News & Analysis as of

Asset Protection Domestic Asset Protection Trust (DAPT)

Davidoff Hutcher & Citron LLP

Comprehensive Asset Protection Strategies for New York Restaurant Owners: Shielding Against Wage and Hour Liability and Beyond

As a restaurant owner in New York, you face complex financial and legal challenges that go beyond typical business risks. Along with operational responsibilities, you are personally exposed to employment-related claims,...more

Charles E. Rounds, Jr. - Suffolk University...

Creating a nonvoidable domestic asset protection trust (DAPT) that has multijurisdictional contacts: The state and federal...

Creating a domestic asset protection trust (DAPT) that both has multijurisdictional contacts and is nonvoidable in whole or in part is easier said than done. There are the state conflict-of-laws issues, a few of which I...more

DarrowEverett LLP

Data Privacy Concerns With the CTA? Consider the Value of DAPTs

DarrowEverett LLP on

People are understandably nervous about sharing personal data no matter the circumstances. That can be especially true regarding estate planning, given the existence of the recently enacted Corporate Transparency Act (“CTA”)....more

Freeman Law

Asset Protection Trusts for Cryptocurrency and Digital Assets

Freeman Law on

With more investors diversifying their investment portfolios, cryptocurrencies and other kinds of digital assets (i.e., non-fungible tokens “NFTs”) have become a more popular option in recent years. With the Internal Revenue...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner - March/April 2020

Creating an education legacy - For many people, an important goal of estate planning is to leave a legacy for their children, grandchildren and future generations. And what better way to do that than to help provide for...more

Harris Beach Murtha PLLC

Asset Protection Trusts: “Everybody Gets a DAPT!” (even those outside Connecticut)

In a previous newsletter, we recently heralded the passage of the “Connecticut Qualified Dispositions in Trust Act”, which permits the creation and establishment of self-settled domestic asset protection trusts (“DAPTs”). To...more

Harris Beach Murtha PLLC

Asset Protection Trusts: Connecticut Makes History by Enacting a Domestic Asset Protection Trust Law

At the tail end of the legislative session, the Connecticut General Assembly enacted historic and sweeping trust legislation including the Uniform Trust Code and Directed Trust Act, and extended the rule against perpetuities...more

McGuireWoods LLP

Georgia Governor Vetoes Domestic Asset Protection Trust Legislation

McGuireWoods LLP on

In late March, the Georgia House of Representatives (by a vote of 103-56) and the Georgia Senate (by a vote of 43-6) passed HB 441, which would have made Georgia the 18th state to permit self-settled domestic asset protection...more

Clark Hill PLC

2017 Creditor Protection Update: Protecting Your Assets with a "DAPT"

Clark Hill PLC on

On December 5, 2016, Michigan joined Alaska, Delaware, Nevada, Utah and South Dakota as one of the 17 states that permit the use of irrevocable self-settled asset protection trusts for purposes of creditor protection...more

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