Legal Question in Civil Litigation in California
Living trust assets
Can assets in a living trust be attached by a civil courts decision ?
Scenerio: Auto liablity coverage carried $ 250,000.00
each person $ 500,000.00 each accident. In the event of a civil suit for damages, physical and or property due to an auto accident, and a judgement is awarded for amounts above ones auto liability coverage, are the assets in ones living trust protected or can they be attached by the court to satisfy the judgement ?
2 Answers from Attorneys
Re: Living trust assets
The general answer is yes, but it takes more ingenuity and digging by the judgment creditor to get to the trust. A living trust is the general term used for a revocable inter vivos trust. The assets of such a trust may be recalled into the ownership of the individual trustor [you] at any time.
This is a very technical area of the law. If such a judgment has occurred, you need to consult with an attorney fairly soon to protect yourself and your assets as much as the law permits.
NOTE: Please understand that the information provided in this reply is for informational purposes only and does not create an attorney-client relationship. It also may not be complete, and is designed for general information to parties under California law. Before you make any decision that might possibly have legal implications, you should consult with our office, or another qualified professional, so that thorough legal advice can be provided in a manner that relates to your specific circumstances. Thank you.
Reply Posted By:
Wayne V.R. Smith
Attorney at Law
P.O. Box 3219
Martinez CA 94553
Re: Living trust assets
Thanks for your posting. The answer given by Mr. Smith is sound, and you should keep in mind that it depends on whether or not the trust is revocable or irrevocable. Revocable trusts can be attached, and irrevocable trusts cannot.