Legal Question in Wills and Trusts in Nevada

Trust Funds

I am told that if I have a Trust Fund that they can still sue me thru the Trust Fund. My question is this. God forbid but say someone wanted to sue me and only me. If I had a family trust fund, can they still sued the trust fund or they can not? I think I need a trust fund but not sure of it.


Asked on 9/30/07, 11:06 am

1 Answer from Attorneys
James Smith James E. Smith Ltd.

Re: Trust Funds

The general rule is that anything which you have full access to in terms of money your creditors, including the IRS, have access to. A recovable living trust, for example, is subject to claims by creditors. However, a family limited partnership or an irrevocable trust are not subject to claims by creditors. Depending on if your trust fund is fully accessible to you and/or is revocable determines if the creditors have access in a lawsuit.

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Answered on 9/30/07, 12:14 pm


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