Asset Protection Trusts
Our most favored form of Asset Protection Trust is the ‘Special Power of Appointment’ Trust or “SPA Trust.” The SPA Trust is ideal for Asset Protection, Estate Planning and Avoiding Probate. Here are some reasons we favor SPA Asset Protection Trusts over other types of structures:
- The SPA Trust effectively separates ownership and control, so you remain in control of your assets, but transfer ownership. Without ownership, nothing can be taken away.
- The SPA Trust will not appear on an asset search or public record search under your name.
- The SPA Trust is recognized in all 50 states and in Federal Bankruptcy Court (See 11 U.S.C. 541(b)).
- It Protects Assets in any location and of any kind.
- The SPA Trust is promoted by reputable law firms throughout the country.
- The terms of the SPA Trust, trustees, and beneficiaries can be changed anytime, offering extraordinary flexibility and freedom.
- It is easy to maintain and set up, adding assets is easy as well.
The foregoing are just a few of the reasons setting up an SPA Trust may be the right choice for your family. Taking your assets out of the reach of any potential creditors will give you peace of mind and added security for your family. Call our protection planning attorneys today to discuss your individual needs at (949) 544-2640.