Asset protection and dynasty trusts 9
by Fox, Charles D IV, Huft, Michael J
Continued from page 8.
Although Alaska, Delaware, Nevada, and Rhode Island have chosen to adopt laws that run contrary to the centuries-old traditions embodied in the Statute of Elizabeth, the courts in those states quite possibly will construe those laws strictly (and thus, in a creditor-friendly manner) to avoid the appearance that those states have somehow removed themselves from the mainstream of American legal doctrine. Instructive in this regard is the widely-reported decision of the High Court of the Cook Islands in 515 Orange Grove Owners Association v. Orange Grove Partners.198 The interlocutory nature of the proceeding, coupled with the apparent settlement of the case prior to a subs...
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