Wealth Management Services
Trusts are important planning vehicles, and can offer even more benefits in the right jurisdiction. Collaborate with us today to help your clients take advantage of the many benefits of establishing a personal trust in Delaware with an experienced fiduciary.
The Delaware and Wilmington Trust advantage
Headquartered in Delaware, a state widely recognized for its sophisticated court system, Wilmington Trust Company has extensive knowledge of the state's favorable laws for personal trusts and business entities.
Keeping Delaware at the forefront of trust lawWe've helped shape the latest trust-related legislation in Delaware, setting the standard for many other states.
Experienced Delaware trust professionalsOur experienced professionals include some of the foremost authorities on Delaware trust law and strive to stay on the cutting edge of new tax laws and planning techniques.
Understanding complexityWe specialize in finding solutions to unique and complex financial situations. Delaware trusts can play a key role in protecting, transferring, and growing wealth.
Tax reform and SALT opportunities
Under the new tax law, income tax mitigation may be more important than ever now that the ability to utilize State and Local Tax (SALT) deductions has been significantly reduced and capped at $10,000 per year. Learn how we can help your clients take advantage of other state jurisdictions to reduce or mitigate their current (or future) state and local income taxation (especially for those in high income tax states).
- DING trusts
Individuals in high income tax states may consider establishing and funding Delaware Incomplete Non-Grantor (DING) trusts. The Grantor of a DING trust retains ownership of the assets for gift tax purposes while the trust owns the asset for income tax purposes. The DING trust allows the individual taxpayer to shift the income out of his or her home state into a state such as Delaware where the trust may not pay a state income tax.
- Designating a corporate successor trustee
Some trusts are best administered by an individual during his or her lifetime, such as revocable living trust or ILIT. However, appointing a corporate successor trustee in a tax friendly jurisdiction--such as Delaware--can offer professional management of the trust asset at the same time state taxes may be eliminated.
Talk to one of our Wilmington Trust Company professionals to find out how a Delaware trust can benefit your clients.
Wilmington Trust Company operates offices in Delaware only.
Note that a few states, including Delaware, have special trust advantages that may not be available under the laws of your state of residence, including asset protection trusts and directed trusts.