Control, protection, and privacy are key benefits of a Delaware Trust.
- The state of Delaware has long been one of the most favorable places to establish a business.
- Delaware is also an excellent place to create a personal trust for estate planning or asset protection purposes.
- Delaware trusts offer many of the advantages of other trust-friendly states, along with unique elements that make it a preeminent jurisdiction.
Business owners face special challenges in structuring estate plans because of their unique need for control, asset protection, and confidentiality regarding their main asset, the family business. Fortunately, Delaware provides some special advantages to business owners who establish personal trusts under its laws. While not all of these advantages are unique to the state of Delaware, utilizing them with a trust located in Delaware affords the business owner access to other benefits that this trust-friendly state has to offer.
Continue reading the full article to learn more about the benefits of creating a Delaware trust.
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.
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