[F]Yesterday I received a court summons via sheriff for an unpaid credit card debt.
I was laid off in 2004 and haven't worked since. My mother is 87, in poor health and I live with and care for her. I have no income, assets or property.
My concern is that my mother's bank accounts have my name on them with her as trustee. Will the court or collectors be able to use my mothers assets to satisfy any judgement they may win?
Also, I have no idea what to expect in court, can anyone give me some advice? If it helps, I live in Illinois.
Thank you in advance.

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Originally Posted by phiverson

Will the court or collectors be able to use my mothers assets to satisfy any judgement they may win?

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Hello p:

Yes, and I'll bet you can't get your mother to the bank to open a new account, either.

If you can raise a little cash, I'd try to negotiate a settlement BEFORE you get to court. If you wait, the amount you owe will probably double.

excon

It depends on how the account titles are worded. If you are Joint tenants, then yes they can attach those accounts. But if they are in trust for you, then no they likely can't.

It sounds like the bank accounts are yours, why is "her money" in your name with her as a "trustee" these sounds like trust accounts that you own.

But of course they can merely get their judgement, wait for your mom to pass away and put a claim against the esate for their money

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Originally Posted by Fr_Chuck

It sounds like the bank accounts are yours, why is "her money" in your name with her as a "trustee" these sounds like trust accounts that you own.

But of course they can merley get thier judgement, wait for your mom to pass away and put a claim against the esate for their money

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The accounts are in her name they say 'trustee for john doe" so they are her accounts, with my name on them.

Worded that way, I think they are safe.

ScottGem and everyone, thank you for your responses.
I just found out that she has a savingings account with both our names, no trustee thing. I told her we'll go to the bank on Monday and take my name off the account and just make be the beneficiary. I don't want her to have to pay for my mistakes.

If I don't talk to you guys sooner, I'll write on the 12th after court and let you know what happened.
Thanks again!

Good luck and yes please do keep us posted.