Legal Question in Wills and Trusts in California

House trust

Hi...

I would like to know if putting my house in a trust will protect it from such unforeseen events such as serious illness not covered by health insurance, or lawsuits against my business (sole proprieter) not covered by my liability insurance. Just trying to cover all bases!

Thank you

Kim


Asked on 3/19/08, 3:18 pm

3 Answers from Attorneys

Jonas Grant Law Office of Jonas M. Grant, A.P.C.

Re: House trust

By "trust", you probably mean a revocable living trust. If so, then such trusts do not provide any asset protection. An irrevocable trust may provide such protection, if properly drafted and appropriate for your situation.

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Answered on 3/22/08, 10:24 pm
Mitchell Roth MW Roth, Professional Law Corporation

Re: House trust

Not a Living Trust.

I recommend you get a free download of my Special Report, "The 7 Most Common Mistakes Made by the Middle Class in Planning For the Inevitability of Death and the Likelihood of Disability, and How to Avoid Them." You can get it at my site, www.IWant2CreateMyLegacy.com. You should probably also get my book, Create Your Legacy & Save the American Middle Class. It contains the information that I developed for lay audiences in hundreds of seminars to thousands of people. It will answer nearly all of your questions about how to protect a family from the financial catastrophe that can often accompany the inevitabilty of death and the likelihood of disability. And answer a lot of important questions you never thought to ask. Both are terribly important. A lot of people don't realize that conservatorship is the fastest growing lawsuit in America and the average conservatorship lasts 3 years today. That is because medicine has gotten better and better at keeping us "alive" ofen under the worst circumstances.

The book contains a copy of the "LEGACY LIVING TRUST PACKAGE". It is, as far as I know, the only complete living trust planning package written in what I call "people ease" rather than legalese. Anyone reading at a 10th grade level should be able complete the package themselves with the information in the book. It is designed to be valid in all 50 states and even contains forms for making amendments when the desire to do so appears.

The book is $29.95, the best investment you'll ever make. About the cost of a six minute consultation with me personally. One can download the trust package for $79.95. For more info or to buy the book, go to www.IWant2CreateMyLegacy.com.

You may want to log in on my blog on that website or on www.MWRoth.com, and create an RSS Feed on your E-mail system since I will be beginning shortly a 3 month regular post on the topic of asset protection for the middle class.

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Answered on 3/19/08, 3:30 pm
Phillip Lemmons, Esq. Phillip Lemmons APC, Attorneys at Law

Re: House trust

it might be possible so long as the trust is irrevocable.

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Answered on 3/19/08, 10:20 pm


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