Nevada Asset Protection Trust Case Study

Meet Cameron

  • Cameron is happily married and a physician with four children.
  • Cameron’s profession makes him a target for frivolous lawsuits and potential future creditors.
  • Cameron would like to protect a portion of his assets during his lifetime. He has malpractice insurance but would like additional insulation for his assets.

How can Cameron protect a portion of his assets but still have access to the assets (albeit sparingly) if needed?
  • Cameron’s attorney drafts a Nevada Asset Protection Trust where he is the grantor and the beneficiary of the trust.
  • Cameron contributes a portion of his assets to the Nevada Asset Protection Trust.
  • 2 years after the date of transfer, Cameron’s assets should be protected from his creditors, including divorcing spouses, and child support/alimony.
  • The trust should be a rainy-day fund and distributions should be limited.

Players in the NAPT strategy:
  • Cameron is the grantor. He can also retain investment discretion and determine the investments inside the trust.
  • IconTrust is typically the administrative and distribution trustee to handle the books and records and distributions from the trust.
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