The first bankruptcy case involving an Alaska asset protection trust (APT), In re Mortensen,1 has been decided. This case (we'll refer to it as Mortensen II, as it was the second of three related rulings) revolved around the February 2005 settlement of an Alaska APT by Thomas Mortensen and his transfer of a Seldovia, Alaska real estate parcel into the APT at the time of settlement. Thomas thereafter filed bankruptcy in August 2009, and the bankruptcy trustee sued to set aside the ...

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