Trust & Estate Services
Specialized Trust Services
David A. Diamond
President, The Northern Trust Company of Delaware
Kerry J. Hall, CFTA
Senior Trust Advisor
Tax-efficient and confidential trust solutions
Safeguarding and Preserving Your Wealth
Your personal wealth is complex, with detailed tax and legal considerations. Northern Trust offers specialized trust services in Nevada and Delaware for residents and non-residents to help take advantage of strategic tax benefits unavailable in many other U.S. states.
Minimize Taxes on Trust Assets
Establishing an irrevocable trust in Delaware or Nevada can impact the tax burden on assets held in those trusts. Northern Trust works with you to understand your priorities and craft the right solutions across a range of taxes.
- State income tax
- Transfer tax
- Capital gains tax
- Generation-skipping tax
- Tax on intangible personal property such as stocks, bonds and mutual fund shares
Video: Flexibility in Designing Your Trust (1:46)
Directed Trusts let you choose third parties to manage, invest and administer trust assets. Learn more about these flexible trusts and find out if they're rights for you.
The State of Delaware promotes innovative trust laws and can offer attractive income tax advantages for high-net-worth families and individuals. As a result, if you establish an irrevocable trust (a trust that can only be modified or terminated by your beneficiary) in Delaware you may be able to employ several strategic advantages that may not be available in some other states.
The state of Nevada is a trust-friendly jurisdiction with significant legal and tax benefits for residents and nonresidents. Since Nevada does not have a state income tax, and therefore does not impose any fiduciary income tax on Nevada trusts, accumulated and capital gains realized in a Nevada trust are not taxed by Nevada, providing the potential for considerable tax savings.
Confidential, Private and Flexible
As a trustee, you may want to keep information about the trust private, including the existence of the trust itself. Both Delaware and Nevada enable significant confidentiality regarding a trust's existence and its terms. Northern Trust can help you establish a confidential (or silent) trust in Delaware or Nevada.
- Keeping all actions under seal
- Withholding information about the trust from beneficiaries
- Determining a prudent mix of investments while considering factors such as the current economy, beneficiaries’ ages and cash flow
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This information is not intended to be and should not be treated as legal, investment, accounting or tax advice and is for informational purposes only. Readers, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, accounting or tax advice from their own counsel. All information discussed herein is current only as of the date appearing in this material and is subject to change at any time without notice.
The information contained herein, including any information regarding specific investment products or strategies, is provided for informational and/or illustrative purposes only, and is not intended to be and should not be construed as an offer, solicitation or recommendation with respect to any investment transaction, product or strategy. Past performance is no guarantee of future results. All material has been obtained from sources believed to be reliable, but its accuracy, completeness and interpretation cannot be guaranteed.