In certain places, like the Cook Islands, the creator of the trust can still have some control over it. The creator can change its terms, manage the property inside it, choose or remove the trustee and be a named beneficiary. If an asset transfer to the trust is found to be fraudulent, it doesn’t mean the entire trust is void — only the part that was transferred dishonestly can be used to pay back the creditor. It’s an irrevocable trust, which means you relinquish control over assets placed inside the trust to a third-party trustee, such as a bank, accountant or lawyer. Once established, it’s nearly impossible to alter the terms of the trust. In this article, we’ll explore the different kinds of asset protection trusts, how they work and what you should know before setting one up. If you go the social media route, however, you shouldn’t share any personal or financial information until you reach a more secure form of communication. The M2 numbers provide important insight into the direction, extremity, and efficacy of central bank policy. These offers do not represent all available deposit, investment, loan or credit products. As with any financial account, a money market […]