In this issue we will examine the importance of proper design of the asset protection trust, and, integrally related to proper trust design, the importance of competent, experienced counsel. We’re sure you have all heard the expression, “bad facts make bad law”. That is the unfortunate circumstance of Mr. and Mrs. Anderson. Adding insult to injury, incompetent or inexperienced counsel can make matters even worse.
Many seminars and articles of late have introduced the concept of domestic asset protection trusts (APT’s). This is primarily a result of the 1997 enactment of “protective” trust legislation by Alaska and Delaware. In this issue we will examine how effective these domestic asset protection trust laws are in protecting assets.