Asset Protection Trusts for Cryptocurrencies and Digital Assets
Featured In: New York Law Journal | Written By: Asher Rubinstein | Partner Gallet Dreyer & Berkey, LLP
There is a burgeoning industry of professional trustees, banks and other custodians who are equipped for safekeeping and protection of digital assets.
Asset protection is the utilization of laws and legal entities (such as trusts, limited partnerships and limited liability companies) which safeguard assets from attack by future, unsecured creditors. Traditionally, asset protection attorneys protected their clients’ bank and brokerage accounts, real estate, business interests, art and other things of value. Lately, practitioners have also protected crypto assets, including digital coins, utility tokens and non-fungible tokens (NFTs) in domestic and offshore Asset Protection Trusts (APTs).