What is a domestic asset protection trust?

Video Transcript

Only a few states in the United States allow an individual to create a trust for his or her own benefit and have it be protected from creditors. Florida is not one of those states. Nevada, Delaware, Alaska, South Dakota. Those states allow an individual to transfer assets to an irrevocable trust, remain a beneficiary of the trust, and the assets will be protected from his or her creditors.

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