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