Frequently Asked Questions

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2023 Estate Gift Tax Exclusions

2023 Estate Gift Tax Exclusions

The lifetime estate exclusion amount (also sometimes called the estate tax exemption amount, the applicable exclusion amount, or the unified credit amount) has been increased for inflation beginning January 1, 2023. Applicable Exclusion Amount Under the 2010 Tax...

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Which Local Employment Laws Apply to Remote Work?

Which Local Employment Laws Apply to Remote Work?

We are frequently asked, “Which local laws apply when workers temporarily relocate? Does the answer depend on whether the employer assigned the employee to work in that location or whether the employee is some sort of digital nomad who works remotely from locations...

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Why Should Employers Review Their Website Accessibility?

Why Should Employers Review Their Website Accessibility?

Employers are often familiar with Title I of the American with Disabilities Act (“ADA”), which prohibits discrimination on the basis of disability in employment. But many are not as familiar with Title III of the ADA, which prohibits discrimination in places of...

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Succession Planning: Worth the Work

Succession Planning: Worth the Work

Every closely held business should have a succession plan in place. While many owners of small businesses may not find it pleasant to think about a time in which they are no longer able to work, employees and family members are depending on them to develop a careful...

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About Cryptocurrency… It’s Not Going Away.

About Cryptocurrency… It’s Not Going Away.

Fans of the Harry Potter books will recall the first book when young Harry was living with his muggle (non-wizard) family and he started receiving letters from Hogwarts, the wizard school, inviting him to attend during the next school session. At first his muggle...

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Remote Work Considerations for South Dakota Banks

Remote Work Considerations for South Dakota Banks

Over the past several years, employers have worked to provide flexible work environments in response to the COVID-19 pandemic. Employees have taken advantage of these opportunities and are likely to continue to request flexible work environments in the future,...

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South Dakota Again Top State for Trusts

South Dakota Again Top State for Trusts

Every two years since 2010, Trusts and Estates Magazine has compared all 50 states in the United States to determine where the best state is to situs your trusts. The magazine does extensive studies on numerous factors such as top states for dynasty trusts, income,...

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Why Your Bank Must Have a Marijuana Banking Policy

Why Your Bank Must Have a Marijuana Banking Policy

Legalized marijuana is here to stay – in what form and with how much risk is yet to be determined. To assess and control that risk, South Dakota bankers should become familiar with the various new state and local laws and have a clear understanding of the Federal laws...

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Common Questions on Asset Protection Trusts

Common Questions on Asset Protection Trusts

From time to time the news media covers various issues related to the popularity of South Dakota’s trust laws. Recently there has been some coverage on the use of asset protection trusts in South Dakota. This coverage, combined with the challenging financial...

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