Delaware Trust, Delaware Trust Company, In perpetuity ability, Beneficiary nondisclosure

Delaware Trust Company

Many wealthy investors and their advisors turn to the State of Delaware when establishing trusts. Delaware is a trust-friendly jurisdiction with well-established trust laws that offer many advantages to grantors and beneficiaries.

  • Potential income tax reduction: Delaware does not impose state income taxes on irrevocable trusts if beneficiaries reside in another state.
  • Privacy protection: A Delaware trust is not public information because it does not have to be filed with the courts.
  • In perpetuity ability: Delaware law allows establishment of dynasty trusts that span generations and potentially protect assets from estate, gift, inheritance and generation-skipping transfer taxes.1
  • Beneficiary non-disclosure: Delaware law allows grantors to keep the existence or value of a beneficial trust secret from the beneficiary.
  • Investment flexibility: Delaware law gives grantors broad latitude in determining how assets will be invested and who will manage them.
Asset and credit protection

For clients who have considerable wealth or work in professions where personal liability is a concern, a Delaware trust may also afford asset and credit protection opportunities.

Under Delaware law, an individual can establish an irrevocable trust that protects assets from future creditor claims, while still allowing the grantor to retain an interest in and receive income from the trust. What’s more, through various “spendthrift” provisions, the trust assets can also be protected from claims by creditors of the trust’s beneficiaries.

At SunTrust Delaware Trust Company, our seasoned trust advisors offer you in-depth knowledge of Delaware trust law to help you with a full range of trust strategies that address your unique circumstances.

Disclaimers

1SunTrust Bank and its affiliates and the directors, officers, employees and agents of SunTrust Bank and its affiliates (collectively, “SunTrust”) are not permitted to give legal or tax advice. While SunTrust can assist clients in the areas of estate and financial planning, only an attorney can draft legal documents, provide legal services and give legal advice. Clients of SunTrust should consult with their legal and tax advisors prior to entering into any financial transaction or estate plan. Because it cannot provide legal services or give legal advice, SunTrust’s services or advice relating to “estate planning” or “wealth transfer planning” are limited to (i) financial planning, multigenerational wealth planning, investment strategy, (ii) management of trust assets, investment management and trust administration, and (iii) working with the client’s legal and tax advisors in the implementation of an estate plan.

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