What is the best jurisdiction for an asset protection trust?

The best jurisdiction for an asset protection trust depends on a few key factors. In Washington, two common asset protection jurisdictions are Nevada and Delaware. Nevada has some of the most protective asset protection laws in the United States. Nevada has a four-year “look-back” period, which means creditors can go back four years to sue for debt collection. This look-back period is longer than other states, protecting the trust from creditors further in the past. Nevada also allows a trustee to amend and revoke the trust, allowing for greater flexibility in responding to changing circumstances. Delaware also has strong asset protection laws, with a two-year look-back period. Delaware is a popular jurisdiction for asset protection as it is widely respected worldwide, making it difficult for creditors to have their judgments enforced in other countries. Delaware also allows for asset protection from tort creditors, such as those that may sue for personal injury. The best jurisdiction for an asset protection trust depends on a range of factors, including the trust’s size, assets, and structure, in addition to the potential creditors. It is important to speak to an asset protection lawyer to ensure you are in the best jurisdiction in Washington for your specific needs.

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