When establishing a trust in Delaware, the long-term benefits are numerous. In 1995 Delaware led the nation by eliminating the rule against perpetuities, which now permits the trust to continue over many generations, or forever. In 1997 Delaware passed legislation protecting trust assets from claims of creditors. Asset Protection Trust Delaware permits favorable tax treatment for non-resident beneficiaries. In addition, there are no Delaware personal property taxes, and no Delaware death taxes in most circumstances.
Delaware legislation grants flexibility regarding investment managers.
Multiple, non-resident managers are permitted and any recognized management philosophy may be utilized by a Delaware Trust. No matter what investment goal the grantor wants to achieve, Delaware can accommodate it. Delaware requires no filing or recording of trust documents, providing privacy for current and future family matters. This is the most often mentioned advantage to appointing the trustee outside the local community, but there are numerous others. Delaware permits the appointment of successor trustees, offering flexibility to future generations.