In addition to the “routine” asset protection attributes of IRAs, qualified plans, life insurance and annuities, and husband & wife ownership, the laws of certain U.S. jurisdictions (currently 17 states, including Delaware, Nevada, South Dakota, Wyoming, and Alaska) allow the formation of self-settled asset protection trusts (otherwise known as Domestic Asset Protection Trusts “DAPT”) that may afford a high level of lifetime asset protection. Many of these jurisdictions also provide for charging order protection of LLC interests, a superior approach in asset protection planning. While no DAPT or LLC structure will completely protect against the claims of creditors, clients owe it to themselves to become familiar with the asset protection choices available to them across the country as states continue to compete for asset protection business.
- Elville and Associates Partners with Maryland ABLE to Offer Special Needs Planning Workshop to Harbour School at Annapolis Parents
- Lindsay V.R. Moss, Esq., Becomes Partner at Elville and Associates, P.C.
- A Guide for Making Room for Grief in Work & Life
- How One Thing Might Lead to Another
- How Will My Agent Know Where My Property Is – and How to Access It? The Maryland Fiduciary Access to Digital Assets Act, Digital Storage Options, Safe Deposit Boxes, and Good Old Fashioned Record-Keeping
- The Movement to Improve End-of-Life Health Care Planning
- Fly, Rattle, and Roll
- Senior Home Seller? Here’s the Solution! (Part 2 of 2)
- Aging in Place Doesn’t Just Happen, It Takes a Plan
- Client Care Program Update – the April Tax Reform Educational Event, the Summer Social Event at Toby’s Dinner Theatre, and Looking Forward to the Annual Client Event