[WSBAPT] Domestic asset protection trusts: question and referral

[Candace Wilkerson]

Hi Listmates,

I just got off the phone with a potential client who thinks he wants a domestic asset protection trust (one that offers spendthrift protection to the trust creator as beneficiary).

He has real property in CA and WA.  I told him I wasn't sure, if he created a DAPT trust in one of the states that allows it, whether he would be able to protect real property located in CA and WA if he transferred it into the trust.  I said I thought it was unlikely since CA/WA courts would still have in rem jurisdiction over the property, and WA and CA don't sanction those trusts.  However, I'm not sure.

Does anyone know the answer to that question?  And is there anyone on the listserv who could help him create such a trust if it would provide the needed protection?

He told me he doesn't currently have any lawsuits pending or creditors coming after him.  He'd just like to prepare for the future.

Thanks,

Candace Wilkerson
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20200310/45a8dcc3/attachment.html>