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  2. Asset-protection trust - Wikipedia

    en.wikipedia.org/wiki/Asset-protection_trust

    In trust law, an asset-protection trust is any form of trust which provides for funds to be held on a discretionary basis. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are therefore frequently proscribed or limited in their effects by governments and ...

  3. Protecting Your Legacy: How an Inheritance Trust Keeps ... - AOL

    www.aol.com/keep-money-family-inheritance-trust...

    Protect your assets. Safeguard your assets by ensuring you have adequate insurance coverage and by implementing asset protection strategies. This can include liability insurance, family limited ...

  4. What Is an Asset Protection Trust? - AOL

    www.aol.com/asset-protection-trust-000010057.html

    An asset protection trust protects your assets from creditors and lawsuits. These are typically irrevocable trusts, meaning once they’re established, you’ll no longer have control of the ...

  5. How Can I Shield My Assets from Assisted Living Expenses? - AOL

    www.aol.com/revocable-trust-protect-assets...

    You can protect your assets by placing them in a Medicaid asset protection trust (MAPT), a type of irrevocable trust.You must transfer your assets to the trust at least five years before you enter ...

  6. Trust (law) - Wikipedia

    en.wikipedia.org/wiki/Trust_(law)

    Asset-protection trust: The concept of an asset-protection trust encompasses any form of trust that provides for funds to be held on a discretionary basis. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts may be proscribed or limited in their effect by ...

  7. Stepped-up basis - Wikipedia

    en.wikipedia.org/wiki/Stepped-up_basis

    A stepped-up basis can be higher than the before-death cost basis, which is the benefactor's purchase price for the asset, adjusted for improvements or losses. Because taxable capital-gain income is the selling price minus the basis, a high stepped-up basis can greatly reduce the beneficiary's taxable capital-gain income if the beneficiary ...

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