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Posts tagged "Domestic Asset Protection Trust"

Using DAP Trusts in WV to Keep Heirlooms in Your Family

Grandmother's wedding ring holds deep sentimental value to the family. It also holds substantial financial value. This is an heirloom that you have been honored to have had passed down to you and one that you would like to keep in your family. A West Virginia DAP trust, or domestic asset protection trust, is a tool to help you do just that. DAP Trusts in WV can be used to protect valuable heirlooms such as jewelry, art, antiques, and other valuable property from financial distribution to creditors. The sentimental value of these items may far outweigh the financial value to you and your family. However, a creditor will only be interested in the financial value and may attempt to force a sale in order to garner funds owed to that creditor. Developing an estate planning asset protection strategy with an estate planning attorney in WV is the best way to proactively defend your family heirlooms from potential future creditors.
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