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Setting up a spendthrift trust DAPT ( Domestic Asset Protection Trust)

Juneau, AK |

Does the Alaska DAPT (Spendthrift Trust) allow the settlor who is a beneficiary to also serve as the trustee?

Is a trustee with a physical presence in the state where the trust is domiciled necessary?

Where do I find a trustee, do I even need one?

Do other states offer similar COPE ( Charging Order of Protection), but might have lower filing fee's, such as South Dakota Oklahoma, or Nevada, or Delaware?

Also, can I add money to the trust throughout my life either perosnally or through a feeder LLC?

I don't have a large amount of capital to set-up the trust with, or is this frowned upon as every time assets are added the trust becomes vulnerable to the courts in that it resets the fraudulent conveyance clock another 2 years?

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Attorney answers 1


DAPTs require that there be a Trustee other than the Settlor. The Trustee must be located in the jurisdiction in which the DAPT is established. Every state that has DAPT legislation has trust companies that will serve as trustees, and many lawyers will also do so.

I recommend that you consult with an asset protection attorney to ensure that you receive accurate and full information regarding your particular situation.