Legal Question in Bankruptcy in Nevada

I am filing chapter 7, can the banks go after my parents living trust?


Asked on 2/04/12, 10:13 am

2 Answers from Attorneys

Charles Andersen Charles Andersen, Atty

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Answered on 2/04/12, 10:46 am

What banks? If the living trust belongs to your parents, your Chapter 7 Trustee cannot claim it. But if you are entitled to receive benefits from the Trust without condition, the Chapter 7 Trustee might be able to come after this source of income. Really, the exact terms of the trust will control, so you will need your bankruptcy attorney to review the trust before you "jump off a cliff" & file Chapter 7.

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Answered on 2/06/12, 12:29 pm


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