There are now some U.S. states that passed laws allowing the establishment of an asset protection trust. ?Alaska was among the first of those states, quickly followed by Delaware and Nevada. ?There are at least ten states that allow this kind of domestic asset protection planning. ?This trend is in response to voter demand for this type of legislation, with the hope that people can protect a portion of their assets without moving ownership of these assets offshore. ?As often happens, there is some competition among the states for the most aggressive legislation, because, with the trusts attracted to those states, there almost certainly follows more tax revenue.
Excerpt from The Complete Guide to Estate and Financial Planning in Turbulent Times (Collaborative Press, 2011) - Walt Dallas, Contributing Author
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