If I file Bankruptcy in the state of Texas and I have a living trust can my crditors take my home.
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If I file Bankruptcy in the state of Texas and I have a living trust can my crditors take my home.
Asked on May 10, 2009 under Bankruptcy Law, Texas
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
A bankruptcy attorney would need quite a bit more information to answer this question with any certainty. One place you can find a qualified lawyer is our website, http://attorneypages.com
Some of the things that would be considered would be the total amount of your debts, the value of your equity in your home and the total value of your other assets and your income. Without seeing the trust document, there is no way to tell what protection that might give.
You might well have some better options than anything you have thought about. This is why it would be very well worth it to get a good lawyer, first.
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