Legal Question in Credit and Debt Law in Virginia

Wife stuck with ex-husband's debt

I had posted a question about this

previously

(/cgi/bbs/message.php?

i=456076130). My question now is

this: Can my wife avoid the

possibility of having her bank

account ''raided'' by the collection

agency (should her ex continue to

miss making his payments) by

creating a revocable living trust

account and moving her money into

it? My understanding is that such

trust accounts make sense for folks

who have a lot of assets, and they

also have a legal identity all their

own. Although my wife has very little

in the way of assets (not much more

than the $15,000 her ex owes), the

ability to shield those assets from a

collection-agency ''raid'' is something

she would dearly like to be able to

do.


Asked on 9/15/07, 3:15 pm

2 Answers from Attorneys

Michael Hendrickson Law Office Michael E. Hendrickson

Re: Wife stuck with ex-husband's debt

You haven't clarified why your wife would now be legally responsible for a debt of a former husband, unless she incurred such reponsibilty by signing jointly with him for something when she was married to him or somehow was adjudged to be liable for something only he signed for by virtue of her marital status at the time.

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Answered on 9/16/07, 11:25 am
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Wife stuck with ex-husband's debt

A judgment debtor will not be able to

keep her judgment creditor from seizing otherwise attachable assets by merely depositing them into a revocable trust.

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Answered on 9/16/07, 9:00 pm


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