Protecting trust assets when a beneficiary is also a trustee

Description

Abstract: From an asset protection standpoint, generally it’s best to appoint an independent, professional trustee. But in some cases it’s desirable to name the trust’s primary beneficiary as trustee. This article explains why, but then goes on to describe ways to maximize a trust’s creditor protection, in order to help protect assets from a beneficiary’s potential mismanagement of the trust.