0
Can credit card companies file liens on your home in California if it is in a Living Trust?
Wiki User
∙ 14y ago
That all depends on the trust and whether it was properly drafted to remove your property from your estate and place it out of reach from your creditors. If your trust was improperly drafted your property will remain vulnerable to creditors. One of the most common trust errors made is for the grantor of the trust to retain control over the trust property by acting as the trustee and often as the beneficiary as well. In that scheme no trust was created and the property is still in the estate of the grantor.
Your trust needs to be reviewed.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Does a Grant deed override a Living Trust in California?
In the state of California, a Living Trust will override a grant deed. You should speak to a lawyer to draw one up.
What happens if the beneficiary of a california living trust dies before the estate is settled?
There is a disconnect here. A living trust is not related to an estate. The wording of the trust and perhaps the will associated with the individual will determine what the expectations are.
What companies specialize in providing credit report scoring?
Many companies specialize in providing credit report scoring. You may want to look into services that are offline, as you never know who you can trust or not online.
In the case of a living trust what are credit card companies' options if the family of a deceased person does not respond to inquiries about paying off the deceased's balance?
The credit card compaines will hire someone to harass the family to get the money, or they will hire a lawyer and go to court. They don't care.
In California can a spouse revoke a revokable living trust without the other knowing?
You need to review the provisions of the trust to determine how it can be terminated.
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between credit shelter trust and irrevocable trust?
Living Trust Revocation?
Get StartedThe Living Trust Revocation is a document used to revoke a living trust or joint living trust. The Revocation can be used to either dismantle the entire plan of using a revocable living trust or to revoke the "old" living trust in preparation for preparing and signing a "new" living trust. However, if a new living trust will be created, and if it will have the same number of grantors as the revoked living trust, consider amending and restating the existing living trust instead of revoking it. If the living trust is merely restated and not revoked/replaced, the assets already transferred to the living trust will remain in the living trust, avoiding the need to transfer each of them. (See this program's Living Trust or Joint Living Trust documents and select the option to "Amend" the Trust.)
What is the definition of a living trust?
A living trust is simply a trust created by a living person. It is also known as an "inter vivos trust". That's Latin meaning a trust between living persons. Conversely, a trust created by someone in a will is called a testamentary trust.
When was Lake Trust Credit Union created?
Lake Trust Credit Union was created in 1944.
What companies can you trust buying spy watch?
What companies can i trust byinh spyr watch
What is the living trust all about?
A living trust is very similar to a living will. The living trust is created by the individual and outlines the wishes of that individual in regards to their assets.
If you're being sue by credit card companies is your special needs trust safe?
Yes, if (and that's a very important "if") the trust has been established in the correct way to enable it to be protected from creditor garnishment or seizure.
