Seventeen states now allow for self-settled Domestic Asset Protection Trusts (“DAPTs”). Those states are Alaska, Delaware, Hawaii, Michigan, Mississippi, Missouri, Nevada, New Hampshire, Ohio, Oklahoma, Rhode Island, South Dakota, Tennessee, Utah, Virginia, West Virginia, and Wyoming. What is a DAPT? The trust is domestic rather than international. In other words, it’s set up in the United States. There are offshore asset protection trusts, which have their own set of issues. But … [Read more...] about Domestic Asset Protection Trusts
