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Domestic Self-Settled Trusts

Description

In recent years, many states have begun to allow self-settled spendthrift trusts.

These new trusts allow the settlor to obtain the benefits of offshore asset protection trusts without the complexity, cost, and byzantine application of foreign law. A settlor can shield assets from his or her creditors or tort claimants, remove those assets from his or her gross estate, and obtain other tax and non-tax benefits.Though more accessible than offshore trusts, domestic asset protection trusts still come with risk.

This program provides a practical guide to using self-settled spendthrift trusts and drafting their instruments.

  • What are domestic asset protection trusts?
  • When are they best used and what are the risks?
  • What states allow these trusts and subject to what limits?
  • How do domestic trusts and offshore trust compare?
  • What are the tax benefits and risks of thee trusts?

Contributors

  • Jonathan E. Gopman

    Jonathan E. Gopman is the managing partner of the Naples, Florida office of Akerman LLP, where his practice focuses on sophisticated wealth accumulation and preservation planning strategies for entrepreneurs.

    Jonathan is co-author of the revised version of the BNA Tax Management Portfolio "Estate Tax Payments and Liabilities." He is also a commentator on asset protection planning matters for Leimberg Information Services, Inc., a member of the legal advisory board of Commonwealth Trust Company in Wilmington, Delaware, and a member of the Society of Trust and Estate Practitioners.

    Jonathan received his B.A. from the University of South Florida, his J.D. from Florida State University College of Law, and his LL.M. from the University of Miami.

    Click here for more information about Jonathan.

September 12, 2022
Mon 1:00 PM EDT

Duration 1H 0M

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