Wealth Advisory Solutions for Professional Advisors - Case Study
Wealth Advisory
Professional Advisors
Case Study

Wealth Advisory

Case Study: The Benefits of Collaboration

Helping a long-term client plan for the future and retain his relationship with a trusted outside advisor.

Profile: John, a resident of Pennsylvania and long-term Wilmington Trust business client, was ready to transition his business to the next generation, but his daughter was not interested in being part of the continuing business. John wanted to ensure that she received her fare share of his assets but was hesitant to establish a trust. He had worked with the same investment advisor for more than 20 years and does not wish to sever that relationship.

Solution: John's relationship manager suggested that he establish a Direction Trust in Delaware in order to take advantage of the investment direction feature allowed by the state, as well as a host of other tax advantages and flexible benefits adopted by that jurisdiction. With the Direction Trust, John would be able to name Wilmington Trust as the Corporate Trustee while delegating the investment management of the trust's assets to his long-term investment advisor.

Result: John found the best of both worlds with the Delaware Direction Trust: he had the comfort of naming a trustee with whom he had been working for many years to handle the fiduciary and administrative aspects of his daughter's trust, while retaining the services of his trusted hometown investment advisor. John expressed a great deal of comfort in knowing that Wilmington Trust was open and committed to working harmoniously with his other trusted advisors.

Specific details related to this case study have been changed or deleted to insure confidentiality.

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