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February 10, 2021

Be Aware of the Money Mule Scam

When one hears the term “money laundering,” the image that typically comes to mind is of a mastermind criminal disguising their wealth.  For example, a wealthy but crooked business tycoon that has concocted a genius plan to move funds of…

January 20, 2021

Delaware Trust Act 2020

Delaware Trust Act 2020 House Bill 334 was passed by both houses and approved by Governor Carney on August 6, 2020. Section 3343, Trust Act 2020 revises new Section 3343, which allows a person responsible for changing fiduciaries of a…

January 5, 2021

Good Riddance Then Hope

Good Riddance then Hope Good riddance is the general sentiment of many regarding 2020.  I know it is for me.  Given the number and magnitude of negatives in the past year one could pen a poem titled: How do I depress thee? let…

December 21, 2020

The Current Pandemic and Worthless Securities

The current Pandemic and Worthless Securities The economic effects of the worldwide spread of COVID-19 continue to harm many different businesses and industries.  As a result of this business loss across many sectors (especially travel-related and retail), it is essential to…

December 7, 2020

Why Certified Statements Matter

Like most individuals, plan administrators are tasked with finding ways to save money on the plans they administer.  Plans are often reviewed every 3-5 years and Request for Proposals are sent out to ensure they have the best pricing for the…

November 23, 2020

The Election and Our Investments

November 23, 2020 Every four years, we all, try to predict which candidate will be better for the economy and the stock market.  We go through this emotional roller coaster every four years.  If we think of some prior elections, we were…

October 26, 2020

State Unclaimed Property Programs May Help Find Missing Participants

An article in Plan Sponsor from July reported that the Advisory Council on Employee and Pension Benefit Plans has issued a report to Secretary of Labor Eugene Scalia on transferring amounts from uncashed checks from retirement plans to state unclaimed…

October 11, 2020

Uncertainty All Around

Here at First State Trust Company, we utilize a variety of market commentary from our partners to keep our investment committee up to date on market trends and overall investor sentiment. Over the recent quarter, I have noticed an overwhelming…

October 7, 2020

Election 2020 – Biden’s Proposed Tax Changes

The upcoming election could have a considerable impact on future estate planning and gifting decisions. The budget deficit has also never been higher that it is today, and with the impact of COVID the budget deficit is only to increase.…

September 17, 2020

I Wish I May I Wish I Might… Letter of Wishes

Trustees are often tasked with interpreting discretionary distribution language in a trust document.  Most professional trust companies have developed formal processes to ensure decisions regarding discretionary distributions – when the trust language is liberal – are made consistently without the…

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