What is a domestic self-settled trust?

A domestic self-settled trust is a type of trust set up by the person who owns the assets it contains (the settlor). It is also sometimes known as a “living trust.” This type of trust is set up within the state of Oregon and allows the settlor to protect their assets from creditors without having to give up ownership. The trust is set up to benefit the settlor and any beneficiaries they designate, but the trust itself holds the assets that are inside it. The trust also has provisions to protect those assets from creditors and other legal claims. This means that if the settlor were to find themselves in a legal dispute, they could not be forced to liquidate their assets to satisfy any claims against them. The trust also allows the settlor to have greater control over how their assets are managed, distributed, and taxed. It also allows for greater asset protection than a will or other forms of asset protection. In Oregon, the domestic self-settled trust is considered a legal entity and can hold and own assets separate from the settlor’s estate. This allows the settlor to protect their assets while maintaining ownership of them. It also provides asset protection from creditors and other legal claims, making it a useful asset protection tool for those who live in Oregon.

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What is a domestic self-settled trust?

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