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?

What are the different types of asset protection trusts?

There are multiple types of asset protection trusts, including: A domestic asset protection trust is established within the U.S. Note that since these are a relatively new type of trust, not all states allow them to be established, and states that do allow them have varying rules.