Video Series · All about Trusts
Will a Trust Protect My Assets?
Some trusts protect assets by separating ownership and control of the assets from the owner, and by including creditor protection provisions in the trust document.
Here are some ways trusts can protect assets:
- Asset Protection TrustsThese trusts can protect assets from creditors, lawsuits, and judgments against the estate. Some Asset Protection Trusts can also protect assets when Long Term Care is needed. They can also help deter costly litigation and influence settlement negotiations. However, they may not be right for everyone, especially if you want to be able to remove assets from the trust later.
- Special/Supplemental needs trustsThese trusts can provide for disabled individuals without disqualifying them from government benefits. A trustee manages the funds, not the beneficiary.