In the case of liability for extensive medical bills, would putting personal property in a Trust keep everything safe from garnishment?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
In the case of liability for extensive medical bills, would putting personal property in a Trust keep everything safe from garnishment?
We have 2 houses – 1 is a personal residence and 1 is a rental. Can both be put into a Trust to avoid them being attached in case of extensive medical bills?
Asked on December 14, 2011 under Estate Planning, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Depending upon when the medical bills were incurred and for whom placing one's assets into a trust could possibly prevent a judgment creditor from levying upon trust assets assuming the judgment debtor is not the trustee under the trust and the creation of the trust was not created to defraud creditors under the Uniform Fraudluent Conveyand and Transfer Act adopted by many states in this country.
I suggest that you consult with an experienced Wills and trust attorney about your question who is knowledgeable about judgment collections in the state that you reside in.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.