Hot Topics Panel
This panel was moderated by Dennis Collins, Attorney and Partner at Jewell, Collins & DeLay.
Matthew Bock and Craig Krogstad, attorneys at Woods, Fuller, Schulz & Smith discussed Directed Trusts and Special Purpose Entities.
Heath Oberloh, attorney at Lindquist & Vennum, LLP discussed Series LLCs.
Mary Akkerman, attorney at Lindquist & Vennum, LLP discussed Decanting.
Terry Prendergast of the Redstone Law Firm discussed Special Spousal Trusts.
Mary Akkerman is a partner at Lindquist & Vennum in Sioux Falls, SD. She guides clients through the all aspects of fiduciary representation, estate planning, and related administrations, including dynasty trusts, domestic asset protection trusts, estate and trust administration, guardianships and conservatorships, business and tax planning, estate and gift tax planning, tax appeals and related litigation. Ms. Akkerman is skilled at establishing public and private trust companies in South Dakota and also has significant experience working with international advisors, attorneys, and clients with respect to cross-border planning, non-resident alien trust formation, and international tax issues.
Along with corporate and individual fiduciaries and family offices, Ms. Akkerman represents business owners, professionals, retirees, and individuals interested in establishing a South Dakota trust. She is experienced in trust and estate litigation, prenuptial agreements, cohabitation agreements, special needs trusts.
Ms. Akkerman received her J.D from the University of South Dakota in 2001, and graduated with Sterling Honors. She received her M.A. in English from South Dakota State University in 1998, and her B.A. in English from South Dakota State University in 1994.
Ms. Akkerman is an American College of Trust and Estate Counsel (ACTEC), Fellow, and an ACTEC Asset Protection Committee, Member. She has been listed as one of the Great Plains Super Lawyers (2014, 2015).
Matthew Bock is a shareholder with the Woods Fuller law firm in Sioux Falls, South Dakota. Matt works with families and their businesses to grow, protect, and transition family wealth. Matt has an LL.M. in taxation.
Matt serves on the board for Volunteers of America, Dakotas, the Sioux Falls Tennis Association, SurviveiT, Inc., and the First Lutheran Church Foundation. Outside of work, Matt enjoys spending time his wife and children and hunting with his dog.
Dennis Collins is a lawyer in Norfolk, Nebraska, and partner at the firm of Jewell & Collins. His practice includes estate planning, wills and trusts, as well as real estate and corporate work.
He is licensed to practice in both Nebraska and South Dakota, and has been a Fellow in the American College of Trust & Estate Counsel for 31 years. Mr. Collins has authored several articles on estate planning for law reviews and seminars, and speaks at trust and financial planning conferences throughout Nebraska. He's been in practice for over 45 years.
Mr. Krogstad, a Willmar, Minnesota native and Augustana College graduate, joined Davenport Evans in Sioux Falls, SD as an Associate in 2012 and is licensed in both South Dakota and Minnesota. His practice is primarily devoted to estate and business succession planning, probate, taxation, and business law.
Mr. Krogstad is active in the community and in professional organizations. He is a member of the Sioux Falls Estate Planning Council, the State Bar of South Dakota and the Minnesota State Bar Association. Outside the office, Mr. Krogstad enjoys outdoor activities, such as hunting and fishing, and spending time with his family.
Mr. Krogstad received his J.D. at the University of North Dakota School of law, with distinction Order of Coif, and Order of Barristers in 2010. He received his B.A. from Augustana College, graduating cume laude, in 2007. He received his LL.M in Taxation at the University of Florida Levin College of Law in 2012.
While in law school Mr. Krogstad was on the North Dakota School of Law Moot Court Board, and he was a member of the North Dakota Law Review. While attending the University of Florida in 2012 he received the Book Award in Estate Planning.
Heath Oberloh is a partner at Lindquist & Vennum in Sioux Falls, SD. His practice focuses on business planning and estate planning, regularly working with family owned businesses and family owned farms on succession issues. He explains the available options, helps the family decide which alternative is right for them, helps develop the client’s plan and makes sure all the pieces of the plan gets implemented.
Mr. Oberloh also works with families seeking to take advantage of South Dakota’s favorable trust laws. He enjoys explaining the many benefits of South Dakota trust situs and developing and implementing a plan to accomplish the family’s goals.
Mr. Oberloh is active in the Sioux Falls Estate Planning Council and Business Law Committee of the South Dakota State Bar, where he helped draft legislation to update South Dakota’s limited liability company statutes.
Mr. Oberloh received his J.D. at University of South Dakota School of Law, with Sterling Honors, in 2000. He received his B.A. from Dordt College in 1997.
Mr. Oberloh was awarded the Great Plains Super Lawyers, Rising Star Award in 2013, 2014, and 2015. He has been listed in the “Best Lawyers in America” since 2013.
Terry Prendergast is a South Dakota attorney at Davenport, Evans, Hurwitz & Smith, LLP. He has represented 45 of the 82 South Dakota chartered non-depository trust companies (as of December 1, 2015), and has helped 20 obtain their charters. He also assists out-of-state counsel with moving, modifying, and decanting current trusts to SD situs and assisting on new SD trusts, having represented clients in hundreds of court approved modifications and decants over the last 10 years. He has also assisted with captive insurance formations, serving as counsel for over 29 of the 34 chartered captive insurance companies in South Dakota (as of December 1, 2015).
Mr. Prendergast provides legal counsel to hundreds of trust clients with trusts containing assets ranging from a few thousand dollars to over $5 billion. He has worked with trust company clients with over $150 billion of assets under management in South Dakota.
Mr. Prendergast currently serves on Governor’s Task Force on Trust Administration Review and Reform. He is a past Bar Commissioner and past Chair of the Law School and Continuing Legal Education Committees for the State Bar of South Dakota. He has also served as a member of the USD Law School Foundation.
Mr. Prendergast received his J.D. with highest honors from University of South Dakota in 1978 and was admitted to the South Dakota bar later that year. He received his B.A. degree with honors from Augustana College in 1975. He also received an M.B.A. from University of South Dakota in 1978.
While not at the office he enjoys time with his wife, Susan, two sons and a daughter-in-law. Outside of the home, Terry enjoys all types of spectator sports, travel, and reading. You can always find Mr. Prendergast under the basket in the front row at Augustana basketball games helping the referees, or in the front row at Sioux Falls Canaries games assisting the umpire.