Clients with complex estate planning needs, including those with significant liability exposure who need to take "asset protection" measures, will often set up their trusts in the state of Delaware, which is the home of some of the nations oldest trust companies and has a highly developed law of trusts.
Delaware has made some significant changes to its trust laws which take effect this coming Monday, August 1, 2011. The changes include improved protection from creditors for assets held in trust, and revisions to the "decanting" statute which allows a trustee to create another trust and transfer assets to it. You can read or download a detailed summary of the changes here.
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