A Texas billionaire's divorce case is shining light on South Dakota's trust industry.
Ed Bosarge is divorcing his wife of 30 years, and because of South Dakota's trust laws, he seems to have a good shot at leaving her with nothing.
According to news reports, Bosarge transferred assets into a series of trusts, including in South Dakota, in his name alone, and because of the state's strict privacy laws, his wife can't get information.
That case is stuck in Texas court so far. But it might eventually reach South Dakota.
The state's Chief Justice told the legislature in 2019 that the Supreme Court's docket will continue to see more trust appeals as the industry grows.
SDPB's Victoria Wicks reports.
