I am a trustee on a trust fund from my deceised father, but my brother who is the executor has it in a account in his name according to my fathers wishes,because of poor deceisions regarding money on my part.Can a creditor take that money to pay off past medical bills I owe?
even though it is in my brothers account.im not sure if I am the trustee or the beneficiary in legal terms
I agree with Attorney Pippen, but I believe that under the facts you have laid out, the money is in your brother's account and not the trust. That being the case, HE would be the owner and YOUR creditors would not have any claim on this.
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Estate Planning Attorney
If the trust has a spendthrift clause-the answer is No.
Have the trust reviewed by a local attorney to advise you.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.
Estate Planning Attorney
My colleagues have given you the probable answer to your questions, but it is difficult to be sure because your statement of facts is a bit confusing. You say you are a trustee under your father's trust, but I doubt that if he knew you made poor decisions regarding money. Are you sure you don't mean you are a "beneficiary" of a trust fund.
If there are assets in a trust, the fact that your brother is an executor is irrelevant. One has virtually nothing to do with the other.
I think you have your terminology mixed up. You need to re-post your question with more precise facts, or go see an attorney who specializes in trusts and estates and ask him to help you figure out what is going on.
3 lawyers agree