Several states like Utah, Nevada and Wyoming allow for creation of a self-settled spendthrift trust, or asset protection trust. An asset protection trust is a powerful tool that guards your resources from creditors. This type of trust is created by an individual and is irrevocable, but as the creator of an asset protection trust you can still maintain control of assets for investment and management purposes.

Designing the right wills and trusts is only one part of your overall plan for the future. You also want to engage in asset protection planning to protect the assets you have and maximize the ultimate transfer of wealth to your beneficiaries. We will help you create an asset protection plan, which is integrated with your current estate plan.

Do you want to insulate yourself from a frivolous lawsuit? If so, you want to come up with a comprehensive asset protection plan. Planning ahead is a must, once a lawsuit is commenced or threatened, it is often too late. As one of only a handful of states that has adopted the domestic asset protection trust, Utah, Nevada, and Wyoming are three states which provide favorable options for asset protection that are not available in other states. Also known as self-settled spendthrift thrust, this estate planning tool allows you to create a trust that makes it difficult for a creditor to access those assets. If you are interested in asset protection, you want to make sure you explore all of your options and come up with a plan that is right for you and your family. If you want to protect your savings from creditor attack and other lawsuits, we will help you explore the following options and more:

Domestic asset protection trust

Splitting assets

Gifts

Homestead and other statutory exemptions

Third party spend thrift trusts