Podcast Episode 48 – Building a Better Exit: Strategic Planning for Business Owners with Ed Barone

bridgeford-podcast

Episode 48 is available on Bridgeford Trust Company’s Delivering Direction and Control podcast series! Don’t forget, you can now also watch new episodes on our YouTube channel, offering a dynamic way to experience the engaging discussions.

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – is joined by Ed Barone, Business Wealth Advisor at Evergreen Exits (EGexits.com), a specialized division of Evergreen Wealth Solutions. With deep expertise in business transitions and a strong fiduciary focus, Ed’s team is dedicated to helping business owners plan successful exits aligned with their financial and legacy goals.

Together, David and Ed dive into the fundamentals of exit planning – what it is, why it matters, and how it can proactively solve challenges before going to market. From unexpected exits to failed transactions, Ed outlines why early planning is critical, especially since, for many business owners, their business is their wealth. They also explore Ed’s perspective on current market volatility and proposed tariff policies, how those factors are influencing the M&A landscape, and the guidance he’s offering clients as they navigate exit strategies. In uncertain times, Ed stresses the importance of distinguishing between noise and true impact, staying diversified, and staying the course with long-term investment and trust planning goals.

As they conclude, Ed walks listeners through five core exit strategies and the process of choosing the right path forward. It begins with understanding the business owner’s personal, legacy, and employee goals, and then evaluating financial readiness and tax implications to guide decision-making. He also emphasizes the importance of assembling a collaborative team of both planning and transaction advisors to ensure a holistic approach and a smooth, successful transition.

You can listen to our latest episode on Bridgeford’s podcast page, Apple Podcasts, iHeartRadio, Spotify, and SoundCloud—or watch it on our YouTube channel.

Bridgeford Trust Company’s Delivering Direction and Control podcast 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 trust 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. Check out all of our episodes here: bridgefordtrust.com/podcasts.

If you have questions on any of the topics discussed in this latest episode, don’t hesitate to reach out to us via our contact form or call us at (605) 224-9189.

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Bridgeford’s Sioux Falls Office Ribbon Cutting & Reception – May 21

Sioux-Falls-Ribbon-Cutting-2025

Over the past 25 years, Bridgeford Trust Company has evolved from one of South Dakota’s first private trust companies into a public, fully independent, and modern trust company serving the global ultra-high-net-worth and family office space. With all trust administration and corporate governance functions executed through our two South Dakota offices, we’ve proudly expanded our Sioux Falls presence in recent years—first with a new office in 2023, followed by the addition of technical, compliance, and fiduciary expertise to support our continued domestic and international growth.

As Bridgeford Trust Company continues to grow, we’re grateful for the opportunity to remain part of Sioux Falls’ thriving community. To accommodate our expanding team, we’re moving into a larger office space, and we’re excited to celebrate this important milestone with a Ribbon Cutting Ceremony & Reception, held in partnership with the Greater Sioux Falls Area Chamber of Commerce. We look forward to welcoming local friends and colleagues to our new space for an afternoon of connection and celebration!

Event Details

  • Date: Wednesday, May 21, 2025
  • Time: 4:30 PM – 6:00 PM (Ribbon cutting begins at 4:30 PM, followed by a come-and-go style open house with networking and light refreshments.)
  • Location: 101 W. 69th Street, Suite 201, Sioux Falls, SD 57108
  • Please RSVP by clicking here.

We’re incredibly proud to continue growing in Sioux Falls and look forward to celebrating this special occasion with you! For questions or more information, feel free to contact us through our contact page or by calling (605) 224-9189.

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Bridgeford Joins IPCC Miami Global 2025 as Sponsor and Featured Speaker

IPCC-Miami-2025

Bridgeford Trust Company is proud to sponsor the third edition of the International Private Client Conference (IPCC): Miami Global 2025, taking place on April 24, 2025, at the Loews Coral Gables Hotel in Florida. This premier event, themed “Global Strategies for Multigenerational Businesses: Governance and Wealth Planning,” brings together thought leaders and professionals focused on providing strategic planning solutions for high-net-worth individuals and their families.

