Mark is responsible for coordinating the delivery of all Wealth Management services by teams of professionals, including planning, trust, investment management, family governance and education, family office, and private banking services to ultra high-net-worth clients. He focuses on the largest and most complex relationships.
Mark joined Wilmington Trust in 1990 and has specialized in all aspects of corporate development and Wealth Management during his tenure with the firm. He holds an MBA from the University of Delaware and bachelor’s degrees in accounting and finance from Goldey-Beacom College, where he graduated summa cum laude. Mark is also a graduate of the ABA National Graduate Trust School and is a Certified Trust and Fiduciary Advisor.
He currently serves on the advisory board for the University of Delaware Trust Management Minor, the financial advisory council of New Castle County, the executive committee for the Delaware Trust Conference, and the board of directors for Catholic Charities of the Diocese of Wilmington. In addition, he has been on the faculty of the American Bankers Association (ABA) National Trust School since 2005.
Mark’s past community and professional affiliations include the advisory board for the College of Business and Economics at the University of Delaware, the Wilmington Jaycees, the Delaware Jaycees, Contact Delaware, Prevent Child Abuse Delaware, the ABA Trust School Advisory Board, and the American Red Cross of Delmarva. Mark was a speaker at the 2013 and 2017 Delaware Trust Conferences, and he was the Chair of the 2019 Delaware Trust Conference.
One estate planning option to help reduce your taxable estate and protect assets for beneficiaries. A discretionary sprinkling trust is designed to provide distributions to those beneficiaries who need them the most.The trustee is given the discretion to “sprinkle” income and/or principal among several beneficiaries or to let it accumulate in the trust.
Keep control of your own destiny and make things a little easier on those closest to you.Just as important as wills and trusts are your durable power of attorney, medical power of attorney, and living will.These documents should be updated as your life evolves and family circumstances change.Remember these documents are very specific to each state, so it’s important to consult with an attorney well versed in the laws of your state.
Motivating your children to achieve financial independence beyond their trust payouts. Family incentive trusts offer innovative strategies for distributing wealth while passing on the family’s work ethic to the next generation.Parents can specify almost any rules they want, reflecting their desire for their heirs to seek higher education or to set up a successful business.
In order to get your estate planning underway, you need to understand the full breadth of your estate—present and future.How your parents structure their estate plan, including the use of trusts, gifts, IRAs, insurance, pensions, and Wills, can have a significant effect on how you should set up yours.It’s important to take a diplomatic approach when asking parents about what you can expect to inherit.
