Combine that with the fact that the legal systems of these havens provide little real protection for those defrauded (the con-artists would disappear with the money anyway), and a brew is created that would make any would-be trust settlor very nervous.

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Each trust would provide that if the settlor (creator of the trust) leaves a surviving spouse, the trust breaks into a marital trust and a credit shelter trust.

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Even though the Trust was domiciled in the Cook Islands, the Court applied Illinois law to penetrate the Cook Islands Trust as to a Illinois settlor and Illinois property.

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Smith is both the settlor and a beneficiary of the Trust.

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The point is that a creditor could get a similar injunction that keeps the settlor and beneficiaries of a DAPT from receiving assets from the trust.

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