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Selecting Modern Trust Structures Based on a Family’s AssetsSelecting Modern Trust Structures Based on a Family’s Assets

A round-up of the available options.

27 Min Read
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Trusts have grown enormously in popularity since the mid-1990s as a result of the development of modern trust laws, the dramatic increase in wealth and evolving family needs and goals.1 Modern trust laws promote many key desires of a client’s estate planning, such as flexibility, control, tax savings, asset protection, family values, governance, succession, education and privacy.2 However, when designing and structuring a client’s estate plan, these key desires may not be properly coordinated with the selection of trustees, the type of trust and the type of trust administration. The assets funding the trust are another key factor that often gets overlooked.3

Assets funding trusts can be quite diverse, particularly as an individual’s net w...

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About the Authors

Al W. King III

Co-Founder, Co-Chairman and Co-Chief Executive Officer, South Dakota Trust Company

 

Al W. King III is the Co-Founder, Co-Chairman and Co-Chief Executive Officer of South Dakota Trust Company, LLC (SDTC) and based in the New York City office. SDTC is a national trust boutique for the wealthy headquartered out of Sioux Falls, South Dakota serving clients nationally and internationally.

Mr. King was previously Managing Director and National Director of Estate Planning for Citigroup. Mr. King was also the Co-Founder and Vice Chairman of Citicorp Trust South Dakota. Mr. King also previously served as Director of Financial and Estate Planning for Coopers and Lybrand in Stamford, Connecticut.

Prior to joining Coopers and Lybrand, Mr. King was a Vice President and Director of Financial and Estate Planning with Shawmut Bank and the Northeast Director of Financial and Estate planning for Prudential-Bache Securities. Mr. King was also a Senior Staff Attorney/Financial Counselor with the AYCO Corporation, a fee-based financial counseling firm.

Mr. King is the Co-Vice Chairman of the Editorial Board of Trusts & Estates Magazine. He has been a member of the Editorial Board for 20 years. Mr. King has been inducted into the National Association of Estate Planners & Councils (NAEPC) Estate Planning Hall of Fame as an Accredited Estate Planner (AEP), Distinguished. In addition, Mr. King currently serves on the Board of Directors for NAEPC and is the Chairman of the NAEPC Foundation Advisory Board. He is also a member of several groups and organizations including the Society of Trust and Estate Professionals (STEP), the International Association of Advisors in Philanthropy (AiP), New York Philanthropic Advisors Network (NYPAN), Fairfield County and New York City Estate Planning Councils, etc. In addition, he is frequently published and quoted by several publications on various Estate Planning topics and addresses several professional organizations, special interest groups, and general audiences on the subject of estate and financial planning.

Mr. King received a Bachelor of Arts cum laude from Holy Cross College, a Juris Doctor from Syracuse University Law School and an LL.M. in Tax Law from Boston University School of Law.