PROTECTION OF ASSETS TRUST
\pɹətˈɛkʃən ɒv ˈasɛts tɹˈʌst], \pɹətˈɛkʃən ɒv ˈasɛts tɹˈʌst], \p_ɹ_ə_t_ˈɛ_k_ʃ_ə_n ɒ_v ˈa_s_ɛ_t_s t_ɹ_ˈʌ_s_t]\
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This is a trust that is set up in order to protect any assets from creditors and court orders. It can be set up locally thouigh they are often set up as offshore accounts. Offshore trust accounts are not under the jurisdiction of the local courts.
By Henry Campbell Black
Word of the day
dust storm
- a windstorm that lifts up clouds of dust or sand a windstorm that lifts up clouds dust or sand; "it was the kind of duster not experienced in years"