Gideon Rothschild, asset-protection expert and member of the New York law firm Moses & Singer, reports that Utah has just joined the growing number of states providing self-settled trusts for asset protection.
Until recently, high-net-worth individuals had to go offshore for such trusts. In 1996, Alaska became the first state to enact legislation intended to offer the same benefits onshore. Delaware, Nevada and Rhode Island quickly followed. On March 22, Utah became the latest sta