Legal Question in Wills and Trusts in New York
Does a Trust Fund protect your money in that fund from creditors and if so, to what degree?
Asked on 12/02/12, 6:24 am
3 Answers from Attorneys
Roman Aminov
Law Offices of Roman Aminov
Maybe yes, maybe no. That answer really depends on the terms of the trust,the state in which it was established, who the grantor/trustee/beneficiaries are, and for what purpose it was set up. I would have an attorney review the trust to answer that important question.
Answered on 12/02/12, 7:24 am
David Slater
David P. Slater, Esq.
Not if is to merely avoid creditors.
Answered on 12/02/12, 8:50 am
Walter LeVine
Walter D. LeVine, Esq.
Possibly, if the trust is irrevocable, was not created solely to avoid creditors claims, and the debtor has no interest as a beneficiary.
Answered on 12/02/12, 9:20 am
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