Legal Question in Bankruptcy in Florida

Bankruptcy. If you have property in a trust can they use that against you if you file bankruptcy?


Asked on 2/19/10, 7:17 am

2 Answers from Attorneys

William Gwaltney William W. Gwaltney, Attorneys at Law

depends on the type of trust, where the trust was formed, the funding of it, the type of "property" you are referring to, and who funded it.

So the answer is maybe.

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Answered on 2/24/10, 7:24 am
Leon Ferraez Ferraez, LLC

Yes, particularly if it is a revocable trust where the individual filing the bankruptcy is the Trustee. There are some trusts that may avoid the bankruptcy, but only in very limited circumstance.

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Answered on 2/24/10, 7:24 am


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