What is the name of your state (only U.S. law)? OHIO
My mother and father created a revokable living trust in 2003. They were the settlers. My father passed in 2005. My mother is of bad health.
I am the sucessor trustee, then my brother.
I am going through a nasty divorce and will have to file bankrupsey. I was advised by my bankrupsey lawyer that if I receive any inheritance 180 days post filing, they bankrupsey court can take my inheritance to pay the debts.
1.) Is this true for a trust, and I will just be the sucessor trustee after my mothers death? Can they take anything since its still in a "trust"?
2.) How easy or hard is it to have my mother change the trust so that my brother is first on the sucessor trustee, then myself? Is it as simple as crossing out my name and writing his? Should I write an amendment and have it notorized?
This way if somthing does happen to my mother before the 180 days of bankrupsey filing, my brother gets the trust and I wouldnt have to give everything to the bankrupsey court.
I would like to make this change without paying any additional fees/costs.What is the name of your state (only U.S. law)?
My mother and father created a revokable living trust in 2003. They were the settlers. My father passed in 2005. My mother is of bad health.
I am the sucessor trustee, then my brother.
I am going through a nasty divorce and will have to file bankrupsey. I was advised by my bankrupsey lawyer that if I receive any inheritance 180 days post filing, they bankrupsey court can take my inheritance to pay the debts.
1.) Is this true for a trust, and I will just be the sucessor trustee after my mothers death? Can they take anything since its still in a "trust"?
2.) How easy or hard is it to have my mother change the trust so that my brother is first on the sucessor trustee, then myself? Is it as simple as crossing out my name and writing his? Should I write an amendment and have it notorized?
This way if somthing does happen to my mother before the 180 days of bankrupsey filing, my brother gets the trust and I wouldnt have to give everything to the bankrupsey court.
I would like to make this change without paying any additional fees/costs.What is the name of your state (only U.S. law)?