More than a dozen states across the country are sheltering billions of dollars in wealth, according to leaked documents in the Pandora papers, but that may represent only a sliver of known existing trusts across the United States due to sweeping state secrecy laws.
The unprecedented leak of financial documents earlier this week cast a bright spotlight on the United States where more than 200 trusts are being held with at least $1 billion in assets. States like South Dakota, Nevada, Florida, Alaska, and Texas were among the most popular destinations to shelter the personal wealth of ultra-wealthy individuals.
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