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TOPIC: In Trust Law Settlor's Creditors have access?

In Trust Law Settlor's Creditors have access? 5 months 1 week ago #939


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In reading today I found this:

"Under trust law, the settlor's creditors genneraly cannot reach the trust property so long as the settlor is NOT also the beneficiary of the trust...it provides that if the settlor retains a benficial interest in the trust property, then his creditors can reach his interest in that property even in the face fo explicit efforts on this part to provide, in terms of the trust, that his creditors may not reach his interest."

It makes sense to me why this is of interest to creditors, but if it is so, how does one use a private trust to benefit ones-self safely and efficiently?

So, maybe as I read further I'l find the answer to this, but it seems important enough that it has stalled my undestanding of the benefits of the trust again.

Any input appreciated.
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In Trust Law Settlor's Creditors have access? 4 months 3 weeks ago #946


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Beneficiaries of a private express trust need not be revealed. When operated correctly, a private express trust is not subject to subpoena, so no records are due to any creditor.

Having said that, it's also advisable to not be a beneficiary. Gather your benefits as trustee. Keep your three trust parties distinct: grantor, trustee(s), and beneficiary(ies).
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