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Protective trusts are an effective way to shield assets from creditors and also ensure that beneficiaries do not intentionally or unintentionally deplete trust assets. If you are considering setting up a trust to protect your assets or provide for your children or other parties, you should consult with an experienced protective trust attorney. Trust and asset protection law can be very complicated, and it is important to retain a lawyer who understands and practices in trust law.
How a Protective Trust Attorney Can Help
A protective trust attorney can assist you in the following ways:
- Draft a trust instrument that in compliance with the laws of your jurisdiction
- Advise you on the tax implications of the creation of a trust
- Help you identify assets should be placed in the trust
- Suggest ways to maximize asset protection
- Advise you on any other estate planning or asset protection issues you may have
Trust creation and asset protection issue can have very serious implications for you and your family for years to come. As a result, it is essential that anyone considering creating a trust consult with an experienced trust attorney.
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