Personal Trust Services
WSFS Wealth provides personal trust services in Delaware through Christiana Trust Company of Delaware, a subsidiary of WSFS Financial Corp., and in Nevada through WSFS Bank.
Join the other individuals, families, financial advisors, businesses, and institutions who have found Christiana Trust Company of Delaware to be a firm uniquely responsive to clients’ needs. Christiana Trust Company of Delaware and its affiliate, WSFS Bank, administer approximately 1,100 accounts ranging in assets from under $1,000,000 to in excess of $1,000,000,000 for very successful families. Whether you are interested in personal trusts, or other asset management services, our financial experts are here to help you reach your goals.
About Christiana Trust Company of Delaware
From our beginning, Christiana Trust Company of Delaware has been dedicated to providing exceptional personal service and professional assistance to individuals, families, and corporate and institutional clients. Christiana Trust Company of Delaware has built a worldwide reputation for the administration and servicing of trust and asset management accounts of all types.
Christiana Trust Company of Delaware is an affiliate of WSFS Bank, a Delaware institution founded in 1832 and one of the ten oldest banks in the United States continuously operating under the same name. WSFS Bank also has an office in Nevada that was established in 2001.
Adding to WSFS’ history of world-class service, Christiana Trust Company of Delaware adds its own proud traditions and expertise. When you work with us, you secure the advantages of our:
- Extensive Experience
- Exceptional Service
- Dedicated Trust Administrators
- Exclusive Individualized Approach
We offer our personal trust services primarily though Christiana Trust Company of Delaware and through our bank affiliate, WSFS Bank.
Types of Personal Trusts Offered by Christiana Trust Company of Delaware and WSFS Bank
Asset Protection Trust
An Asset Protection Trust is an irrevocable trust that is created in order to protect assets from potential creditor claims. Asset Protection Trusts are particularly useful for clients in certain professions, such as physicians and attorneys.
A Cross-Border Trust is a trust with one or more foreign components, such as a foreign grantor, a foreign beneficiary, or a foreign power holder. Cross-Border Trusts allow grantors to take advantage of the U.S. legal and economic system while retaining the flexibility to have the trust treated as foreign or domestic for income tax purposes.
A Directed Trust is a trust in which third parties are authorized to direct the trustee with respect to investments and/or discretionary distributions to beneficiaries. This is advantageous for the grantor, as they may either directly control or appoint trusted individuals or institutions to control the investments and/or distributions for a trust.
Dynasty / Legacy Trust
A dynasty trust can offer substantial tax savings over time, thereby permitting the trust to accumulate value and benefit successive generations, as well as offer creditor protection. Delaware Dynasty Trusts can exist in perpetuity, while Nevada Trusts can last for 365 years.
Fully Discretionary Trust
A Fully Discretionary Trust is a trust in which Christiana Trust Company of Delaware has full discretion with respect to the management of investments/assets of the trust, and any decisions to make, or refrain from making, pertaining to distributions to the trust’s beneficiaries.
Life Insurance Trust
There are two forms of life insurance trusts that are provided by Christiana Trust Company of Delaware. A Directed Life Insurance Trust is an irrevocable, non-amendable trust which is both the owner and beneficiary of one or more life insurance policies. Meanwhile, a Private Placement Life Insurance (PPLI) policy can provide both tax-free wealth growth and solid estate protection for your heirs. Wealthy families, family foundations, trusts, corporations and banks work with us to create personalized life insurance contracts, designed to reduce tax burdens.
Unlike a traditional common law trust, which is considered solely a fiduciary relationship, a Delaware statutory trust may elect to be treated as a separate legal entity, thereby offering greater flexibility and legal certainty for the management and administration of business assets and commercial transactions. Although statutory trusts are permissible in other states (sometimes referred to as “business trusts” in those states), Delaware is the widely recognized as the premier statutory trust jurisdiction because of its comprehensive statutory framework and dedicated Court of Chancery.
Large bank sophistication and execution combined with personal attention and service are the focus of our custody services. Our tested state of the art technology, combined with administrative flexibility, ensures that our clients receive custody services that are second-to-none.
Learn more about the advantages of opening a trust in:
Nevada — The primary benefit to opening a trust in Nevada is that the state does not impose state income tax on trust income and capital gains that is accumulated for distribution to nonresident beneficiaries. There is also increased privacy and flexibility in Nevada.
Delaware — There are many advantages to opening a trust in Delaware. A key benefit is that Delaware does not impose state income tax on trust income and capital gains that is accumulated for distribution to nonresident beneficiaries. In addition, there is confidentiality, flexibility, and a very prominent judicial and legislative environment for disputes involving trusts.
Why Choose Us?
Carefully implemented trust and asset management strategies can be instrumental in providing for the continued wellbeing of individuals and their families. When Christiana Trust Company of Delaware acts as trustee, it does so in a personal and experienced manner that is tailored to each client’s requirements and expectations.
Our firm is staffed by knowledgeable and caring professionals committed to a high level of personal service. Working with the client’s trusted advisors, we provide the expertise needed to implement a strategy that will meet the client’s needs and objectives.
Frequently Asked Questions
What is a Personal Trust?
The need for personal trust and investment services has never been greater. Individuals and families with substantial assets require workable, effective ways to help them minimize the impact of income and estate taxes, manage their financial assets, and ensure that they and their beneficiaries will be secure and protected, no matter what the future may bring.
Benefits of a Personal Trust
Control your wealth — A Personal Trust allows you to control the investment, management, and distribution of your wealth for future generations by setting rules and guidelines and appointing trusted independent fiduciaries and power holders to carry out your wishes for generations to come.
Protect your estate — A properly structured Personal Trust allows you to protect your estate from tax, creditors, or any other external threat for generations to come. A Personal Trust can be structured so that it is not accessible by beneficiaries’ creditors and will not be subject to estate, inheritance, or generation-skipping transfer tax at each generation.
Provide for your heirs — By allowing both the control and protection of your wealth, a Personal Trust provides the opportunity to preserve your wealth to the maximum extent possible for your heirs. Investment and distribution policies can be tailored to balance the needs of both current and future generations in the manner you intend.
Ensure privacy and security of your wealth — Many states do not require court registration of Personal Trusts and have no mandatory court accountings, meaning that your Personal Trust does not become a public document and your estate plan can remain private. In addition, the Trustee has a fiduciary duty to keep your Trust confidential, unless required to disclose information by law. Furthermore, certain trust-friendly jurisdictions, including Delaware and Nevada, permit the Trust Agreement to dictate how much information must be shared with the beneficiaries.
Investment Products: Are Not FDIC Insured | May Lose Value | Are Not Bank Guaranteed
Todd B. Hammond, CTFA, TEP
VP, Business Development Officer
We provide high-quality trust services to help you prepare for tomorrow.
The markets and the economy are ever-changing, making it hard to keep up sometimes. Let WSFS help you make sense of it all. Tune in to our Market Minute update from Andrew N. Davis, CFA®, Director of Research at West Capital Management, a subsidiary of WSFS Financial Corporation.Read More
One area of the equity markets that often gets neglected is the mid cap space. Investors and the media primarily focus on large capitalized companies. At certain times, small cap companies will be mentioned as pockets of opportunities to increase portfolio returns. But mid cap companies barely get any attention, as if they don’t even exist. I am of the opinion that over the intermediate term, mid cap companies could be fruitful investments within client portfolios.Read More
Business owners are a special breed: full of passion, grit, experience and persistence. They work a lifetime to build their businesses. However, while they pay themselves along the way, the real money, the wealth they have worked so hard to create, is primarily housed in their business.Read More