Q:
If I declare bankruptcy, how will it affect my trust fund (or inheritance)?
– Wesley in West Allis

A:

Since 1982, multi award winning attorney Todd C. Esser has been leading the field, serving the community, and helping consumers just like you achieve success through trying financial times.

Since 1982, multi award winning attorney Todd C. Esser has been leading the field, serving the community, and helping consumers just like you achieve success through trying financial times.

Generally speaking, a trust is not considered property of a bankruptcy estate and will therefore not be affected by a bankruptcy filing. It will be necessary for your attorney to review the terms of the trust before filing the bankruptcy. As long as the trust contains what lawyers refer to as an anti-alienation provision (also commonly referred to as a spendthrift provision), the trust will not be reachable by the bankruptcy trustee.

Looking forward to your good financial health!

Do you have a question you’d like ESSER to answer?

Email us or fill out the short form below and we will add your question to the “Let’s Ask ESSER” section on our blog. It’s that easy! And schedule a free consultation today or go back to the home page

Let's Ask ESSER