and the most compelling choice for trust situs in a post COVID-19 economic world.

For more information regarding fiscal soundness and its importance while selecting trust jurisdiction, please contact Bridgeford Trust via our contact page.

 

 

https://www.pewtrusts.org/en/research-and-analysis/articles/2018/08/29/tax-revenue-volatility-varies-across-states-revenue-streams.
2 
https://www.pewtrusts.org/en/research-and-analysis/data-visualizations/2014/fiscal-50#ind4
https://www.pewtrusts.org/en/research-and-analysis/data-visualizations/2014/fiscal-50#ind5
https://en.wikipedia.org/wiki/List_of_U.S._states_by_credit_rating
https://www.mercatus.org/publications/urban-economics/state-fiscal-rankings?utm_source=twitter&utm_medium=social&utm_campaign=fiscalrankings2018