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.
Corporate executives and insiders who own millions of shares in their companies can achieve diversification within regulatory guidelines.A blind trust enables an insider to give a trustee the sole responsibility to decide on the timing of sales of company stock, without participation by, or knowledge of, the insider.It allows insiders to achieve investment diversification and reduce risk without running afoul of securities regulations.
A trust can be a beneficial part of your estate plan for transferring assets and minimizing taxes.Many people ask: What is a trust? A trust is a flexible and advantageous way for a person to leave his or her assets to future generations and simultaneously reap certain present benefits.The specific type of trust you may wish to use will depend on a host of specific circumstances.Types include living trusts and testamentary trusts, and revocable and irrevocable trusts.