PROTECTING ASSETS FOR MULTIPLE GENERATIONS
Accounting for trust assets and liabilities
Maintaining South Dakota Checking Accounts to pay trust expenses
Managing Distributions to beneficiaries
Carrying out the investment decisions as directed by those appointed in a trust agreement or in an agreement of engagement
Overseeing the repayment of debt where a trust is funded with assets from an installment sale or managing other aspects of a sophisticated estate plan.
Overseeing the preparation and filing of tax returns
North Point was founded in 1999 at the request of clients who wanted the owners of North Point to be trustee of their South Dakota Trusts.
North Point is affiliated with a CPA firm whose personnel are CPAs and former CFOs and controllers.
The officers of North Point have been trained in Cannon Financial Institute courses and other
The philosophy of the trust company is that it has a fundamental fiduciary duty to effectively and regularly communicate with all parties to a trust including the person who created the trust, the trust's beneficiaries, and the key advisors of these individuals.
The people of North Point have extensive experience in the creation and management of sophisticated "legacy" or "dynasty" trusts. North Point has become trustee for numerous trusts where prior trustee was unable to understand and manage the various elements of a sophisticated trust and estate plan.
Sylvan Lake, SD
ADVANTAGES OF NORTH POINT
North Point Trust is a favorable trust company for many reasons; some of which include:
The expertise, experience and character of its people.
Its fees are based not on a percent of trust assets but rather on its activities as trustee.
Its independence from any investment firm or bank.
North Point's strong preference that the trust's creator, his or her family, or the creator's investment advisor makes the trust's investment decisions.
The cash or other investments of a trust are not co-mingled or combined with the assets of other trusts for which North Point serves as trustee.
ADVANTAGES OF A SOUTH DAKOTA TRUST
South Dakota is preferred jurisdiction for trusts for many reasons, some of which include:
South Dakota has no limit on the life of its trusts.
There is no South Dakota state income tax for the trusts or the individuals who are the trusts' beneficiaries.
South Dakota governs only U.S. trusts, not foreign trusts, which can experience numerous difficulties with the U.S. testing authorities and other U.S. foreign entities.