Legal Question in Wills and Trusts in New York

If I put my adult children's names on my bank accounts, investments, house etc.and one of them is sued, can they come after my assets?


Asked on 3/03/10, 5:29 am

1 Answer from Attorneys

Arnold Nager Arnold H. Nager, Esquire

If they are in joint ownership with you, any judgement creditor would file a lien but would not be able to execute the lien against the property until your death.

There are better methods of securing your assets against Medicaid liens or judgement creditors.

In examining this response, please note that we are not entering into an attorney/client relationship, that this is to be taken as informative, and not as legal advice, that it is always best to speak to a lawyer in your area and/or in the area where the transaction and/or events occurred, and that my answer is necessarily limited by the fact that I have not seen the documentation or had an opportunity to go over the matters with you in detail.

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Answered on 3/08/10, 1:00 pm


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