More and more people who are interested in estate planning are learning about domestic asset protection trusts (DAPTs), which offer an important advantage regarding estate taxes and income. DAPTs allow you to appoint yourself as a beneficiary of the trusts. DAPTs are not a wise estate planning tool for everyone, however. Instead, DAPTs work best… [Continue Reading]
Using a Domestic Asset Protection Trust
Asset protection in the context of marriage is usually done through the use of a prenuptial and sometimes postnuptial agreement. However, this is not the only way to protect a person’s assets from being divided in a divorce. People with significant personal wealth who do not wish to use a traditional prenuptial agreement can use… [Continue Reading]
Protecting Your Wealth With A Domestic Asset Protection Trust
Beginning next month, Michigan will recognize the legality of Qualified Asset Protection Trusts, also known as Domestic Asset Protection Trust — or DAPT. This type of asset protection instrument is potentially a great way for an individual to protect their assets from the reach of creditors. Signed into law at the end of the last… [Continue Reading]
