More recently, some jurisdictions began to allow self-settled trusts, or trusts where the person who establishes the trust is also a beneficiary. In legal parlance, that person is known as the ...
Consequently, in 1997 lawmakers in some states (beginning with Alaska) decided to permit “self-settled” trusts, in which the trust maker could set up an irrevocable trust that protected assets ...
Conceptually, a DAPT (also called a self-settled trust because you created or settled it for yourself, or an asset protection trust because a goal is to protect the assets in the trust for ...
If a trust maker wishes to be the beneficiary of the trust they are forming but does not live in a jurisdiction that permits self-settled asset protection trusts, the trust maker can choose to ...
You may want to take care of your children in your will but suspect that they would blow through their inheritance in just a few years. That’s when a spendthrift trust comes in handy. Also ...