What documents do I need to establish an asset protection trust?

Establishing an asset protection trust in New York requires certain documents. These include a trust agreement, which outlines the purpose of the trust and the terms of the trust. The agreement should include the name and address of the trustee and the beneficiaries, as well as the assets and liabilities that are subject to the trust. Additionally, an application for the trust tax identification number should be completed and submitted to the Internal Revenue Service (IRS). Also, a deed of trust should be drawn up to transfer the legal title of the assets to the trust. Finally, a last will and testament should be prepared to provide for the disposition of the trust assets after the death of the settlor. All of these documents must be formally executed by the settlor and any other parties involved and should be witnessed and notarized. It is also important to keep these documents in a secure location, such as a safe deposit box or other secure storage.

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