For young families in South Dakota, an important benefit of having an estate plan is that you can name the person you want to serve as the guardian of your minor children. For the parents, this is often the most difficult estate planning decision to make. The guardian is the person you designate to raise your minor children until their eighteenth birthdays. South Dakota courts will normally follow your guardianship wishes.
An estate plan also allows you to establish a trust and name a trustee. A trust is a legal arrangement that divides ownership of property into two parts: legal ownership and beneficial ownership. The trustee is the person who holds the legal ownership of the property. The trustee controls and manages your property according to your instructions for the benefit of your beneficiaries, who hold the beneficial title to the same property.