How is an Asset Protection Trust formed?
Asset Protection Trusts are settled (created) by a Settlor (also known as the Grantor) under an arrangement by which a Trustee holds legal and equitable title to property made subject to the terms of the Trust. The property is to be held and managed by the Trustee for the sake of the Trusts Beneficiaries, or beneficial owner. Asset Protection Trusts are considered Irrevocable Trusts under United States law. These trusts are typically established outside of the U.S., usually in Offshore Financial Centers, sometimes referred to as tax havens.
