Personal Finance
Personal Finance
Asset Protection
Delaware offers individuals and businesses a unique climate for protecting and perpetuating wealth. It is distinguished for its tradition of favorable personal trust laws which help wealthy individuals preserve wealth for themselves and future generations.PNC offers the benefits of Delaware Trusts through the PNC Delaware Trust Company.
At one time or another you may have faced the specter of a lawsuit that threatens your personal wealth. Individuals in some professions are more likely than others to face an increased risk of lawsuits, Entrepreneurs and corporate board members are not exempt. But there is a way, to protect your assets from potential future liabilities, if you act today.
Passing your wealth to future generations can be complicated. Substantial federal gift and estate taxes are imposed on wealth - transferred during your lifetime and at death . Even worse, there is a third tax, known as the generation-skipping transfer tax imposed at the highest transfer tax rate that assesses an additional penalty on assets transferred to grandchildren and great grandchildren. PNC Wealth Management can help you pass on your assets without seeing your legacy decimated by taxes. A Delaware Dynasty Trust allows trust assets to grow free of future gift, estate and generation-skipping transfer taxes.