Property protection incase of creditor or divorce
Rajesh Raj
(Querist) 08 August 2022
This query is : Resolved
Hi,
If my mother creates a irrevocable asset trust and makes me as a beneficiary , will I be protected and my assets be protected during divorce or by creditor.
Please advise
kavksatyanarayana
(Expert) 08 August 2022
No legal elements are involved in your query and are also not clear.
Rajesh Raj
(Querist) 09 August 2022
Sorry I was not clear in my earlier question
My question is if I am a beneficiary of irrevocable asset trust, will those assets be protected from creditors and other family members?
Please let me know if you need any clarification
kavksatyanarayana
(Expert) 09 August 2022
The trust deed shall be verified. So show it to a prudent lawyer in your area. You have to prove that you are the beneficiary of trust assets.