Below you'll find a list of all posts that have been categorized as “Trusts”
Stephen Speiser, Esq. September 2024 In the realm of wealth management and asset protection, trusts play a pivotal role in safeguarding assets against potential creditors, legal judgments, and other financial risks. Two prominent types of trusts utilized for these purposes are Foreign Asset Protection Trusts (FAPTs) and Domestic Asset Protection Trusts (DAPTs). Each type offers unique features, legal protections, and …
Stephen Speiser, Esq September 2024 When it comes to protecting assets from potential creditors, lawsuits, or other financial threats, establishing an offshore trust in a jurisdiction with strong asset protection laws can be a strategic move. Among the most popular jurisdictions for foreign asset protection trusts are the Cook Islands, Nevis, and Belize, and to a somewhat lesser degree the …
Stephen Speiser September 2024 Foreign Asset Protection Trusts (FAPTs) are a powerful tool for safeguarding assets from potential creditors and legal disputes. However, when it comes to divorce, the effectiveness of these trusts can be put to the test. Divorce proceedings often involve complex asset division and can lead to intense scrutiny of any trusts established by either spouse. In …
By Stephen Speiser, Esq. June 2024 The vehicle of choice for many high-net-worth families engaged in offshore asset protection planning is the international asset protection trust (“IAPT”). The principal reason IAPTs are popular is because the trust can lawfully hold assets outside the jurisdiction of the United States where they are beyond the reach of U.S. creditors. In addition, IAPTs …
By Stephen Speiser, Esq. We need to have a serious conversation about domestic asset protection trusts (DAPTs). By our last count, 20 states now have DAPT laws: Alabama, Alaska, Connecticut, Delaware, Hawaii, Indiana, Michigan, Mississippi, Missouri, Nevada, New Hampshire, Ohio, Oklahoma, Rhode Island, South Dakota, Tennessee, Utah, Virginia, West Virginia, and Wyoming. Yet, the rush to implement DAPT legislation – motivated by state bar …
By: Stephen Speiser, Esq. February 1, 2024 Can Asset Protection Save His Fortune from Manslaughter Charges? The once bright future of Alec Baldwin is now in serious peril. On Friday, January 19, 2024, a New Mexico grand jury indicted the Emmy-award winning actor and director on involuntary manslaughter charges stemming from the October 2021 fatal shooting on the film set …
From time to time, we are asked about using foundations as a substitute for asset protection trusts. In our judgment, there is no substitute for a competent, well crafted trust. This does not mean, however, that foundations should not be used in asset protection planning. For clients with charitable goals and objectives, foundations provide an excellent vehicle to satisfy those …
A state’s enactment of a DAPT law should be regarded as the state legislature’s expression per se “actual intent” under the UVTA not be imputed in any form of asset protection planning. While this is an incredibly broad inference, it reflects the reality that DAPTs do not exist in a vacuum.
There are three basic elements of a true “offshore” asset protection plan: (i) the legal structure (trust or business entity) must be formed outside the U.S. in a safe jurisdiction; (ii) the assets have been successfully migrated to the offshore legal structure; and (iii) legal control of the structure must be vested in persons or trustees who are not subject to U.S. jurisdiction.
The Swiss Hybrid Trust constitutes an asset protection vehicle unattainable in any one jurisdiction alone.
