Seventeen states now recognize asset protection trusts. Steve Oshins, who prepares an annual ranking of these statutes, ranks Tennessee’s statute as the third best in the country. Dave Shaftel has done a very thorough comparison of the various statutes, including a Comparison Map of the various states that allow asset protection trusts.
As time has gone by, we have found several ways in which these trusts can help our clients and are now establishing several of these trusts every month. I don’t know whether all 50 states will eventually authorize these trusts, but I predict that many more will soon adopt them.