Boston Attorneys Handling Financial Matters

Using Delaware Trusts to protect the assets of people in Massachusetts

In an instant, everything can change. As a small business owner, a bad business deal might leave you personally exposed to millions of dollars in liability. As a doctor, a single medical malpractice lawsuit could destroy your practice and your personal finances.

To protect yourself from such uncertainties, come to the law firm of Cushing & Dolan, P.C. in Boston, Massachusetts. For more than 20 years, our lawyers have been handling complex legal and financial matters affecting people throughout Massachusetts. Contact us today to discuss your options for asset protection.

The benefits of Delaware trusts. Historically, many people seeking to protect their assets from creditors have relied upon offshore trusts. When properly constructed, offshore trusts can put your assets out of the reach of domestic creditors - but these are often quite expensive to create and maintain.

The state of Delaware recognizes the need for asset protection, and has created unique trust laws to address these needs. A Delaware asset protection trust allows you to transfer funds into a trust and retain a beneficial interest in the trust property, without leaving these assets exposed to creditors. Delaware trusts offer more flexibility and protection than trusts created in Massachusetts.

Eligibility for Delaware trust asset protection. Delaware trusts are not an effective means of asset protection for everyone. For example, assets transferred into a Delaware trust are still available to fulfill child support and alimony obligations. Additionally, these trusts do not shield assets from some liability incurred before the transfer of these assets to the trust.

To determine whether a Delaware trust will effectively meet your asset protection goals, come to Cushing & Dolan, P.C. Contact our attorneys today to schedule a confidential consultation.