Asset Protection

I want peace of mind knowing my assets are protected and preserved.

Our approach to asset protection is proven to work. Our trusts have survived challenges in lawsuits, bankruptcies, IRS audits, and more. Our philosophy is to design a refined, yet effective asset protection strategy tailored to your situation. Our proven strategies include the following:  

Irrevocable Trusts

An irrevocable trust takes certain “chips” off the table and protects those assets from potential liability. These trusts are designed to be simple. Timing is important with these trusts. Assets must be transferred to the trust in advance of a creditor problem. Our top recommendations for asset protection trusts are:
This irrevocable trust is established and funded by one person who names someone else as the beneficiary. This provides the best protection and is supported by over 200 years of statutes and court cases nationwide and works in all 50 states.

Domestic Asset Protection Trust

This irrevocable trust is established and funded by someone who names themselves as an eligible beneficiary. This only works in a minority of states in the U.S. (including Utah). As this is a relatively new strategy, we recommend it only in certain circumstances.

Intentionally Defective Grantor Trust (IDGT or Dynasty Trust)

This irrevocable trust removes assets and all appreciation from your taxable estate. As a result, upon your death these assets will not be subject to estate taxes. Timing is important with this trust, as it works best for assets with high appreciation potential (e.g. stock in start-up companies). The IDGT has a flexible, sophisticated design.

Irrevocable Life Insurance Trust

This trust is used to hold a life insurance policy so the value of the policy and its death benefit are outside your taxable estate. This can provide liquidity to pay estate taxes, as applicable, or augment the size of the inheritance going to your designated beneficiaries.

NING (Nevada Incomplete-gift Non-grantor Trust)

This irrevocable trust is designed to be separate income tax payer, established in a state with no state income tax (such as Nevada). Income in the trust will be subject to federal income tax, but can avoid or defer state income tax. In the right circumstance, a NING Trust is a tool that can save an enormous amount of state income taxes.

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A free consultation about planning for your future. A free consultation about planning for your future.