What is an asset protection trust?

Asset protection trusts are shielded from creditors and lawsuits. That means if you find yourself getting sued, the resources will not be considered as belonging to you, and the creditor won’t be able to demand payment or transfer of the asset. Assets held in a foreign trust can also be protected from divorce claims and civil actions.

Do you need an asset protection trust?

An asset protection trust can help you keep your assets from creditors, lawsuits and even divorce claims and civil actions. If you’re considering an asset protection trust, use this guide to determine which one may be best suited to your needs—and what process is required to properly establish one. What Is an Asset Protection Trust?

Why do you need a domestic asset protection trust?

Domestic asset protection trust can be critical if you have a lot of assets and huge liabilities. The primary rationale for establishing an asset protection trust is to shield your assets from creditors or individuals who may launch litigation to obtain immediate cash.