South Dakota is the New Switzerland

Because of short term residency requirements, South Dakota was once known as the divorce capital of the world. Now, because of South Dakota laws governing certain trusts, the state has become a haven for wealthy individuals and families to protect their assets. While CNBC takes a look at the negative aspects when family disputes arise, South Dakota continues to attract people from around the world looking for ways to protect their wealth. Along with their comprehensive trust laws, South Dakota has no inheritance or capital gains or income taxes. Just don't tell anyone. Read the CNBC story here.