Episode 45 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 – reconnects with Callan Family Office, speaking with Lisa Clifford and Jeff Getty, Co-Managing Directors of the company’s Business & Transaction Advisory Practice. Following Callan Family Office’s first podcast appearance, which introduced the company’s unique approach to investment management and philanthropy, this episode explores the intricacies of Lisa and Jeff’s specialized practice and the strategies they use to guide business owners through pivotal transitions.

Listen in as Lisa and Jeff share their journey to Callan Family Office, explaining why they transitioned their practice and how it has flourished since. They discuss their focus on guiding business owners through various stages of the company lifecycle with tailored planning to achieve optimal tax outcomes during pre-sale, sale, and post-sale phases. Their “Tax Trilogy” framework addresses income, state, and transfer tax considerations while leveraging strategies like NIMCRUTs, CLATs, and INGs.

Beyond technical strategies, Lisa and Jeff highlight the “soft side” of their practice, emphasizing the value of building strong client relationships and meeting them where they are in their journey. As the episode concludes, they offer practical advice on when business owners should engage advisors like themselves to ensure a successful exit strategy.

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.

Bridgeford Trust Company recently teamed up with LumiQ – a podcast platform featuring engaging conversations with business leaders and providing verified CPE to professionals nationwide. The episode “Jurisdiction Matters! Tax Planning with Modern Trust Law” is now live on LumiQ and explores how choosing the right jurisdiction for your trust is more critical than ever for tax efficiency and legal protection.

In this episode, David Warren, Co-Founder and Chairman of Bridgeford Trust Company, shares his expertise on the importance of trust jurisdiction selection in wealth management. He delves into case law, trust structures, and the top jurisdictions for setting up trusts.

Key topics include:

• The significance of trust jurisdiction from a tax planning perspective.
• Key court cases influencing trust law and taxation.
• Various trust structures and their tax benefits.
• The role of trust companies in managing trust jurisdictions.

Tune in to gain valuable insights and discover why trust jurisdiction selection matters now more than ever. Listen here to the episode on LumiQ. And if you’re new to LumiQ, be sure to take advantage of our free trial link to get 5 credits – perfect for catching this episode and exploring a few others!

For any questions about the topics discussed, don’t hesitate to reach out to us via our contact page or by calling (605) 224-9189.

Bridgeford Trust Company is participating in several events over the coming weeks. From coast to coast, we’ll be connecting with industry leaders and professionals at the NAEPC Advanced Estate Planning Strategies Conference, the STEP Miami Summit, and the Hawaii Tax Institute.

These conferences provide a great platform for meaningful discussions on critical issues including estate planning, regulatory changes, global market trends, and broader financial strategies. We look forward to engaging with our friends and making new connections. Keep reading for more details and reach out if you’d like to meet with our team during these events!

NAEPC Advanced Estate Planning Strategies Conference – October 20-22 in Anaheim, CA

Bridgeford Trust Company is proud to sponsor NAEPC’s 61st Annual Conference this year! This event offers estate planning professionals a unique opportunity to cultivate new multi-disciplinary relationships and collaborate on innovative ideas and trends.

David Warren, Co-Founder & Chairman, and Doug Mikkonen, Senior Vice President & Senior Trust Officer, will be attending so if you’re planning to be there, be sure to stop by booth #50 to meet with our team.

STEP Miami Summit – October 24-25 in Miami, FL

Bridgeford Trust Company will once again sponsor STEP Miami’s Annual Summit! Bridgeford has been a longstanding supporter of this prestigious event, where attendees not only stay up-to-date on the latest trends in international private client planning but also have the chance to network at various events.

David Warren and Mariano Marco, Global Managing Director of Bridgeford Global, will be attending. Stop by Bridgeford’s exhibit table to say hello and learn how we’re continuing to expand our presence in the international space, particularly Latin America, through our sister company, Bridgeford Global.

Hawaii Tax Institute – November 3-7 in Waikiki, HI

Bridgeford Trust Company is proud to return as a sponsor for the Hawaii Tax Institute’s 61st Annual Conference, one of the nation’s premier tax and wealth transfer conferences. Sponsored by the Hawaii Tax Institute Foundation and Chaminade University of Honolulu, this event offers valuable insights from a distinguished faculty of experts.

David Warren and Chris Halverson, Managing Director of Bridgeford Advisors and Bridgeford Global, will be attending and look forward to meeting you at our exhibit table. We also invite you to join us at the can’t-miss Monday night reception at Coconut Grove, which Bridgeford is proud to sponsor. If you’re interested in attending, please contact us for a personal invitation.

David will also be presenting at two sessions during the week:

• Tuesday, November 5 (4-5pm): Panel discussion, “What’s a Trustee to Do: When the Interests of Beneficiaries and Settlors Collide,” exploring the rights of contingent beneficiaries, including access to information, accountings, and legal standing.
• Wednesday, November 6 (1:30-2:30pm): Co-presentation, “Trustees Duty to Notify and Related Issues,” highlighting key aspects of the trustee’s duty to notify, including key timelines and disclosures when a trust owns an entity.

For more information about these events or to arrange a meeting with our team, feel free to reach out via our contact page or call us at (605) 224-9189.

Directed Trusts have transformed the trust world, changing how we build and manage trusts for the families we serve. Codified in a select few states – including South Dakota – Directed Trusts unbundle the traditionally rigid structure of asset management and trust administration, offering settlors, beneficiaries, and their advisors more direction, control, and flexibility than ever before.

As we’ve discussed in previous articles, Directed Trusts separate trustee duties into three distinct roles, allowing different parties to manage investment, distribution, and administration functions. For more information, you can review the typical modern “directed” trust structure in this piece that outlines the directed trust concept.

Now, as Directed Trusts evolve across the country, some states – such as California and Pennsylvania – are adopting their own versions of the concept. However, it’s vital to ensure these Directed Trusts function as intended.

South Dakota’s model, with its clearly defined bifurcation of asset management and trust administration, sets the standard and has inspired similar legislation in states like Florida. But California’s Directed Trust framework lacks essential provisions, such as the formal recognition of an “excluded fiduciary,” and Pennsylvania’s proposed version has significant issues as well. It is crucial to understand that just because something is called a “Directed Trust” doesn’t mean it operates as effectively as it does under South Dakota law. The concept of an excluded fiduciary is critical, as it allows trustees – like Bridgeford Trust Company – to work with any asset manager without being held liable for their actions. This is the core of what Directed Trusts offer: the ability for families to retain direction and control, while the trustee is shielded from liability for investment and distribution decisions.

To learn more, watch this short video from David Warren, Co-Founder and Chairman of Bridgeford Trust Company.

While states like California and Pennsylvania are beginning to adopt Directed Trust structures, none match the clarity and effectiveness of South Dakota, a trust jurisdiction with renowned legislation and extensive experience in managing well-settled trusts.

To learn more about how Bridgeford Trust Company leverages South Dakota’s advanced Directed Trust statute to offer a powerful solution for families and their advisors, contact us via our contact page or by calling (605) 224-9189.