Corundum Trust Company
The Opportunity of More Than One Lifetime
Corundum Trust Company is an independent, private trust company located in Sioux Falls, South Dakota. Founded exclusively to serve the trust management needs of The Corundum Group’s worldwide clientele, the trust company is a rarity in the world of wealth management. Our experienced team oversees the growth and preservation of family legacies. By using our specialized capabilities to leverage opportunities offered by a South Dakota situs, we create wealth management solutions that remain effective for generations to come.
The South Dakota Advantage
South Dakota offers advantages for trust and estate planning that includes:
No state income tax
Trust income is generally taxed at the state and federal levels. Because South Dakota currently has no state income tax, this reduction of your wealth is avoided.
No law against perpetuities
Most states require trusts to terminate at some point. South Dakota law has no such requirement, so a properly structured trust can last as long as the grantor wishes and thereby avoid federal estate tax during the life of the trust. These trusts are known as perpetual, legacy or dynasty trusts, and each is a powerful estate planning tool not available in most states.
South Dakota’s spendthrift laws offer a degree of protection to trust assets from the claims of creditors. Corundum Trust Company’s professional services extend far beyond the scope of common bank trustees. We aren’t limited by institutional lists of proprietary products or services, nor are we unduly influenced by them. So instead of off-the-rack plans and tactics, you get disciplined thinking, a conservative work ethic and carefully chosen investment vehicles, based on the collective wisdom of the country’s best investment strategists.
- Comprehensive analysis and planning
- Trustee and co-trustee of revocable and irrevocable trusts
- Philanthropic giving—coordination of charitable trusts
Analysis and Planning
We devote extraordinary amounts of energy toward understanding and analyzing your goals. Since every wealth management scenario poses its own profile of risks and rewards, our philosophy is to consider each investment and ownership structure individually, in light of what it brings to each portfolio. We are not tied to only one suite of investment products.
In addition to traditional trust structures, we frequently employ family limited partnerships and limited liability corporations, instruments that allow us to maximize wealth accumulation while maintaining a comfortable balance between control and flexibility.
The role of trustee is one of long-term importance. If charged with creating a trust, we collaborate with you and a team of trust professionals to determine which vehicle will prove most effective in fulfilling the instrument’s objectives. In the case of existing trusts, we consult with the creators whenever possible, to clarify their original intentions and, if necessary, assist them in developing an effective course of implementation.
In all cases we maintain frequent communication with our trust and estate counsel, employing a system of checks and balances that provides maximum protection of assets, while still allowing for adaptation. Since trusts are devised to stand the vagaries of time, we manage each one with an eye toward control, flexibility, and tax efficiency.
Beneficiaries of existing trusts find Corundum Trust Company to be an invaluable resource in the role of co-trustee, particularly when relationships with mandated parties prove less than effective.
While institutional trustees may bring some value, many clients find that using Corundum Trust Company as a co-trustee improves the quality of service and also the overall performance of their investments—often at more competitive fees and with more control.
When people of wealth choose to make charitable donations to organizations or causes dear to them, we work to help them create the ideal vehicle for expressing their generosity. Our extensive experience extends to private foundations, charitable remainder trusts, charitable lead trusts, donor advised funds, direct gifts, and beyond.