Legal Question in Bankruptcy in Florida
Trusts
Are trusts subject to bankrupty?
Asked on 10/20/08, 10:58 am
1 Answer from Attorneys
Brent Rose
The Orsini & Rose Law Firm
Re: Trusts
It depends on the kind of trust. As a general rule, no, trusts are exempt, but this is a complicated area of the law, so you should sit down with a bankruptcy lawyer and explain your entire situation. You couldn't, for example, just put all your property into a trust, then file bankruptcy and keep everything. It's not that easy.
Answered on 10/20/08, 11:48 am
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