With the increased exemption amounts for 2020, clients’ initial reaction might be that there is less need for estate planning or trusts. So NOT true. Clients enter the estate planning process and create trusts to CONTROL wealth. Reducing taxes is…
2019 was certainly a year where everything seemed to work. Almost all major asset classes were up double digits with US Equities leading the way returning over 30% for the year, the first time that’s happened in a calendar year…
Has it been a year already??? A year ago we started our Blog page to share our insights, thoughts and updates to our readers. Our goal? To showcase the intellectual capital of First State Trust Company and let our readers…
How Do I Know Which Way to Go? Families often desire to leave money in trust for future generations. A trust can provide safety and security that the money will go as the wealth creator directs. Aside from the actual…
Your loved one has passed, a few days or weeks have gone by, the phone is ringing from various “helpful” people and you may not fully understand the language of Estate Settlement, Wills and Trusts, Life Insurance, Retirement Benefits or…
Changes to Delaware trust laws were passed by both houses and approved by Governor Carney on June 19, 2019. The amendments concern (1) a fiduciaries ability to appoint agents and assign fiduciary duties to such agents, (2) the power to…
After experiencing the worst quarterly performance since the financial crisis to end 2018, the S&P 500 has rebounded sharply posting positive returns in 5 of the first 6 months of the year and returning over 20% through the end of…
PLANSPONSOR just reported on: The Department of Labor (DOL) has issued a final rule to help more employers offer retirement savings benefits through ‘Association Retirement Plans’ (ARPs). The rule, which will go into effect on September 30, will permit employers…
Recently the SECURE Act (Setting Every Community Up for Retirement Act of 2019) passed the House but the Act is currently stalled in the Senate. It is expected to pass once a few provisions are ironed out. One of the…
You often hear that Delaware is a “trust friendly state.” The reason is because Delaware has focused on generational planning for high net worth families. It has enacted fiduciary laws to allow for modifications within irrevocable documents. It allows for…