In today’s society litigation is often used a means for the accumulation of wealth — not only for greedy plaintiffs, but for their unscrupulous lawyers as well. The proliferation of all types of liability claims and new theories of liability, coupled with ever-increasing insurance premiums and defense costs have stunned the business and professional community in the United States.
A group trust is a trust settled (created) by four or more individuals (for this purpose, a married couple counts as one individual). This technique was developed by Donlevy-Rosen & Rosen, P.A. in 2004 in response to a common problem faced by clients: often a client expressed concern not only about his/her own financial well-being, but also about others participating with the client in a business venture or other common pursuit.
An entity trust is a trust settled (created) by an entity, such as a corporation, limited liability company, trust, or partnership. An entity trust might also be settled by an appropriate group of entities, such as a related or commonly owned group of corporations, limited liability companies, trusts, or partnerships.