Tag Archives: creditor planning

Ohio Legacy Trust

Does an Ohio Domestic Asset Protection Trust Fit Into My Estate Planning?

Ohio Domestic Asset Protection Trusts can shield your assets from creditors, but only if your trust is drafted, implemented, and funded within a properly structured estate plan. An experienced estate planning attorney is a must when implementing this type of sophisticated trust to ensure that it functions appropriately within your overall estate plan.

The Ohio Asset Management Modernization Act (“AMMA”) was enacted into law and became effective in early 2013. Specifically, the AMMA enacted Ohio Revised Code §5816.01, et seq., also known as the “Ohio Legacy Trust Act”, which creates a unique opportunity for individuals to shelter assets from most creditors. Simply stated, the new law allows for the creation of an irrevocable trust that, if funded properly, can act as a barrier to future liabilities. Continue reading

Ohio Domestic Asset Protection Trust

What is an Ohio Domestic Asset Protection Trust (DAPT)?

An Ohio Domestic Asset Protection Trust can provide powerful protection of your assets from creditors, but only if the trust is drafted, implemented, and funded properly. An experienced estate planning attorney is a must when implementing this type of sophisticated trust.

The Ohio Asset Management Modernization Act (“AMMA”) was enacted into law and became effective in early 2013. Specifically, the AMMA enacted Ohio Revised Code §5816.01, et seq., also known as the “Ohio Legacy Trust Act”, which creates a unique opportunity for individuals to shelter assets from most creditors. Continue reading