asset protection trust (APT)
Definition
Trust established in an offshore haven which has enacted laws to protect legitimately earned (clean) money deposited there. The principal purpose of an APT is to safeguard an asset from claims against it in the home country of the depositor. It is a special form of irrevocable trust in which the title to the asset (deposit) is transferred to a trustee who manages the asset on behalf of named beneficiaries. Also called family protective trust in UK.
asset protection trust (APT) is in the Accounting & Auditing, Banking, Commerce & Finance, Disaster Planning & Risk Management and Investing subjects.
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