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ARTICLE · 26 FEBRUARY 2020

Asset Protection Trusts Now Available In Connecticut

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Connecticut is the 19th state to permit self-settled asset protection trusts, allowing individuals to transfer assets to an irrevocable trust on or after January 1, 2020

United KingdomWealth Management
Marissa Dungey
Marissa Dungey
James Dougherty
James Dougherty
David Lehn
David Lehn
Mark Holden
Mark Holden
Edward Renn
Edward Renn
David L. Reynolds
David L. Reynolds
Alistair Christopher
Alistair Christopher
Karen Yates
Karen Yates
Constance Shields
Constance Shields
+3 more
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Connecticut is the 19th state to permit self-settled asset protection trusts, allowing individuals to transfer assets to an irrevocable trust on or after January 1, 2020, and remain a permissive beneficiary while removing the assets from the reach of most of the individual’s creditors.
In addition to being a beneficiary eligible to receive distributions in a qualified trustee’s discretion (or in some cases, a mandatory right to receive distributions), the individual who funds the trust (the “grantor”) can retain substantial rights with respect to the trust, including:

  • the power to veto distributions,
  • the power to appoint the property at death to individuals and organizations other than the grantor’s estate or creditors, and

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