Can I use an asset protection trust to protect my assets from lawsuit judgments?

Yes, you can use an asset protection trust (APT) to protect your assets from lawsuit judgments in the state of Washington. An APT is a trust established with the sole purpose of safeguarding assets from creditors and claimants. The trust is funded with assets that are placed beyond the reach of creditors, and it may include a combination of cash, securities, insurance policies, and real estate. An APT may be used to protect your assets from lawsuit judgments. This includes judgments that arise from civil court, bankruptcy proceedings, or any other judgments that could potentially affect your assets. The APT act as a buffer between you and your creditors, providing a layer of protection for your assets. However, there are some restrictions and limitations when it comes to using an APT. It is important to note that an APT will not shield you from criminal proceedings or from paying taxes. Furthermore, an APT has a limited lifespan and it must be monitored and maintained on an ongoing basis. It is also important to note that the laws surrounding APTs can vary from state to state. It is essential to work with an experienced asset protection attorney to ensure that you are taking the proper steps to protect your assets. Depending on your specific situation, an APT may be the best option to protect your assets from lawsuit judgments and other creditors.

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Can I use an asset protection trust to protect my assets from lawsuit judgments?

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