Estate Planning

Davenport, Evans, Hurwitz & Smith, LLP has received a top ranking in Chambers High Net Worth 2017 in the area of Private Wealth Law. Objective, independent and research-based, the Chambers High Net Worth guide recognized the world’s leading high net worth advisors.

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South Dakota came out on top in this year’s survey from the U.S. Chamber of Commerce Institute for Legal Reform, conducted by Harris Interactive, Inc. Delaware had led the poll in 2015 and previous years, but a number of states moved past it and South Dakota moved to the top spot.

Davenport Evans is pleased to announce selection of 11 Davenport Evans lawyers to the 2017 edition of Great Plains Super Lawyers. Anthony M. Hohn was selected as a Great Plains Super Lawyer

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Farmers have special concerns about Estate Taxes and Succession Planning. Davenport Evans Trusts and Estates Attorney Matt Van Heuvelen explains in this quick podcast from KELO NewsTalk Radio 1320 AM/107.9 FM.

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Many financial and other transactions today occur online. Upon death or disability,  a person may need to be appointed to have access to email and other digital accounts. The Revised Uniform Fiduciary Digital Assets Act (RUFDAA) takes effect July 1, 2017 in South Dakota, clarifying requirements for executors, trustees, conservators, attorneys-in-fact and other agents (“fiduciaries”) access to a person’s “digital assets.” Davenport Evans lawyer Terry N. Prendergast explains.

Davenport, Evans, Hurwitz & Smith LLP has been named a Top Ranked Leading Firm by Chambers USA, which ranks the nation’s leading law firms and lawyers. In South Dakota, rankings are given in four main categories: Corporate/Commercial Law, Labor & Employment, Litigation, and Real Estate. Click here to find a roster of ranked Davenport Evans lawyers.

South Dakota in 2016 passed a special law allowing spouses to create a community property trust as defined by South Dakota law as a special spousal trust, which should allow those creating such a trust the 100% step up in basis on transfers to a surviving spouse at the deceased spouse’s death.  In this article, Terry Prendergast explains the workings of the law and its origins.

Various states have enacted legislation allowing for the creation of self-settled spendthrift trusts in the last decade, which has given rise to domestic asset protection trusts (“DAPTs”). The enactment of DAPT laws in South Dakota and various other states has caused debate related specific federal gift and estate tax questions. Mark R. Krogstad and Matthew W. Van Heuvelen discuss in this Article how the recent changes to South Dakota’s DAPT statutes may affect the federal transfer tax implications of a South Dakota DAPT.

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Davenport Evans lawyer Ashley G. Blake spoke on cyber law at the Trenditigal Summit, a Marketing Technology Conference January 20. Click here for full video and an interview with Keloland TV.

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Davenport, Evans, Hurwitz & Smith, LLP is pleased to announce that Mark R. Krogstad has become a partner in the firm.