The Mississippi “Qualified Disposition in Trust Act” takes effect today. Mississippi has now become one of about fifteen states that have a domestic asset protection trust statute.
Each of these state statutes is different. But they all offer (with certain exceptions) an opportunity for creditor protection – – as long as appropriate formalities are followed.
This latest DAPT statute provides another reminder that asset protection is becoming more and more “main stream.” There should be no hesitation in making use of applicable asset protection laws that specifically allow you to better protect your assets.