Asset Protection Trusts
Until recently, physicians and other members of high-risk occupations have had few options in defending their accumulated wealth from frivolous litigation. The traditional solutions have involved buying expensive liability insurance, relinquishing control over property, or establishing Asset Protection Trusts in remote (and sometimes turbulent) overseas domiciles.
To remedy this situation, South Dakota and a handful of other states have enacted laws permitting Domestic Asset Protection Trusts (DAPT). These trusts allow a person to benefit from the wealth they created—and also protect that wealth from being subject to future claims.
Care must be taken when establishing and administering an Asset Protection Trust in order to avoid negating the trust's benefits. If such a trust makes sense for you, Bankers Trust of South Dakota can guide you through the process of establishing and administering it.
Note: Non-Deposit Investment Services are not insured by FDIC or any government agency and are not bank guaranteed. They are not deposits and may lose value.