Estate Planning and Probate and Trust Administration
Davenport Evans law firm in Sioux Falls, SD provides expertise in all aspects of estate planning and trust administration matters. Our attorneys offer a broad range of services including wills, powers of attorney, and South Dakota trusts, trust and estate litigation, probate, and trust administration. In addition, our attorneys have extensive experience with dynasty trusts, directed trusts and asset protected trusts. The following are some Estate Planning resources that may be of use to families, individuals and financial planning professionals.
Davenport Evans estate planning attorneys include: Sarah Richardson Larson*, P. Daniel Donohue*, Terry N. Prendergast, Matthew W. Van Heuvelen (SD, IA), Mark R. Krogstad (SD, MN), Ashley G. Blake, and Mary Ellen Dirksen.
*Denotes a member of the American College of Trust and Estate Counsel (ACTEC). The American College of Trust and Estate Counsel is a national organization of approximately 2,500 lawyers elected to membership by demonstrating the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors. Its members work to teach those who enter the field and to improve and reform laws, procedure and standards while working with their peers and other professional organizations. P. Daniel Donohue is a member of the Board of Directors of the American College of Trust and Estate Counsel Foundation.
Sarah Richardson Larson speaks on the importance of estate planning (full transcript here.)
South Dakota Trust Laws Make National News
- Trust Law Podcast: Terry Prendergast was recently the guest of Bridgeford Trust Company discussing South Dakota’s modern trust law and South Dakota as a top tier jurisdiction.
- Heimer, Matthew. “Why rich families love South Dakota.” The Wall Street Journal. 16 Jan. 2014. Market Watch.
- Moyer, Liz. “When to ‘Decant’ A Trust. It’s getting easier to tinker with irrevocable trusts.” The Wall Street Journal. 3 Jan. 2014. Your Money.
- Martin, Scott. “South Dakota Proves Irresistible to National Advisors Trust.” 18 June 2013.
- Steve Oshins 3rd Annual Dynasty Trust State Rankings Chart
- Steve Oshins 5th Annual Domestic Asset Protection Trust State Rankings Chart
- Steve Oshins 2nd Annual Trust Decanting State Rankings Chart
Davenport Evans Estate Planning and Trust Administration attorney Matthew W. Van Heuvelen, an Iowa native, is licensed in Iowa and South Dakota. Matt’s practice includes estate planning, probate, trust administration and business transactions. He has experience handling Iowa probate matters. At Davenport Evans, the cost of this service is based on the time required to complete the work, not on the value of the estate.
Iowa Inheritance Tax Does Not Apply to Every Estate
We frequently receive questions from our Iowa clients regarding Iowa’s Inheritance Tax. Inheritance taxes in Iowa can be onerous, but fortunately, many Iowa estates are exempt from Iowa’s Inheritance Tax. The Tax is calculated on the value of each beneficiary’s share of the Estate. However, distributions to many beneficiaries are exempt from the Inheritance Tax. Property passing to spouse, children (biological and legally-adopted children), stepchildren, grandchildren, great-grandchildren, and other lineal descendants is exempt, as is property passing to parents, grandparents, great-grandparents, and other lineal ascendants. Proceeds from life insurance are also exempt if paid to a named-beneficiary. If beneficiaries who are statutorily exempt from the Tax receive all the assets of an estate, then no Inheritance Tax Return is due for that estate. To discuss your specific questions, email Matt Van Heuvelen or call him at 605-357-1279.
Davenport Evans Estate Planning and Trust Administration attorney Mark R. Krogstad, a Minnesota native, is licensed in Minnesota and South Dakota and received a master’s degree in taxation from the University of Florida. His practice is primarily devoted to estate planning, estate and trust administration, tax planning, and business succession planning.
Minnesota Estate Tax and Factors Determining Minnesota Residency
The state of Minnesota imposes an estate tax that not only affects residents of Minnesota, but also can affect non-residents of Minnesota owning real property or other tangible property located in Minnesota or having an interest in a pass-through entity, such as a limited liability company, a partnership or a corporation taxed under Subchapter S, that owns real property or other tangible property located in Minnesota. To discuss your specific questions, email Mark Krogstad or call him at 605-357-1273.
Davenport Evans Estate Planning and Trust Administration News Articles
- 2018 Estate and Gift Tax Exclusions, 2017 Tax Act
- 2016 Federal Estate and Gift Tax
- Special Needs Trust
- Death of LLC Member Can Be Tricky- Sioux Falls Business Journal
- Using a Trust to Provide for the Future of Your Children
- 15 Davenport Evans Attorneys Named Great Plains Super Lawyers
- 19 Davenport Evans Lawyers Named by Best Lawyers in America, Five Named “Lawyers of the Year”
- Donohue Reappointed to Governor’s Task Force on Trust Administration
- Tax Treatment of Same-Sex Couples and Spouses
- Hear Sarah Richardson Larson Present on Estate Planning January 23 and February 14
- Summary of Primary 2013 Legislative Changes to the Minnesota Estate and Gift Tax
- Davenport Evans listed in “Best Law Firms” by U.S. News & World Report and Best Lawyers
- Van Heuvelen Accepted Into Leadership Sioux Falls
- Donohue speaks at ACTEC regional meeting in Vail, CO
- 2014 Exclusion for Lifetime Gifts to Noncitizen Spouses
- Tax Treatment for Same-Sex Spouses and Couples
- Donohue Interviewed by Business Journal on State’s Efforts to Lure Trusts
- Donohue Speaks on Incentive Trusts at Minnesota Probate and Trust Law Conference