Trust versus court awards

[doonboggle]

What is the name of your state? Nevada

We have a revocable family trust that presently has all of our assets, other than our automobiles, in it; and has been duly recorded.

We 'might' be facing a minor frivilous lawsuit. If by chance the decision is negative for us, and an award is issued to the plaintiff, can they seize any of our assets ... garnishment or otherwise ... in the trust?

Much of the trust cash assets are in the form of the wife's IRA. The rest of the cash, real estate, etc. is merely registered in the trust name.
Thanks
Chuck

 

[HandyAndyGuy]

I'm under the impression that one of the benefits of a trust is that it cannot be attached for court awards because the trust owns the assets. You individually or personally do not own the assets. The lawsuit is against you, not the trust.

 

[tranquility]

The trust is as you are. A revocable trust does not provide any protection.