The Importance of Trusts in Asset Protection -- A Comprehensive New Article Published

Trusts are very frequently used in asset protection planning. Noted asset protection attorney Jacob Stein provides a well-thought out and whole summary of the use of trusts in asset protection, and also how asset protection needs play into trust drafting. According to Mr. Stein, "Not all types of trusts are effective asset protection devices, but a properly drafted and structured trust may be an almost impregnable form of asset protection."

The article covers revocable and irrevocable trusts, spendthrift clauses, discretionary trusts, dynasty trusts, self-settled trusts, domestic asset protection trusts and foreign asset protection trusts. Specific trusts discussed include living trusts, personal residence trusts and offshore asset protection trusts.

Issues covered by the article include trustee selection, choice of discretionary powers, protecting settlers and beneficiaries and selection of governing jurisdiction. Foreign asset protection trusts are expansively covered by the article, including a discussion of recent case law and the viability of this frequently used planning technique. The article draws on legal rulings and Mr. Stein's extensive practical experience in asset protection to logically and clearly reveal how to make trusts effective asset protection devices.