U.S. Asset Protection Trusts

The states of Alaska and Delaware have enacted legislation to encourage special trusts in their jurisdictions with estate planning and Asset protection benefits. Each of these states promote their trusts as an alternative to the international trust and for good reason, many Americans are more comfortable with a U.S.-based trust, rather than one based internationally. This is the selling point of the Domestic Asset Protection Trust or DAPT.

Despite the popularity of Alaska and Delaware trusts, several other states have comparable trust laws including Rhode Island, Colorado and Nevada. In fact, the Nevada trust may be the most protective domestic trust in a comparison of laws from these competing trust jurisdictions. Nevada trusts have the shortest statute of limitations for a creditor to file suit and the settler of a Nevada trust can also be a beneficiary and retain more control without reducing their protection.

No domestic trust in any state will provide complete protection against a fraudulent transfer claim and the DAPT provisions of the states we have referenced are designed for estate planning purposes and not for creditor protection. In fact, many states constitutionally recognize and enforce judgments and court orders from other states, so considering an international trust is an important requirement of comprehensive estate planning and Asset Protection.

PROTECT YOUR ASSETS TODAY!