Christopher Arakaky of Dunlap Bennett & Ludwig PLLC, has made available for download his article, “Asset Protection Trusts and Alternatives,” published in JDSupra. The abstract is as follows:
We live in an incredibly litigious nation. Every year, billions of dollars are spent on lawsuits across the country. Business owners, professionals, and high-profile individuals, among others, are constantly seeking ways to protect their assets should they ever experience legal problems. An asset protection trust, which is a type of irrevocable trust, may be a solid option for people whose line of work puts them at risk of legal liability. These types of trusts are not available everywhere. Virginia Code § 64.2-745.1 allows asset protection trusts to be formed if certain criteria are met.
Click here to view Christopher Arakaky’s summary of “Asset Protection Trusts and Alternatives”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal