Delaware enjoys international renown for its trust and tax law advantages and its innovative estate planning vehicles. Delaware has a well thought-out body of trust laws; a supportive legislature, executive branch, and legal and banking community; and many institutions that compete for trust business.Benefits of having a trust in Delaware include tax advantages, creditor protection, flexible distribution rules, and others.
Educating children about important subjects and empowering them to make wise decisions can build trust and strengthen familial bonds.
It is generally much easier for young adults to become financially responsible when money matters are discussed openly and education begins early.
Young adults do not need to know the exact value of family assets to learn the basics of wealth management and become involved in the family’s financial activities.
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.