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Full-Text Articles in Taxation-State and Local
In States We "Trust": Self-Settled Trusts, Public Policy, And Interstate Federalism, Brendan Duffy
In States We "Trust": Self-Settled Trusts, Public Policy, And Interstate Federalism, Brendan Duffy
Northwestern University Law Review
Over the last twenty years, domestic asset protection trusts have risen in popularity as a means of estate planning and asset protection. A domestic asset protection trust is an irrevocable trust formed under state law which enables an independent trustee to allocate money to a class of
persons, which includes the settlor.
Since Alaska first enacted domestic asset protection legislation in 1997, fifteen states have followed its lead. The case law over the last twenty years addressing these trust mechanisms has, however, been surprisingly sparse. A Washington bankruptcy court decision, In re Huber, altered this drought, but caused more confusion …