I generally believe that self settled spendthrift trusts (also called domestic asset protection trusts) are used more often than they should be. They are not a great asset protection vehicle, especially because of the new changes to the bankruptcy code that allows the bankruptcy trustee to look back 10 years. However, there are some good uses. One such use would be to essentially protect a person from himself or herself (i.e., to help conserve an asset or investment).
There is a new article about this topic on my website. Click here to see the article.
I hope this information is helpful. Paul Deloughery
(You can contact me directly by email at paul@delougherylaw.com or phone at 602-443-4888. For more information, visit www.delougherylaw.com)
The information in this blog is general in nature and is not intended to address any particular situation.
Tuesday, April 14, 2009
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