Trusts & Estates
South Dakota Domestic Asset Protection Trust Legislation
By: Heath Oberloh, Esq.
South Dakota recently enacted changes to its Domestic Asset Protection Trust (DAPT) statutes which will further strengthen South Dakota’s status as one of the premier trust jurisdictions in the United States. South Dakota has created a balance between the certainty and creditor protection desired by planners and the equity inherent in marital dissolution proceedings in a way that provides greater certainty and security. This procedure ensures that spouses are appropriately informed of the details of the proposed transfer of marital assets before their rights in those marital assets may be affected. This notice and opportunity to object also provides grantors and advisors greater assurance that the planning steps will be respected if reviewed by a court in a non-DAPT jurisdiction.
To learn more about South Dakota Domestic Asset Protection Trust, please fill out the form below.
Complete the form to get your free guide
Cryptocurrency and Estate Planning
Download the free Insight Brief, "Planning for Virtual Currencies" to learn virtual currency reporting requirements, techniques for exiting large gain positions, advising clients on capital gains, and more!Learn More
Domestic Asset Protection Trusts after Toni 1 Trust
Domestic Asset Protection Trusts (DAPT) have been a useful estate planning tool to help clients protect their assets from creditors. Download this paper now and learn why it has become vital for estate planners to adequately counsel clients in non-DAPT states wishing to fund their DAPT with non-DAPT state property.Learn More
Drafting Third-Party Spendthrift Trusts after U.S. v. Harris
U.S. v Harris changed the game for estate planning attorneys drafting spendthrift trusts. Get the facts in this brief.Learn More