The right trust can help shield assets from creditors

Description

Abstract: More than ever, people are looking for ways to protect their assets — and with good reason. With the erratic stock market and weakened home values, threats such as a frivolous lawsuit or a forced bankruptcy filing could sink a business owner’s financial ship. Or, he or she may be more concerned about threats to assets being passed to children. All of these threats can be battled by placing assets in a trust — but not just any trust. Spendthrift trusts and offshore trusts may offer special protection — although there are some caveats.