Asset Protection Trusts
- Author Peter Emerson
- Published December 21, 2006
- Word count 315
Asset protection trust is an institution works to insulate assets from creditor attack. It is established to save and regain control over the protected assets upon the termination of the trust if there is no risk of creditor attack. Normally the trust structured in an offshore jurisdiction for a certain term of period. The person who established the trust called the ‘settlor’. It is almost impossible for the creditor to reach the assets provided the trust drafted properly and timely. In other words you can say that an asset protection trust is effective instrument to settle or discourage litigation. It keeps the proprietor of the assets very confidential.
Asset protection trusts are of two types namely, domestic and offshore. Domestic asset protection trust formed in the states of residing country. While offshore trust formed in a foreign land with different jurisdiction beyond the reach of residing country's laws. Both of them have same anti-creditor features. There are varieties of techniques to protect different categories of assets. Some are common and appropriate for everybody while others are appropriate for rich class people. There is one thing common in all asset protection trusts: they make it tough and difficult for a creditor to find or take assets. Properly drafted asset protection plan include asset protection trust and family limited partnership. In this plan anyone can legitimately put some of his assets out of the reach of creditors and still retain complete control over it. Traditional forms of asset protection techniques are gift of property, purchase of property in family member's name, squanderer provisions in life insurance contracts, etc. These are the oldest and common techniques that keep your creditor at bay.
As litigation is increasing day-by-day shielding of assets has become an important issue for rich and business class people. Asset protection trust is morally and legally right to protect one's assets from creditors, lawsuits and scams.
Asset Protection Trusts provides detailed information on Asset Protection, Asset Protection Trusts, Offshore Asset Protection, Asset Protection Strategies and more. Asset Protection Trusts is affiliated with Asset Management System.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- 3 Great Passive Income Ideas for New Moms and Dads in 2024
- Avrex IO Redefines Real Estate Investment with Innovative Tokenized Ownership Approach
- Panama City's Real Estate Market: Top Neighborhoods for Investment
- Investing in a Condo or Villa in Pattaya, Thailand
- Tabania Group Rings in the New Year with a Powerhouse of Financial Services, Unveiling a Comprehensive Suite for the Digital Age
- To What Extent Has Economic Growth Improved Quality of Life?
- How to Manifest Wealth in Your Life
- Unlocking the Potential: Making Money Online with Your Phone”
- Blue economy of the world
- This Financial “FORMula” Will Help You Plan Around What Matters Most
- Losing a Parent: A Checklist and Timeline of the Financial Aspects to Address
- How to Avoid Lifestyle Creep: Try this 50/50 Rule for Saving & Spending
- (Money) Date Night: Why You Need One and 5 Topics to Discuss
- Private Placement Life Insurance (PPLI) in Offshore Trust More Useful Than Ever
- Indexed Insurance Policies Hedge against Inflation
- Should You Invest Abroad? A Complete Guide to Buying Investment Properties in Thailand
- What Are Your Retirement Planning Options?
- Daily Income Opportunity With U-Farm
- Building a Comfortable Retirement: Tips and Strategies for Investing in Your Future.
- Revocable Living Dynasty Trust (RLDT)
- Key Retirement & Estate Planning Tools
- Captive Insurance -- Details
- INDEXED UNIVERSAL LIFE INSURANCE (IUL) ADAPTS TO INFLATION AND HIGH INTEREST RATES
- GRANTOR ACCESS TO IRREVOCABLE TRUSTS -- EASE THE STRESS OF COMPLETED GIFTS
- CASH BALANCE PLUS PLAN
- Tax-Free Income Making More Sense in Global Financial Crisis
- Dynasty Trusts Guard Personal Autonomy in Hierarchic Society
- Captive Insurance Company, CIC -- Reduce Taxes and Build Wealth
- What is an RESP?
- Private Placement Life Insurance, PPLI