As part of our continued expansion in the international planning space, Bridgeford is especially excited to sponsor this year’s event and have Mariano Marco, Global Managing Director of Bridgeford Global, in attendance. Mariano will be available at our exhibit table throughout the day and looks forward to connecting with attendees to discuss how Bridgeford’s independent and conflict-free approach offers both domestic and international families a personalized, non-institutionalized solution for trust planning that is Big Enough to Matter, Small Enough to Care.

Mariano will also be speaking at the event as part of an expert panel titled “Planning Alternatives for Operating Businesses and Private Clients.”

Panel Session Details:

The panel will explore innovative solutions for business structuring and private client planning, including the use of trust vehicles, fund-based strategies, and insurance-based structures. Mariano’s insights will reflect Bridgeford’s unique position as a U.S.-based trust company leveraging South Dakota’s modern trust laws to deliver sophisticated and flexible solutions for international families.

If you’re attending the conference and would like to connect with Mariano, feel free to reach out to him directly at mmarco@bridgefordglobal.com. You can also contact our team at (605) 224-9189 or via our contact form with any questions or to learn more about how we support trust planning needs. We look forward to seeing you there!

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Podcast Episode 47 – Turning Estate Plans into Legacy Plans with Tom Rogerson

bridgeford-podcast

Episode 47 is available on Bridgeford Trust Company’s Delivering Direction and Control podcast series! Don’t forget, you can now also watch new episodes on our YouTube channel, offering a dynamic way to experience the engaging discussions.

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – sits down with Tom Rogerson – President & CEO of GenLegCo. Inc. – a recognized leader in family governance. Tom shares how his approach to wealth planning emphasizes preparing families for wealth, rather than just preparing wealth for families, offering guidance on navigating financial responsibilities and ultimately protecting families of wealth from themselves.

As you listen, you’ll hear Tom discuss his “7 Steps to Healthy Family Governance”, a process designed to educate families, foster communication and leadership, and create a long-term vision for their legacy. He also emphasizes the importance of independent trust companies with strong jurisdictional advantages, like South Dakota, to ensure legacy plans remain intact for generations. This long-term approach is why Bridgeford remains fiercely independent, helping families turn estate plans into lasting legacy plans that reflect their shared values and vision.

The conversation explores Tom’s personal journey into this work, and he explains why parents may have the right message but aren’t always the right messenger—and how bringing in a third-party expert who provides objectivity, experience, and knowledge can make all the difference.

You can listen to our latest episode on Bridgeford’s podcast page, Apple Podcasts, iHeartRadio, Spotify, and SoundCloud—or watch it on our YouTube channel.

Bridgeford Trust Company’s Delivering Direction and Control podcast 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 trust 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. Check out all of our episodes here: bridgefordtrust.com/podcasts.

If you have questions on any of the topics discussed in this latest episode, don’t hesitate to reach out to us via our contact form or call us at (605) 224-9189.

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Bridgeford to Host “An Evening in Orange County” on April 29

Orange-County

Bridgeford Trust Company is proud to host An Evening in Orange County—an exclusive gathering bringing together leading professionals across the estate planning, entertainment, and advisory industries. Held in collaboration with Trusted Advisor and STEP Orange County, the evening will offer networking, insightful discussions, and valuable industry perspectives.

Event Details

  • Date: Tuesday, April 29, 2025
  • Time: 5:00 p.m. – 7:30 p.m.
  • Location: thehouse Newport Beach, 2601 W Coast Hwy, Newport Beach, CA
  • Register by clicking here

David Warren, Co-Founder and Chairman of Bridgeford Trust Company, will lead the conversation, joined by thought leaders from Trusted Advisor and STEP Orange County who will share their insights and perspectives throughout the program.

We look forward to welcoming colleagues and friends from across the industry for what promises to be a fun and engaging evening. Space is limited, so be sure to register and secure your spot.

If you have any questions, please reach out to us at info@bridgefordtrust.com. We look forward to seeing you there!

