Asset Protection Lifetime Trusts
Instead of personally owning your assets, such as your house and your money, there are many advantages to transferring these into an Asset Protection Trust during your lifetime.
This type of trust can be useful for various reasons including bloodline planning, flexibility of inheritances, and reducing or eliminating costs in administering your estate so when you die your beneficiaries inherit more than they would have done under normal circumstances. It may also provide incidental protection against assets being used to fund long term residential care, but this cannot be guaranteed.
The trust also ensures your beneficiaries inherit immediately on your death rather than waiting for your estate to be administered, which can take many months and in some cases even years.