BENEFIT FROM THE SERVICES OF A

 

Directed Delaware Corporate Trustee

 

Benefits of Delaware Trust Law

How to Take Advantage of Delaware Trust Laws

Corporate Versus Individual Trustees

 

The Typical Trust Structure.  Delaware law permits the appointment of investment advisors (the advisor may even be the settlor of the trust), trust protectors and distribution advisors, none of whom are required to be residents of Delaware, so long as a Delaware trust company is serving as trustee. Commonwealth Trust Company, as your independent trustee, requires only that you utilize an independent investment advisor.

 

 

Why Use Commonwealth Trust Company

As Your Directed Trustee

 

Who We Are. Commonwealth Trust Company, founded in 1931 and located within the state of Delaware, is a non-depository, independent trust company. We perform no investment services whatsoever, working with your existing investment and/or distribution advisors.

 

Commonwealth Trust Company Is Unique. Our sole function is to professionally administer trusts, handling all matters from document review to tax preparation. With the right corporate trustee, this experience can be very favorable.

 

We Serve As Corporate Trustee For Various Types of Delaware Situs Trusts Including:

 

  • The Delaware Dynasty Trust
  • The Delaware Asset Protection Trust
  • Life Insurance Trusts
  • GRATS
  • Charitable Trusts

 

You Will Receive Continuity of Service – Our Stability Ensures It. Every trust is assigned a Trust Administrator and Trust Team offering direct, personal access at all times. Commonwealth Trust Company has been a reliable, stable source of trust administration for over 70 years. We will continue that tradition since our company is one hundred percent owned by officers, directors and employees.

 

Efficient, Cost-Effective Operations Offer Reasonable Pricing. Commonwealth Trust Company’s specialization in trust administration allows us to provide services in a very efficient, cost-effective manner passing reasonable pricing along to you.

 

Our Services Are Regulated By the Office of the State Bank Commissioner. We are also active members of the Delaware Bankers Association, the Association of Independent Trust Companies, Inc. and various estate planning councils and related professional associations.

 


 

 

Advantages Of A Directed Corporate Trustee

 

Commonwealth Trust Company, a Directed Corporate Trustee,

Offers Numerous Professional Advantages:

 

Cost-Effective Access to Professional and Expert Experience In Trust Administration. As Directed Corporate Trustee, our sole function is providing professional, administrative services to the trust. We concentrate on “managing” all administrative aspects of the trust including document review, distribution review, accounting preparation and review, tax preparation, trust

record maintenance and settlor, beneficiary and third party inquiry response, areas where the inexperience of individual trustees may lead to trust matters being mishandled.

 

Streamlined Functions Result In Competitive Fees.  By streamlining functions, our fees are extremely competitive. You employ your own trusted investment advisor, distribution advisor and trust protector while benefiting from reduced annual fees - fees which are lower than those of other Corporate Trustees.

 

Objectivity and Independence. A Corporate Trustee administers the trust objectively, with close attention to the provisions of the trust document. We offer either sole administration of the trust or we will work in conjunction with other individual or corporate co-trustees.

 

Protecting Your Family From Generation-to-Generation With Trustee Continuity. Unlike

Individual Trustees, Corporate Trustees provide continuity of administration throughout the years,

making decisions that benefit your children, grandchildren and beyond.

 

Professional and Technical Expertise With Adherence to Government Regulation. Corporate Trustees are regulated by both State and Federal agencies. A Corporate Trustee is responsible for maintaining professional standards for your trust and its beneficiaries.

 

Take Comfort In Knowing Your Trust Is Professionally Administered, With Beneficiaries

Properly Cared For.  Hire a Commonwealth Trust Company Directed Corporate Trustee and rest assured that your trust administration will be handled expertly and professionally.

 

When Considering a Corporate Trustee, Consider

Commonwealth Trust Company

 

An Independent Delaware Trust Company Established in 1931

 

The Delaware Advantage

 

·         Delaware law allows the formation of asset protection trusts which shield assets from certain classes of creditors and allow the settlor of the trust to remain a potential beneficiary.

 

·         There is no Delaware income tax on ordinary income or capital gains accumulated or distributed for non-resident beneficiaries, and if a Delaware trust company is named as administrative trustee, income tax in the beneficiaries’ home state may also be avoided.

 

·         There are no Delaware intangible personal property taxes, and no Delaware death taxes, except in limited circumstances.

 

·         Delaware allows the creation of dynasty trusts which can last indefinitely without imposition of additional estate or gift taxes.

 

·         Trust accounting rules are streamlined and may be eliminated if the settlor so desires.

 

·         Delaware law recognizes spendthrift trusts and provides virtually complete protection from claims of creditors for a trust beneficiary, especially if the trustee is a Delaware bank or trust company.

 

·         Delaware does not require trust agreements to be filed or recorded, and if they are subject to litigation, the Chancery Court has been willing to place the court record under seal.

 

·         Delaware permits the settlor of a trust to limit the number of beneficiaries who are to receive notice of the trust, both during the settlor’s lifetime and after his or her death.

 

·         Delaware permits the settlor of the trust to establish his or her own investment policy in the trust instrument, and permits the use of investment advisors of their own choice to advise the trustee without breaching the trustee’s fiduciary responsibility.

 

·         The Chancery Court has a history of seeking to determine the settlor’s wishes and the settlor’s intention, as demonstrated in the trust instrument.

 

 

About Commonwealth Trust Company

 

Commonwealth Trust Company is a non-depository trust company that serves as Corporate Trustee for various types of Delaware situs trusts including:

 

  • The Delaware Dynasty Trust
  • The Delaware Asset Protection Trust
  • Life Insurance Trusts
  • GRATS
  • Charitable Trusts

 

What makes our service unique is that we only perform trust administration, offering you the resource needed to take advantage of Delaware trust law while working with your current trusted advisors and never replacing them.

 

Since we only perform administrative services and do not provide investment services, our structure permits you to use your existing investment advisor. Delaware law also permits you to use a distribution advisor and a trust protector of your choosing.

 

We are professional trust administrators with a well trained, responsive staff. Our goal is to provide our clients with the best service experience.

 

With our staff of highly skilled professionals, Commonwealth Trust Company offers you and your client experience and integrity. We have been engaged in trust services for over 70 years gaining extensive expertise in business and fiduciary matters. You will benefit from our expertise and will find we respond quickly and efficiently to all trust matters.

 

 

*This information is not meant to convey legal or tax advice.

You should contact the appropriate advisor on these matters.

 
Copyright 2008 Commonwealth Trust Company. This Information Is Not Meant To Convey Legal Advice.