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Estate Planning
: North Carolina Estate Planning BlogDomestic Asset Protection Trusts - What State is Best?
By Greg Herman-Giddens
A dozen states now offer what are called Domestic Asset Protection Trusts (DAPTs), which allow a trust grantor to shelter trust assets from creditors while retaining the right to distributions from the trust. North Carolina statutes do not provide for the formation of DAPTs, but NC residents can avail themselves of the laws of the states that do. One requirement of DAPTs is that there be a trustee in the jurisdiction in which the trust was created.
Here's a chart ranking DAPT states, created by Nevada attorney Steve Oshins.
Full post as published by North Carolina Estate Planning Blog on January 11, 2011 (boomark / email).
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