An asset-protection trust is a term which covers a wide spectrum of legal structures. Any form of trust which provides for funds to be held on a discretionary basis falls within the category. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are therefore frequently proscribed or limited in their effects by governments and the courts.
Read more about Asset-protection Trust: History of Trusts, Overview, Domestic Asset Protection Trust, Offshore Jurisdictions, Challenges, Taxation
Famous quotes containing the word trust:
“A noble person confers no such gift as his whole confidence: none so exalts the giver and the receiver; it produces the truest gratitude. Perhaps it is only essential to friendship that some vital trust should have been reposed by the one in the other. I feel addressed and probed even to the remotest parts of my being when one nobly shows, even in trivial things, an implicit faith in me.... A threat or a curse may be forgotten, but this mild trust translates me.”
—Henry David Thoreau (1817–1862)