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Tag: south dakota trusts

Are South Dakota Trusts Immoral “Tax Havens”?

South Dakota has certainly been in the news recently. Coverage of the leaked “Pandora Papers” included headlines like “How South Dakota became a global tax haven,” “South Dakota Is a Moral Sewer and Should Be Abolished,” and...

Asset Protection and the Panama Papers

The release of the Panama Papers has created a number of recent articles critical of South Dakota’s asset protection statues and lack of an income tax. The Panama Papers are over 11 million leaked documents containing sensitive information for 214,000 offshore...

SD, Making Lemonade out of a Lemon

I wrote of the economic decline of the US, from the world’s 3rd to the 18th most free economy in 10 years,  in last week’s column. I ended the column wondering if the US would reverse its slide to economic mediocrity. The...

Asset Protection and Medicaid

We’re pleased to feature a guest post from Tom Simmons, a partner with the Rapid City law firm of Gunderson, Palmer, Nelson & Ashmore, LLP. A Medicaid Irrevocable Income Only Trust (MIIOT; pronounced “my-ott”) is an irrevocable trust with both advantages for long...

South Daktoa Trusts Get Even Better

It appears that South Dakota trust law is even better than I thought.  In a response to my previous blog on SD trust law, Tom Simmons, an attorney practicing in Rapid City, SD, explained to me that I missed the latest improvement to SD trusts. Tom explains that in the...