Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Other Law (https://www.askmehelpdesk.com/forumdisplay.php?f=190)
-   -   Are funds held in a Trust protected from a levy? (https://www.askmehelpdesk.com/showthread.php?t=232368)

  • Jun 30, 2008, 10:23 AM
    cskallus1
    Are funds held in a Trust protected from a levy?
    If your assets are held in a trust account in the bank, can that account be levied due to a judgement? Or does the Trust protect you like a corporate account does?
  • Jun 30, 2008, 11:10 AM
    JudyKayTee
    Quote:

    Originally Posted by cskallus1
    If you have a judgement against you and your funds are held in a trust , can the trust account be levied? Or does the Trust protect you like a corporate account does?



    Depends on the terms of the trust, when the trust was established. If it's a trust that provides income, yes, that income is subject to garnishment.

  • All times are GMT -7. The time now is 11:57 AM.