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Beverlyn Thompson

United Kingdom

Designer (Journalism)

Member since March 15, 2013

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    Since 1997, 13 states have enacted laws permitting self-settled trusts (often referred to as “asset protection trusts”). A self-settled trust is one wherein the settlor establishes a trust in which the settlor is a permissible beneficiary and trust assets are also protected from the creditors of the settlor. Not all jurisdictions are equal; therefore, when a client is contemplating creating a self settled asset protection trust, it is imperative to go to the jurisdiction with the most favorable laws. The following chart gives a state by state ranking of the various asset protection trust states:

    As reflected in the chart, Nevada offers several key advantages and therefore should always be the go to state for creating and forming a self settled trust. Specifically, Nevada (along with South Dakota) has the shortest statute of limitations period, which is two years. This means, assuming there are no pre-existing creditor issues, two years from the date assets are transferred into the trust they should be protected from the settlors creditors (assuming there are no fraudulent conveyance issues). Further, Nevada is the only jurisdiction that does not provide for exception creditors. All other jurisdictions provide for some type of exception creditors, such as divorcing spouses or preexisting torts. Essentially, this means that in other jurisdictions, even if you have made it past the statute of li...

  • Law office of Lance Denha: RANDALL A. DENHA

    Well-being, Communication Design


    Randall A. Denha, J.D., LL.M. is the founding member of Denha & Associates, PLLC. Mr. Denha, a former partner at one of the most prestigious estate planning firms in the country, specializes in the areas of estate and personal tax planning, business and succession planning, family wealth planning, asset protection planning and integrating all of the foregoing into a truly comprehensive plan. Mr. Denha counsels high net worth individuals and families on a daily basis and is frequently called upon by these same individuals and families to assist in developing business policies and structures that will succeed to the next generation.Mr. Denha attended Wayne State University and graduated with honors with a degree in Corporate Finance. After college, Mr. Denha then went to University of Detroit School of Law where he graduated with honors with his law degree. Feeling that he still needed more education, he then attended the University of Miami School of Law and completed his masters in law (LL.M.) in estate planning.

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