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Washington & Lee Law School
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  ALI-ABA Estate Planning Course Materials Journal
  Volume 15, Number 2, April 2009
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  • Irrevocable Trusts Under Attack: The Domestic Relations Angle
        Daniel S. Rubin
        p.3                                                                                          +cite        
        At the risk of stating the obvious, the confluence of multiple marriages and multiple divorces, with hundreds of billions or trillions of dollars of property held in trust for the benefit of one or the other of the spouses breeds contention over the issue of when trust property should be available to meet the obligations of a beneficiary to pay alimony. This outline examines the issue of spendthrift (and other types of trust) protections against attacks by a spouse or former spouse for support.
  • Asset Protection Planning (With Audit Checklist)
        Gideon Rothschild
        p.25                                                                                        +cite        
        A litigious environment creates greater exposure to risk of loss. Traditional forms of protection against litigation are often ineffective. Hence the growth of domestic asset protection trusts. At the same time, there is burgeoning interest in foreign situs trusts. Similar to domestic trusts, these trusts can act as will substitutes or supplements to avoid probate and maintain confidentiality, and to handle the settlor's affairs in the event of disability or unavailability. They also provide procedural, substantive, and psychological barriers to creditors because many jurisdictions do not honor U.S. judgments, putting trust assets beyond the practical reach of most creditors.