A Video FAQ with Mary E. Vandenack.
There are a variety of things to consider before deciding to use a trust to protect your assets. Most states have certain laws allowing you to protect your home or a certain amount of your retirement account or IRA. You might be able to come up with asset protection before using a trust.
There are different types of trusts to consider using if you do get to the point where a trust makes sense. A trust that someone else creates for you is one of the best vehicles. There is also what we call a domestic asset protection trust where you create a trust for yourself in one of the states that allow for that type of trust. It’s a fairly complicated and expensive technique so you do want to be sure to exhaust all of your other alternatives before you choose that path.
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