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Dynasty Trusts and Taxation: Building a Sustaining Family Legacy

Dynasty-Trusts-Taxation

In our recent article, “Protecting Families of Wealth from Themselves: Lessons from HBO’s Succession,” we explored how inadequate planning and governance can lead to destructive family dynamics, eroding multigenerational wealth while disrupting harmonious family relations over generations. The Roy family’s struggles serve as a cautionary tale, highlighting the critical importance of strategic trust planning, modern trust laws, and effective family governance—ultimately, protecting families of wealth from themselves.

While the Roy family in Succession struggles with short-term power plays, nefarious activity, and sinister plotting and positioning, a Dynasty Trust provides a stable, long-term solution that removes conflict and uncertainty, ensuring wealth is preserved across multiple generations with the ability to avoid federal estate tax forever.

Dynasty Trusts and South Dakota’s Leading Role

Considered the birth of modern trust law in 1983, South Dakota was the first state to abolish the Rule Against Perpetuities, paving the way for the creation of the Dynasty Trust. A South Dakota Dynasty Trust is a powerful planning tool that preserves family wealth over generations, allowing a trust to live in perpetuity (forever), therefore never subjecting the assets to federal estate taxation through a forced distribution. Through the use of a Dynasty Trust, families can:

  • Reduce the tax burden on successive generations while still providing access to assets during their lifetime.
  • Implement structured control over distributions, ensuring responsible wealth management for future generations.
  • Safeguard family legacies by mitigating common challenges associated with extreme wealth, such as reckless spending, mismanagement, and intra-family disputes.

At its core, a Dynasty Trust serves as the foundation upon which a family legacy is built, helping to prevent the pitfalls associated with extreme wealth. Unlike the Roy family’s drama, where inheritance and power struggles created division, a well-structured Dynasty Trust ensures orderly wealth succession while preserving family harmony.

Additional Tax Advantages in Top-Tier Jurisdictions

Beyond the benefits of a Dynasty Trust, top-tier trust jurisdictions like South Dakota offer additional tax advantages that can enhance overall wealth preservation strategies. These tax advantages include:

  • No State Income Tax / Resident Trust Planning: South Dakota is one of the few states that impose no state income tax on undistributed income, allowing trust assets to grow more efficiently over multiple generations.
  • Non-Grantor Trusts: Families can use completed or incomplete non-grantor trusts to avoid significant state capital gains taxation on low-cost basis assets sold in a South Dakota trust, such as a closely held business or stock.
  • Community Property Trusts: A South Dakota Community Property Special Spousal Trust can provide a 100% step-up in basis upon the death of the first spouse, potentially saving millions in state capital gains taxes over multiple generations.

While the Roy family’s fictional empire is a lesson in what not to do, real-world ultra-high-net-worth families can take a different approach by leveraging South Dakota’s modern trust laws and favorable tax advantages to protect their legacies.

If you have any questions or are looking for further information on Dynasty Trusts or the additional tax advantages we discussed, please reach out to us via our contact form or call us at (605) 224-9189.

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Bridgeford to Sponsor 20th Annual International Estate Planning Institute in NYC

international-estate-planning

Bridgeford Trust Company is proud to once again sponsor the International Estate Planning Institute, hosted by the New York State Bar Association (NYSBA) and STEP New York. Taking place March 27-28, 2025, at the Sheraton New York Times Square Hotel, this premier event brings together global trust and estate practitioners, bankers, and accountants to explore the latest developments in cross-border planning with a U.S. component.

David Warren, Co-Founder and Chairman of Bridgeford Trust Company, will be attending this year’s Institute and looks forward to connecting with fellow professionals navigating the complexities of international estate planning. We’re excited to be part of this important conversation and welcome the opportunity to meet during the conference. Be sure to visit Bridgeford’s exhibit table or reach out to arrange a time to talk!

Why U.S. Trusts Continue to Lead for International Families

The United States remains a preferred jurisdiction for international families, offering powerful modern trust law solutions in top-tier jurisdictions such as South Dakota.

We invite you to watch our webinar: The U.S. as the International Trust Jurisdiction of Choice for Privacy, Asset Protection, and Tax Planning. In it, our team examines worldwide factors for the historic movement of money into the U.S., objectively compares the leading top-tier U.S. trust jurisdictions, and discusses in greater detail the unique planning solutions mentioned above, providing valuable insights for advisors and international families to consider when selecting the best U.S. trust situs.

