No. The Trust may help prevent a lawsuit because it holds assets anonymously and may therefore make it harder for someone to sue, but the Estate Plan is different from an Asset Protection Plan.
You can add Asset Protection elements into your Estate Plan. This includes things like:
The Trust will help with privacy. People will not be able to see the people or assets inside the Trust.
A Will does not help with privacy. It is filed in Probate Court and becomes a public record.
In short, a Trust allows you to specify how things should be used, whereas a Will allows you to hand over total control.
For example, let’s say you give your brother $1,000 for your nieces college fund:
This is something we go through during the design process to help you decide which type of document to use in different situations.
Estate Planning includes several different types of documents and services.
Here’s what we provide as a baseline:
There are many other things that can be added, such as a Pet Trust, a Special Needs Trust, etc… These can be addressed during the design meeting.