Delaware · Public trust company
Commonwealth Trust Company
Services offered
- Directed / administrative trusteeship
- Personal trust administration
- Tax, accounting, and Delaware-situs maintenance
- Discretionary distribution authority when appointed
Who it is for
- Families and advisers using Delaware directed trusts
- Clients who want to keep existing wealth-management, financial, and legal advisers
Sourced facts
- Named as a state non-deposit trust company in the Delaware Office of the State Bank Commissioner financial-institutions list.
- The firm states it is located solely in Wilmington and is regulated by the Office of the State Bank Commissioner.
- A firm brochure describes more than 85 years as an independent Delaware trust company. LinkedIn company materials list 1931 as the founding year.
Notes
Commonwealth Trust Company is a Delaware state-chartered, non-depository trust company, listed by the Office of the State Bank Commissioner among state non-deposit trust companies. The firm says it is located solely in Wilmington, at 29 Bancroft Mills Road, and is independently owned.
The public site is a directed-trust manual. Commonwealth describes itself as an administrative trustee under Delaware’s bifurcation statute: custody, records, accountings, tax filings, and execution of directions, while investment advisers keep the book. It will also take distribution discretion when appointed. That is the Delaware directed-trust product, without a bank wealth-management overlay.
What to verify next
This is the cleanest “administrative trustee only” story in the Delaware set. Confirm current OSBC status and the Bancroft Mills address, whether Commonwealth will also take distribution discretion, and how it handles unique assets, K-1s, and international reporting. Ask for a current fee schedule and whether there is any affiliated investment or custody product. If the family wants a bank-balance-sheet trustee, this is the wrong name.