The state of Delaware, not to be outdone by Alaska's bid to become an attractive locale for personal trusts, has passed a law that keeps pace with a measure recently adopted by the 49th state.

In April, Alaska surprised many by enacting legislation to encourage the nation's wealthy to put their money in trust in the state. Alaska's trust law is meant to emulate some advantages of offshore trusts, such as tax savings and protection of trust assets from creditors.

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