What Is An Asset Protection Trust
An Asset Protection Trust is a trust that which you can transfer your property to, you remain the beneficial owner of that property, but if you get sued, that property remains safe from lawsuits and lawsuit judgements.
Think of an Asset Protection Trust like giving a property to a close friend. You can still live in your friend’s house, and ride on your friend’s boat. But if someone sues you, they will not be able to take your friend’s house or boat. There are only certain jurisdictions which allow for the use of an Asset Protection Trust and selecting the right jurisdiction is key to the success of your Asset Protection plan.
Please take a moment to watch the video entitled “What is the Bridge Trust” for a discussion on jurisdiction selection.