New York Private Trust - A Delaware Trust Company

Articles and White Papers

Decanting Basics

May, 2013

Decant: pour something gently into another container The term “decant”, popular with cooks, chemists and wine lovers, has been adopted by trust lawyers to describe a non-judicial process for distributing the assets of an old trust (the distributing trust) into a new trust (the receiving trust). Decanting is usually easier to accomplish than traditional reformation,...  read more

12 Reasons Why One Should NOT Appoint an Individual as Trustee

April, 2013

Richard P. Trumpler, TEP, Chief Operating Officer. That is a very bold and debatable statement, but it is based upon four decades of working in the trust industry, observing the operation of trusts administered by both individual and corporate trustees, and talking with countless trust beneficiaries. Let’s begin by exploring what is behind that statement....  read more

Agent for Trustee Services

February, 2013

By Richard P. Trumpler, TEP. An individual’s decision to accept appointment as a trustee is often the result of an emotional tie of loyalty, kinship or friendship with the trust’s creator.  That acceptance, however, imposes an extraordinary responsibility which may last for several decades. Individuals undertaking these services soon realize that they also have very...  read more

Why Your Clients Still Need Trusts

January, 2013

FINANCIAL ADVISORS, DO NOT IGNORE THE ADVANTAGES OF TRUSTS TO YOU AND YOUR CLIENTS, SIMPLY BECAUSE THE NEW FEDERAL GIFT AND ESTATE TAX COMBINED EXEMPTION OF $10 MILLION BECAME PERMANENT! By now you know: The perversely-named “Taxpayer Relief Act of 2012" permanently extended the $5.12 million gift and estate tax exemption (with annual inflation adjustments)....  read more

How to Move Any United States Trust to Delaware

May, 2012

By Richard P. Trumpler, TEP. Introduction A Trust’s Home State is important. All trusts in the United State must have at least one home state. Oddly enough, a trust may have more than one home state. Lawyers call a trust’s home its situs to prove that they know some Latin, but for the purposes of...  read more

Riding the 2012 Trust Tsunami

May, 2012

How to Prepare for the Lapsing $5 Million Gift Tax Exemption By Richard P. Trumpler, TEP. Use the Summer Lull to Get Your Clients Ahead of a Stormy Tax Season Summer is traditionally when investors leave town and many advisors catch up on paperwork, vacation time or sleep. But this year, signs of a storm...  read more

Delaware Advantages for International Wealth Planning

February, 2012

By Richard P. Trumpler, TEP. Introduction Dozens of articles have highlighted the advantages of using the laws of Delaware to implement a variety of wealth planning strategies for wealthy families in the United States, regardless of their home state. These strategies include the use of personal trusts and a wide variety of business structures, such...  read more

The Foundation of the Delaware Mystique

January, 2012

By Richard P. Trumpler, TEP. Managing Director, New York Private Trust Company Many trust and estate professionals are already aware of Delaware’s statutory attitude which facilitates the ability of businesses and individuals to control their wealth without undue interference from state restrictions. Delaware corporate law is the standard against which all other corporate law is...  read more

And Another Thing About Delaware…

January, 2012

By Richard P. Trumpler, TEP. Chief Operating Officer, New York Private Trust Company The raging battle among jurisdictions about which state is most hospitable to the needs of wealthy families usually focuses on the various statutory tools which states have enacted to govern trusts. These typically include a comparison of statutes governing: self-settled asset protection...  read more

How to Select an “Advisor Friendly” Trustee

January, 2012

By Richard P. Trumpler, TEP. Chief Operating Officer, New York Private Trust Company Investment advisors for high net worth individuals and families often recognize that their clients should create trusts to meet their financial goals. They also often become aware that their clients have established trusts holding liquid assets which are beyond the manager’s reach...  read more