In Texas We Trust: The Need to Bring Domestic Asset Protection Trusts to Texas

Date

2019

Journal Title

Journal ISSN

Volume Title

Publisher

Estate Planning and Community Property Law Journal

Abstract

This comment will address the various issues and successes of domestic asset protection trusts. First, this comment will analyze the history of asset protection trusts to understand the origins and purposes of this unique form of trust. Next, this comment will explore different domestic asset protection trusts adopted by various states and the reasons why some states are more effective than others. Finally, this comment will discuss the need for Texas to join the trend of adopting asset protection trusts. In doing so, this comment will provide a set of criteria and a path for lawmakers to follow when Texas decides to adopt domestic asset protection trusts into law.

Description

Keywords

Domestic asset protection trust, DAPT, Asset protection trusts, Offshore accounts, Creditor protected beneficiary, Fraudulent conveyances, Foreign Account Tax Compliance Act, Oshins chart

Citation

12 Est. Plan. & Cmty. Prop. L. J. 163