Unique Asset Protection and Opportunities

The issue of how best to protect the assets of U.S. citizens who were both Survivors of the Holocaust and who have received financial compensation for same is a complex one, leading to confusion and misunderstandings. Misleading information disseminated to the community has jeopardized the assets of this special, but aging and dwindling community. As attorneys with years of experience in the area of restitution law, it is our firm conviction that the best way for victims of Nazi persecution to protect their assets for themselves and their heirs is through the establishment of Victims of Nazi Persecution Restitution Trusts®.

Joint or separate bank accounts, and irrevocable trusts are often suggested as an alternate means of protection. Such suggestions, however, are risky, for while these options offer some protection, none offer as full a range of protection in as many areas as does the compensation trust.

As is clear from the asset protection planning chart on this website, separate or joint bank accounts offer minimal protection to restitution recipients. The benefit of a joint account (which has more than one name on the account) is also its greatest risk, since both the establishing owner and the co-owner(s) are able to withdraw funds at any time without consent or notification to the other, thus putting restitution funds at risk.

And while an irrevocable trust offers substantial asset protection, it fails to offer several of the most appealing and critical points offered by Victims of Nazi Persecution Restitution Trusts®. These include the Grantor's continuous control of his or her assets, including the ability to modify or even fully revoke the compensation trust which, by definition, an irrevocable trust precludes.

Based on years of experience with hundreds of clients, we strongly believe that the type of asset protection provided by Victims of Nazi Persecution Restitution Trusts® is more comprehensive, more flexible, and more secure than that offered by any other option.

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