This is the "9:00 a.m. - Kick Off and History" page of the "Asset Protection and Trust Innovations: South Dakota's Role in Paving the Way for Innovations Nationwide - Spring 2016 Law Review Symposium" guide.
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Asset Protection and Trust Innovations: South Dakota's Role in Paving the Way for Innovations Nationwide - Spring 2016 Law Review Symposium  

Last Updated: Aug 25, 2017 URL: Print Guide RSS Updates

9:00 a.m. - Kick Off and History Print Page

South Dakota Trust Company: History of Asset Protection and Trusts in South Dakota and Nationally

This session provided a brief history of the development of South Dakota’s very favorable and unique trust, tax, asset protection as well as the Private Family Trust Company statutes & laws.


Al King

Al W. King III is based in New York City and the Co-Founder, Co-Chairman and Co-Chief Executive Officer of South Dakota Trust Company, LLC (SDTC), South Dakota Planning Company, LLC (SDPC), and the Estate Planning Institute (EPI). South Dakota Trust Company is a national trust boutique for the wealthy based out of Sioux Falls, South Dakota serving clients nationally and internationally.

Mr. King was previously Managing Director and National Director of Estate Planning for Citigroup.  Mr. King was also the Co-Founder and Vice Chairman of Citicorp Trust South Dakota.  Mr. King also previously served as Director of Financial and Estate Planning for Coopers and Lybrand in Stamford, Connecticut.

Prior to joining Coopers and Lybrand, Mr. King was a Vice President and Director of Financial and Estate Planning with Shawmut Bank and the Northeast Director of Financial and Estate planning for Prudential-Bache Securities.  Mr. King was also a Senior Staff Attorney/Financial Counselor with the AYCO Corporation, a fee-based financial counseling firm.

Mr. King is the Co-Vice Chairman of the Editorial Board of Trusts & Estates Magazine. He has been a member of the Editorial Board for 22 years.  Mr. King has been inducted into the National Association of Estate Planners & Councils (NAEPC) Estate Planning Hall of Fame as an Accredited Estate Planner (AEP), Distinguished.  In addition, Mr. King currently serves on the Board of Directors for NAEPC and is the Chairman of the NAEPC Foundation Advisory Board. He is also a member of several groups and organizations including the Society of Trust and Estate Professionals (STEP), the International Association of Advisors in Philanthropy (AiP), New York Philanthropic Advisors Network (NYPAN), Fairfield County and New York City Estate Planning Councils, etc.  In addition, he is frequently published and quoted by several publications on various Estate Planning topics and addresses several professional organizations, special interest groups, and general audiences on the subject of estate and financial planning.

Mr. King received a Bachelor of Arts cum laude from Holy Cross College, a Juris Doctor from Syracuse University Law School and an LL.M. in Tax Law from Boston University School of Law.


Pierce McDowell

Pierce H. McDowell III is a Co-Founder and current President, Co-Chairman and Co-Chief Executive Officer of South Dakota Trust Company LLC and South Dakota Planning Company LLC.  The former is a national trust boutique company for the wealthy based in Sioux Falls, South Dakota and the latter a trust/estate planning consulting, marketing and sales firm based in New York City.

Mr. McDowell was the Co-Founder and President/Chief Trust Officer of Citicorp Trust South Dakota. Due to South Dakota's attractive trust, asset protection and tax legislation, Mr. McDowell is responsible for servicing the trust and estate needs of clients across the United States and the world as they create trusts in and move trusts to, South Dakota.  Prior to joining Citibank, Mr. McDowell practiced law with Woods, Fuller, Shultz and Smith of Sioux Falls, and was formerly a Vice President, Trust Administrator, and Business Development Manager for both Norwest and First Banks.

Mr. McDowell is nationally known and frequently quoted by Forbes and other publications on the advantages of South Dakota trust law.  Mr. McDowell received the Citibank outstanding sales awards for 1996 and 1998 as well as the 1997 Epic Award for his articles in Trusts & Estates magazine on South Dakota trust planning.

Mr. McDowell serves on the Board of the South Dakota Planned Giving Council.  He has been appointed to the Philanthropy Committee with the South Dakota State Bar Association.  He is the Chairman of the South Dakota Bankers Association's Trust Committee, a member of the South Dakota Bar Association's Real Property, Probate & Trust Law section and serves on its Probate and Trust Committee and the Legislative Committee. Mr. McDowell is a member of the University of South Dakota Foundation Board of Trustees, a member of the Board of Directors for The Financial Awareness Foundation, as well as a former member of the Advisory Board for Trusts & Estates magazine.

Mr. McDowell received a Bachelor of Science from Arizona State University and a Juris Doctor from the University of South Dakota.


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