Sioux Falls, SD -- (SBWIRE) -- 11/20/2018 -- As a leading South Dakota trust company, Sterling Trustees provides trust administration services with an array of advantages that are special to The Mount Rushmore State. Among the many benefits, trusts in South Dakota are entirely free from state income and capital gains tax.
Prospective clients aren't expected to simply take the company's word for it, either. Sterling Trustees created a Tax Savings Calculator, featured on their website. By entering critical data such as the trust size, remaining term of the trust, and other information, families and attorneys can instantly calculate and see for themselves how much they would save in taxes by setting up or migrating their trust to South Dakota.
The South Dakota tax advantage can have a significant impact on asset growth over the term of the trust by allowing the income/capital gains saved on taxes to be continually reinvested. This compounding effect is quite powerful especially for residents of high tax states such as California, New York and Connecticut. The higher the state's effective income and capital gains tax, the greater the compounding effect.
"A trust that is sitused in any state can be transferred to South Dakota to take advantage of the tax savings; new trusts can, of course, be set up in South Dakota from the start, according to Antony Joffe, President of Sterling Trustees.
Those interested in learning more about what Sterling Trustees can do for them and their assets are encouraged to contact them at 605-593-8950 or visit https://sterlingtrustees.com.
About Sterling Trustees
Sterling Trustees is South Dakota-chartered trust company located in Sioux Falls, South Dakota. By working independently, the firm allows its clients to avoid the extra costs and conflicts of interest associated with large financial institutions. Sterling Trustees' main goal is to keep assets safe while remaining objective.
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