Legal Question in Real Estate Law in Texas
property and liability
if you place your property in a family trust can anyone else get the property such as a lawsuit or personal injury claim
Asked on 11/16/08, 3:54 pm
2 Answers from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: property and liability
It depends on the trust and how it is prepared. It also depends on dates and circumstances of events. You should consult an attorney.
Answered on 11/16/08, 3:58 pm
Re: property and liability
There's no sure fire 100% answer on this. It's similar to asking "if I wear a seatbelt, will I survive an accident?" Possibly, but not if you drive off a cliff, get hit by a large truck, etc. Family trusts, FLPs, etc., can be useful in asset protection plans, but it should be part of a comprehensive plan.
Answered on 11/16/08, 4:06 pm
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