What if your wealth could be preserved for generations, without family conflict, excessive taxes, or probate headaches? In this episode of The Richer Geek, we're joined by Antony Joffe, Chairman of Sterling Trustees, to break down the world of trusts. From South Dakota's unique laws to protecting your family legacy, Antony shares insights every entrepreneur, professional, and future planner should know.
In this episode, we chat about…
- Antony's career journey from CPA and investment banker to building Sterling Trustees with his father.
- Why family trustees often create conflict (and legal risk) and how corporate trustees solve that problem.
- How South Dakota became the trust capital of America and what makes its laws stand out.
- Real-world protections trusts can offer against creditors, lawsuits, divorce, and even poor financial decisions.
- The role of technology and the future of trusts, from AI-drafted documents to blockchain accounting.
- Why entrepreneurs, especially in high-tax states like California, should consider trusts early in wealth planning.
Key Takeaways:
- Trusts aren't just for billionaires. Even middle-class families can use them to preserve wealth and reduce probate costs.
- South Dakota leads the nation in progressive trust laws, offering tax advantages, asset protection, and strong privacy features.
- Corporate trustees provide expertise and neutrality, preventing family disputes and ensuring compliance with fiduciary duties.
- Trusts can be customized for flexibility, from staggered payouts to charitable giving, while safeguarding against divorces or creditors.
- Tech is reshaping trust management, with AI simplifying documents and blockchain promising long-term transparency.
- Start planning earlier than you think. Even in your 30s or 40s, a trust can protect future business exits, stock options, or inherited assets.
Resources from Antony
LinkedIn | sterlingtrustees.com | Tax Savings Calculator | Contact Antony: 610-314-8590
Resources from Mike and Nichole
Gateway Private Equity Group | Nic's guide
