Tag: creditor protection trust

The What and How of Ohio Legacy Trusts, a Creditor Protection Trust in Ohio

The Ohio Legacy Trust is an estate planning instrument (also known as a Domestic Asset Protection Trust), created by Ohio law effective March 2013, that allows a person to protect assets from future creditors.

What is an Ohio Legacy Trust?

An Ohio Legacy Trust (OLT) is a tool used to protect assets from future creditors. Anyone (adult, business, corporation, out of state resident or out of state business) can create an OLT, by funding the trust with his or her own assets. An OLT does not replace your will, power of attorneys, living wills, or revocable trusts. Further, you must ensure that you coordinate… Read the rest