2022 Domestic Self-Settled Trusts

Recording available after original program date, 9/12/2022

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 will provide you with 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?

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics, elimination of bias or Kansas credit.