July 14—With today’s historically high gift and estate tax exemptions, and historically low interest rates, the use of personal trusts can be particularly beneficial in this favorable wealth planning environment.
Delaware was the first state to pioneer many innovative trust laws, but the competition for trusts is fierce among the states. Wilmington Trust’s National Director, Delaware Trust Planning Jeff Wolken, sits down with Editor in Chief of Trusts & Estates magazine, Susan Lipp, at the 54th Annual Heckerling Institute on Estate Planning to share his insights on how Delaware sets itself apart from other states.Please see important disclosures at the end of the video.
The facts show Delaware is a top jurisdiction for personal trusts with its flexible laws, a robust trust infrastructure, and a depth of talented professionals who serve this industry. While promoting their own trust services, other states at times present subjective information as fact, which can be misleading.Practitioners looking to find the right home for their clients’ personal trusts choose Delaware to take advantage of its favorable laws.