The goal of this series is to explain different principles upon which asset protection planning rests. In this article, we will explore in what specific scenarios asset protection planning may be of particular significance, and some tools that are available for implementation. BASIC STRATEGIES: One of the simplest strategies of asset protection involves various exemptions allowed…

Alaska was the first US jurisdiction to enact laws allowing protection for self-settled trusts (in 1997) and was shortly followed by Delaware, Nevada, South Dakota and a few others. These trusts are known as Domestic Asset Protection Trusts (DAPTs). Usually, a DAPT must comply with the following requirements: The trust must be irrevocable and spendthrift;…

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