If you’re attending the Institute and would like to connect with David or learn more, contact us at (605) 224-9189 or via our contact form. We look forward to seeing you in NYC!

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The End of the Corporate Transparency Act?

corporate-transparency-act-cta

On March 2, 2025, the U.S. Department of the Treasury reaffirmed FinCEN’s recent announcement, explicitly stating that no fines or penalties would be imposed on U.S. citizens or domestic reporting companies under the existing filing deadlines or upcoming rule changes. In short, for now, only foreign reporting companies remain subject to CTA enforcement, while domestic businesses are no longer required to file beneficial ownership reports with FinCEN.

FinCEN has also stated that it will explore ways to reduce the regulatory burden on small businesses. While changes are forthcoming, the agency maintains that beneficial ownership information will continue to play a role in national security and law enforcement efforts. Revised regulations are expected later this year, incorporating feedback from small businesses to refine the reporting framework.

As these regulatory shifts unfold, it remains crucial for businesses to stay informed and consult their legal counsel to ensure they are prepared for any future changes.

We will continue to monitor these developments and share updates as more information becomes available. For the latest insights, visit our CTA Resource Page, or feel free to contact us with any questions at (605) 224-9189 or via our contact form.

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BOI Reporting Under the CTA: Deadline Extended but Requirements Return

CTA-BOI-Reporting

The Corporate Transparency Act (CTA) continues to evolve as legal challenges and regulatory adjustments reshape its enforcement. On February 18, 2025, the U.S. District Court for the Eastern District of Texas issued a ruling in Smith v. U.S. Department of the Treasury, effectively reinstating the beneficial ownership information (BOI) reporting requirements under the CTA.

Recognizing that reporting companies may need additional time to comply, the Financial Crimes Enforcement Network (FinCEN) has extended the BOI reporting deadline by 30 days from February 19, 2025. This extension applies broadly, with some exceptions.

Updated BOI Reporting Deadlines

  • March 21, 2025: The new deadline for most reporting companies to file their initial, updated, or corrected BOI reports.
  • Later deadlines apply where applicable: Companies previously granted extensions beyond March 21, 2025 (i.e., due to disaster relief provisions) should follow their original extended deadline.
  • Exemptions remain in place: Plaintiffs in National Small Business United v. Yellen, including members of the National Small Business Association (NSBA) as of March 1, 2024, are not required to report their BOI at this time.

The legal and regulatory landscape surrounding the CTA remains fluid, and businesses should stay informed and consult their legal counsel for guidance.

We will continue monitoring developments and provide updates as they become available. Visit our CTA Resource Page for the latest information, and if you have any questions or need assistance, please reach out to us via our contact form or by calling (605) 224-9189.

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Bridgeford to Sponsor STEP Global Congress in Rome

step-global-congress

Bridgeford Trust Company is proud to sponsor STEP Global Congress 2025, taking place February 25-26 in Rome, Italy. As we navigate an era of evolving societal values and complex global challenges, this event brings together thought leaders and industry experts to engage in meaningful discussions about the future of our industry under the theme “Tomorrow’s Wealth – Reshaping the Conversation.”

David Warren, Co-Founder and Chairman of Bridgeford Trust Company, will be attending and looks forward to connecting with attendees on the challenges and opportunities ahead. As an independent, conflict-free trust company, Bridgeford Trust Company continues to embrace a new trust industry paradigm, offering domestic and international families a personalized, non-institutionalized approach while leveraging South Dakota’s powerful modern trust laws.

Trust Planning for International Families: The South Dakota Advantage

The United States continues to be the jurisdiction of choice for international families because of modern trust law planning tools available in top-tier jurisdictions such as South Dakota. At STEP Global Congress, David looks forward to discussing key planning considerations with attendees, including:

If you’re attending STEP Global Congress or would like to learn more about Bridgeford’s innovative trust solutions, reach out to us at (605) 224-9189 or via our contact form.

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