There are many good reasons to transfer assets into an asset protection trust, such as protection from creditors, from ex-wives/husbands, and from personal-injury lawyers.  My only observation until now has been there are more crooks selling asset protection trusts than anywhere in the arena of personal financial planning.  For those clients who need asset protection, I insist on helping to pick the trustee, because you lose everything if that trustee is a crook.

Now, I’ve received some marketing materials from an asset protection trustee whom I believe to be legitimate.  What bothers me is that he is arguing clients should put their money into asset protection trusts to protect that money from pollution claims arising from fracking.

It just seems like some things are so awful that you cannot hide from them.  If I kill a person, should my assets be protected from the claims of the decedent’s family?  If I pollute the Chesapeake Bay, should my assets be protected.

I have avoided asset protection trusts as much as possible, because there are so many crooks. Now, there is another reason.  We don’t allow people to hide from their college loans by filing bankruptcy.  Why do we allow major-league polluters to hide from their environmental liabilities by using asset protection trusts?  I find that morally repugnant!

Wonder if the crooks selling asset protection trusts also find that morally repugnant?