What is an Asset Protection Trust?
Definition of Asset Protection Trust
An Asset Protection Trust is an arrangement in which an independent person or financial institution (“the Trustee”) holds the property of your child or grandchild (“the Beneficiary”) for his or her benefit. The child or grandchild may also be one of the Trustees if he or she is an adult. The Trustees can distribute funds to the beneficiary as the Trustees deem necessary and advisable.
