Summary

The new Delaware law accomplishes a worthy objective of allowing individuals to protect assets against rampant frivolous claims and the risk of loss from business hazards. With proper advance planning, a trust formed under the Delaware law will provide an excellent level of asset protection. The overall structure will likely include a Family Limited Partnership, an LLC and in some cases an offshore asset protection trust. The Delaware Trust is a powerful new weapon in the arsenal of attorneys specializing in asset protection law.