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
Nevada Lawyers We are building a comprehensive list section of lawyers. Many of these will give you a free initial consultation.
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.
Answered on 2/06/12, 12:29 pm
Related Questions & Answers
-
I am 2 years into a chapter 13 bankruptcy. I am about to lose my job because my... Asked 1/22/12, 8:44 am in United States Nevada Bankruptcy Law
-
Can you back out of a chapter 7 or 13 after its bean filed Asked 1/01/12, 8:59 pm in United States Nevada Bankruptcy Law
-
I won alot then lost all my winnings. Need to file BK Chapter 7. How long do I have... Asked 10/25/11, 5:55 pm in United States Nevada Bankruptcy Law