What to do about protecting property in a Trust?
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What to do about protecting property in a Trust?
My husband and I put our property into a revocable trust 7 years ago. He passed away 3 years ago and the trust became a survivor’s and exemption trust with me as a trustee (but it has not been recorded anywhere, only the death of my husband’s as a settlor at the county). I have been renting the house and recently been sued by the tenants. They won and are threatening to force an execution sale of the property if I don’t pay the judgement.Can they? They already put a lien on the title. They sued me as an individual, not as a trustee, nor was the trust itself part of the litigation.
Asked on September 9, 2012 under Estate Planning, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The key with respect to your matter is whether your home is in the name of yourself or of your trust. If the home is in the name of your trust, then the tenants cannot levy against it IF you are not the trustee under the trust. Most likely you are so the trust that your home is presumably in does not help you at all concerning the judgment against you.
I suggest that you consult with a consumer law attorney to assist you in your matter who has experience in real estate and trust matters.
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