A South Dakota "trust company" is an institution specializing in the management of trusts. There are lots of trust companies in South Dakota because of the favorable trust laws of our state. They serve as a corporate trustee and can have roles ranging from specific to general depending on the needs of the family. These roles can change over the years.
Example: When we formed our South Dakota trust we had to hire a South Dakota trust company as the trustee so we can take advantage of South Dakota law, but we still have a lot of control over all the assets. It’s a win-win situation.