Tuesday, July 15, 2014
As of July 1, 2014, there are now 16 states that allow qualified disposition trusts (QDITs). QDITs are also know as domestic asset protection trusts and are irrevocable trusts that offer creditor protection. Mississippi recently passed legislation allowing the creation of QDITs for trusts with a Mississippi resident, bank, or trust company trustee.
See Leonard C. “Len” Martin, Spotlight on Mississippi: Domestic Asset Protection Trust Legislation, Baker Donelson, July 9, 2014.