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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.
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