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If you’re a Michigan physician, dentist, licensed healthcare professional, or just someone with many valuable assets and investments, you could lose them in a lawsuit judgment that’s not fully covered by your liability insurance. But thanks to a recent Michigan law, having a DAPT (Domestic Asset Protection Trust) in place provides you with the closest thing to a safety net from financial ruin. How so? Because it strongholds your assets and legally shields them from potential creditors. David Mammel, of Chapman Law Group’s Estate Planning and Administration practice group, explains here.
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___________ Key Moments ___________
0:00 - Intro
0:22 - What is a DAPT?
1:25 - DAPT is an Irrevocable Trust
2:12 - Power Over Managing Trustee
3:43 - Outro
❗ LEGAL DISCLAIMER ❗:
This is not legal advice advice. Everything described in this video is for informational purposes only and not for the purpose of providing anyone legal advice. You should contact our attorneys directly to obtain any and all legal advice with respect to your particular issue or problem. Nothing here should be construed to form an attorney-client relationship.
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Outro Song:
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