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Domestic Asset Protection Trusts (DAPT)

Your assets can be at risk due to a number of vulnerabilities, including:

  • Professional malpractice liability
  • Personal liability of corporate officers and directors
  • Lawsuits by former business partners
  • Personal injury suffered on your home or business premises
  • Personal injury resulting from a motor vehicle accident
  • Liability as guarantor for the debts of another
  • Liability arising from misconduct

Alaska is recognized as having one of the most favorable domestic asset protection trust statutes in the country.  These laws allow you to transfer you assets to an irrevocable trust and have the assets protected from claims by future creditors.  Such trusts are known as Domestic Asset Protection Trusts or DAPTs.  DAPTs are very specialized and should only be utilized and implemented after careful consideration with the help of a qualified estate planning attorney.   We are lawyers who understand asset protection trusts and can help you decide if such a trust is appropriate for you situation.

 

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Foley, Foley & Pearson, P.C. is a full service Estate Planning law firm. We offer our clients services in Probate Administration, Estate Taxes, Wills, Trusts, Disability and Incapacity Planning, Estate Administration, Corporate and Business Law, Business Succession Planning, and Planned Giving and Charitable Bequests.