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South Dakota vs Nevada: trust jurisdictions side by side
South Dakota and Nevada are two of the 40 places we cover. Both are in the Americas and Caribbean and open for new trusts with us. The table sets out the facts we hold for each place side by side, with the source and date of every fact.
The table
Facts side by side
Shaded cells differ between the two places.
Rows we have not published for a place are listed below the table.
| Fact |  South Dakota |  Nevada |
|---|---|---|
| Perpetuity period | SDCL 43-5-8: the common-law rule against perpetuities is not in force | NRS 111.1031: nonvested interests are valid if they vest within 365 years |
| Protector | SDCL 55-1B-1: defines trust protector and trust advisor | NRS 163.5547: defines the trust protector |
| Asset protection rule | SDCL 55-16-10: creditor claims are time-limited; clear and convincing proof | NRS 166.170: creditor challenges are time-limited; clear and convincing proof |
| Reserved settlor powers | SDCL 55-16-2: irrevocable trust; settlor may keep listed powers and interests | NRS 166.045: the settlor has only the powers the trust instrument gives |
| Trustee requirement | SDCL 55-3-41: qualified trustee is a state resident, trust company or bank | NRS 166.015: a settlor-beneficiary trust needs a Nevada-based trustee |
| Reporting to authorities | Form 706-NA may be due on US-situated assets of a nonresident non-citizen | Form 706-NA may be due on US-situated assets of a nonresident non-citizen |
| Estate duty | The state has no state income tax or estate tax on individuals | Nevada does not require estate tax filing for deaths on or after 2005 |
Not published for South Dakota: trust structure. Ask us.
Not published for Nevada: foreign law rules. Ask us.
This is guidance, not legal or tax advice. Every fact has a source, listed under Sources with its date.
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Sources
Read on :
- South Dakota Legislature: SDCL 43-5-8, Rule against perpetuities not in force. Used for perpetuity period.
- Nevada Legislature: NRS Chapter 111, Estates in property; conveyancing and recording. Used for perpetuity period.
- SDCL 55-1B-1, Definition of terms. Used for protector.
- NRS Chapter 163, Trusts. Used for protector.
- SDCL 55-16-10, Claim of fraudulent transfer of settlor's assets. Used for asset protection rule.
- NRS Chapter 166, Spendthrift trusts. Used for asset protection rule, reserved settlor powers, trustee requirement.
- SDCL 55-16-2, Trust instrument defined. Used for reserved settlor powers.
- SDCL 55-3-41, Qualified person defined. Used for trustee requirement.
- IRS: Some nonresidents with U.S. assets must file estate tax returns. Used for reporting to authorities.
- South Dakota Department of Revenue: Individual taxes. Used for estate duty.
- Nevada Department of Taxation: Estate Tax FAQs. Used for estate duty.
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