Are the creditors entitled to my wife’s money from her mothers irrevocable trust?

We live in Iowa. Wife filed bankruptcy in January. Her mother passed away in May. Everything in revocable trust, (now irrevocable trust) and now is to be divided between the 4 childern.

Asked on June 9, 2009 under Bankruptcy Law, Iowa


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Theoretically, if it is now your wife's asset, it can be used by the trustee.

Further, you should be aware that bankruptcy could affect you, as well.

Consult with an attorney.  Try and check his or her record at the Iowa State Bar.

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 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.