Resist the Temptation to Onshore Your Asset Protection Trust

Attorneys play an integral role in advising clients of and selecting the best options to meet their client’s needs. In order to provide the best advice to your clients, it is imperative to stay abreast of current events and legal trends. Due diligence can prevent attorneys from providing inadequate advice to clients which could constitute professional malpractice. Due to the current changes in the regulatory environment regarding offshore asset protection trusts and foreign assets in general, clients are now inquiring about taking advantage of domestic asset protection trust statutes. This Article addresses the changing regulatory environment and offers an opinion on the current events and features of offshore asset protection trusts that make it more desirable to maintain an offshore asset protection trust when a client’s primary objective is to have adequate asset protection from future creditors.