#QuickBiteCompliance Day 17
Let’s dive deeper into Asset Protection Trusts (APTs), a unique form of irrevocable trust designed to safeguard wealth from creditors. These trusts involve transferring asset ownership to a trustee, typically established offshore to shield assets while remaining tax neutral. APTs focus on asset protection and prioritize providing for beneficiaries, enabling foreign trustees to bypass U.S. court orders by relocating the trust to another jurisdiction under legal threat.
#InclusiveRegtech #AssetProtectionTrusts #APTs
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
