Domestic asset protection trust planning in Wyoming dates back to 2007, when the state enacted legislation recognizing a form of trust labeled the “Qualified Spendthrift Trust.” A settlor may create a Qualified Spendthrift Trust with a trust instrument appointing a “qualified trustee” for “qualified trust property” if the trust agreement meets the following requirements:[1] The trust agreement stipulates that the …
Asset Protection Defined
“Asset protection” is a term used to describe legal planning that shields your assets from the unanticipated claims of creditors. Asset protection planning employs any number of techniques in isolation or in conjunction to achieve this objective. Embedded within this definition are a number of terms and principles that you should be aware of: Legal Planning: We are talking about …