Asset Protection

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What r ur views on the spendthrift (i.e., asset) protection trust laws of NV, WY, AK, DE, etc?

what about in comparision 2 offshore trusts?

Comments(1)

  • tbouman20th December, 2004

    Unfortunately, the spendthrift protection offered by these states has not yet been tested in court. Many commentators (myself include) believe they will fail. Offshore trusts will work, but require some willingness by the client to repatriate to a foreign country should a serious creditor issue arise. Otherwise the judge may put them in jail for contempt. The client must truly give up control of the assets for the plan to work. The domestic trusts don't hurt, so they may be worth a shot. See an asset protection attorney for good advice.

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