Del. Matches Alaska Law Attractive to Personal Trusts
Fraser, Katharine, American Banker
The state of Delaware, not to be outdone by Alaska's bid to become an attractive locale for personal trusts, has passed a law that keeps pace with a measure recently adopted by the 49th state.
In April, Alaska surprised many by enacting legislation to encourage the nation's wealthy to put their money in trust in the state. Alaska's trust law is meant to emulate some advantages of offshore trusts, such as tax savings and protection of trust assets from creditors.
Reaction was swift in Delaware, a traditional personal trust haven, which responded this month by enacting a law that also protects trust assets from creditors.
In a state whose history is intertwined with …
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Publication information: Article title: Del. Matches Alaska Law Attractive to Personal Trusts. Contributors: Fraser, Katharine - Author. Magazine title: American Banker. Volume: 162. Issue: 141 Publication date: July 24, 1997. Page number: 9. © 2009 SourceMedia, Inc. COPYRIGHT 1997 Gale Group.
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