Asset protection trust (APT) - Financial definition
Financial acronyms
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Countries
: United Kingdom, United States of America
Concise definition of the term asset protection trust
An asset protection trust is a vehicle for protecting an individual’s assets against creditors and pass them to the chosen beneficiary or beneficiaries. Ownership in the assets passes from the initial owner to the trust, which holds them on a discretionary basis.
Comprehensive definition of the term asset protection trust
Assets can be anything of value, such as properties, cash, cars, boats or artwork.