Delaware Asset Protection Trusts.

Earning money is half the battle. Keeping it is the other half of the battle. In the United States alone, over 24 million new lawsuits are initiated in our Courts every year. Every individual may face 3 different lawsuits on average in their lifetime. With these sobering statistics, one must seriously contemplate how to protect themselves and their assets from potential loss.

Insurance protects us, but only 70% of the time. Revocable family trusts protect us from probate and estate taxes, but not lawsuits. Corporations shield us from business suits, but not personal claims. How then do we gain the assurances and protection we so desperately need?

We use a centuries-old device with a modern twist. We use an irrevocable trust based upon the laws of a State long known for its anti-creditor stance. This device is known as a Delaware Asset Protection Trust.

With proper planning, one may preserve and protect bank accounts, investments, properties and assets from the claims of their own creditors. Not only may the current owner realize this protection, but they may extend the protection to their children and grandchildren. With divorce rates approaching 50%, one of the most likely losses of wealth for your children is to a claim by an ex-spouse in divorce. Whether it be for you or your family, the Delaware Asset Protection Trust provides the opportunity to protect your wealth.

Scott Waage

Tax Attorney