Legal Question in Credit and Debt Law in California
If judgment is rendered against party (and he does NOT file bk) and he is the trustee and beneficiary of a trust that has not yet ripened, (but most likely will within a year or two) can a writ of attachment be issued to the trust so that when the trust does ripen, he will have to pay out?
1 Answer from Attorneys
Most likely the answer is that yes, when you are eligible to draw down from the trust as a beneficiary, the creditor can attach whatever interest you have in the trust. The only type of trust that might be protected from a creditor is a spendthrift trust which contains certain language regarding protection from creditors AND the debtor (the person who owes money) is not acting as Trustee and beneficiary.
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