Original Program: 39th Annual Estate Planning & Fiduciary Law Program, July 26-28, 2018
2017 marked the twentieth anniversary of the Alaska and Delaware legislation permitting the creation in those states of self-settled asset protection trusts, thus changing centuries of law that until then had prevented individuals from creating trusts for their own benefit that would be safe from the claims of creditors. In the ensuing twenty plus years, many other states have passed similar legislation.
At the same time, a number of states have passed other legislation protecting certain classes and types of assets from creditor claims while others have passed a version of the new Uniform Voidable Transactions Act (“UVTA”) that may complicate the usefulness of self-settled asset protection trusts.
This session discusses the original impetus behind the 1997 legislation, the asset protection revolution that those acts helped start and the current status of asset protection planning in North Carolina and elsewhere.
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