Definitions for "Asset Protection Trust"
A trust established offshore to protect settlors' assets against those who may attempt to make claims against them - creditors, former spouses and dependants on death.
An irrevocable trust, that is usually settled offshore. Its principal purpose is to preserve and protect the beneficiary's wealth offshore against claimants such as creditors. Title to an asset is transferred to a person or corporation, who is named the trustee or trust company. This kind of trust is usually tax neutral.
an irrevocable, self-settled spendthrift
Keywords:  probate, excellent, going, pass, way
an excellent way to pass on your property with going through probate
Keywords:  legal, united
a legal, United States