Asset Protection Trust

Irrevocable Life Insurance Trust
April 19, 2016
Records Location Worksheet
April 25, 2016
Show all

Asset Protection Trust

An Asset Protection Trust (“APT”) is a self-settled spendthrift trust. The Grantor puts the Grantor’s assets into the APT for the Grantor’s benefit.  The assumption is that such assets are then unavailable to the Grantor’s creditors.  Only 14 states permit self-settled asset protection trusts:  Alaska, Colorado, Delaware, Hawaii, Missouri, New Hampshire, Nevada, Oklahoma, Rhode Island, South Dakota, Tennessee, Utah, Virginia, Wyoming.  There are serious limitations and exclusions to the effectiveness of such trusts.  There are other domestic asset protection devices that work much better.

Leave a Reply