Many professional people and business owners are already aware of this, which is also known as a DAPT (Domestic Asset Protection Trust). Are you are in the line of work where you could be faced with hugely expensive and damaging lawsuits, or claims and creditors? If so, then a DAPT may be well worth thinking about.
It’s an irrevocable trust with the objective of keeping your assets away from such predatory actions by others. Although Colorado, and many other states, do not yet recognize them in statute, and they don’t yet automatically offer protection, simply holding one can mean that creditors may be more willing to settle than have their day in court.