Can creditors go after my money when I die and my trust is in the hands of my son who went bankrupt a few years ago? 4 Answers as of July 28, 2017

Can creditors take my money to pay off his past debt?

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Novakov & Associates, PLLC
Novakov & Associates, PLLC | LINDA S. NOVAKOV
If your son is appointed as Trustee and is acting in a fiduciary capacity, the money belongs to the Trust - not to him. First there would be no personal attachment to Trust funds. Second, if his debt was discharged, the creditors can't come back later to attach funds for the debts that were previously discharged.
Answer Applies to: Kentucky
Replied: 7/28/2017
GARCIA & GONZALES, P.C. | Richard N. Gonzales
There is not enough information to hazard a legal guess. I would suggest you pay an experienced lawyer for one hour of their time.
Answer Applies to: Colorado
Replied: 7/27/2017
A Fresh Start
A Fresh Start | Dorothy G Bunce
An attorney would need to review your Trust paperwork to say for sure. If it is a trust you prepared for yourself from one of those self-help books, there may be all kinds of negative repercussions.
Answer Applies to: Nevada
Replied: 7/27/2017
Bensamochan & Poghosyan LLP | Eric Bensamochan
The short answer is no. Debts that belong to your son remain his own to deal with. The exception would be if you were a co-signor or guarantor on some of the debt.
Answer Applies to: California
Replied: 7/27/2017
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