What Every New York Advisor Should Know About Delaware Trusts
Anne Marie Levin is Senior Vice President and National Fiduciary Advice Leader for Key National Trust Company of Delaware who works with clients and their advisors across the country in considering, planning, and drafting Delaware Trusts. Anne Marie is a frequent speaker to professional organizations nationwide and is a prolific author in professional publications on a variety of trust topics.
For this presentation, Anne Marie will review the reasons why, in certain circumstances, New York residents should consider creating trusts in, or moving existing trusts to, Delaware: privacy and confidentiality, greater control and flexibility, creditor protection, and tax savings.
Using examples that will spark recognition and interest, Anne Marie will highlight the distinctions between New York and Delaware personal trust laws in discussing increasingly popular estate planning strategies, including:
- Dynasty Trusts: Perpetual trusts
- Directed Trusts: Use of Investment/Distribution Advisors and Trust Protectors for greater control and flexibility
- Silent Trusts: How to create a trust that limits the Trustee’s duty to inform beneficiaries
- Asset Protection Trust
- Who can benefit?
- Premarital planning with a DAPT (HOT TOPIC)
- DAPTs to protect assets of Tax-Exempt Organizations (HOT TOPIC)
- Delaware Tax-Advantaged (DING) Trusts: The effect of NY’s new budget law on DING Trusts in New York; how a New York resident can still save state income tax with a Delaware trust