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Let's Talk About What's Not Being Talked About (Delaware Statutory Trusts) Latest NewsA Delaware statutory trust is a legal entity under Delaware law in which an owner's creditor can't take possession of any of the trust's property. (a) Every statutory trust shall at all times have at least 1 trustee which, in the case of a natural person, shall be a person who is a resident of this State. On August 29, , Delaware Governor John C. Carney signed Senate Bill (�Trust Act �) into law. The legislation includes the.