Alaska Court Just KO'd Domestic Asset Protection Trusts

If you have assets you want to protect from lawsuits, you might want to try something other than a DAPT in the wake of a recent court ruling. A foreign asset protection trust will be safer, instead.

(Image credit: Ireneusz Skorupa - Ericsphotography)

Over 15 million lawsuits are filed in the U.S. each year, so protecting your assets from a financially ruinous lawsuit has never been more important. But one common way of doing that — a domestic asset protection trust (DAPT) — just took a big hit in court.

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Jeffrey M. Verdon, Esq.
Lead Asset Protection and Integrated Estate Planning Partner, Falcon Rappaport & Berkman

Jeffrey M. Verdon, Esq. is the lead asset protection and tax partner at the national full-service law firm of Falcon Rappaport & Berkman. With more than 30 years of experience in designing and implementing integrated estate planning and asset protection structures, Mr. Verdon serves affluent families and successful business owners in solving their most complex and vexing estate tax, income tax, and asset protection goals and objectives. Over the past four years, he has contributed 25 articles to the Kiplinger Building Wealth online platform.