Apparently South Dakota has become a great place for a wealthy individual to shield his or her assets. Long before Ed Bosarge sought for divorce, assets were transferred to a series of trusts. South Dakota has been said to be the mini Switzerland, which is used to be known from its secrecy laws regarding a client’s financial affairs. It’s a very interesting matter, as trusts can be set up to shield assets from literally anyone.
References:
Frank, R. (2020, May 06). Billionaire divorce uncovers secretive world of trusts in South Dakota. Retrieved July 28, 2020, from https://www.cnbc.com/2020/05/06/how-marie-and-ed-bosarges-divorce-spotlights-south-dakotas-asset-trusts.html