Asset protection trusts that really work
by Colombik, Richard M
Many commentators have come out and advised various parties that foreign asset protection trusts really do not work. The reality is they do! A properly drafted foreign asset protection trust gives one protection against creditors. How do they work? How can you set them up? What do you do? This article will explore what a foreign asset protection trust is and how it works.
What is a Foreign Trust?
In its simplest terms, a foreign asset protection trust, hereinafter referred to as an APT, is a trust that is drafted in accordance with, and governed by, the laws of a foreign country designed to protect assets from all creditors. This gives the creator, settlor of the trust, the choice of which coun...
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