Marie and Ed Bosarge’s divorce spotlights South Dakota’s secretive trusts

In a lawsuit filed in 2018, Marie claims that the trusts were created and used by Ed to hide income and property and to hold what would otherwise have been personal income and assets. She claims the purpose of the trusts and the transfer of assets between the trusts was to cut Marie out of her rightful share of the community estate.

Attorneys for Ed Bosarge who founded high-speed trading firm Quantlab declined to comment on the case, citing confidentiality rules. Marie s attorney also declined comment. But in court papers, Ed s attorneys have claimed that the assets are owned and controlled by the trust, not by him, and are therefore not marital property. They say the total value of the couple s marital property, which would be subject to division, is about $12 million.

via www.cnbc.com

I love secretive trusts. I had no idea about South Dakota however. I thought you had to have Alps to have secretive trusts.