QUESTION

Me and my wife recently paid our mortgage offf and we are both disabled.We were told to put the home in a living trust to protect it from creditors .

Asked on Feb 21st, 2013 on Real Estate - Iowa
More details to this question:
Is the information they give us correct?Thank you
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1 ANSWER

There are too many different variables to answer the question of to protect specific assets, as it currently is asked.  It depends on numerous factual issues, such as who the creditor is.   You should consult a local estate planning attorney because each state has unique laws and a local attorney can determine how best to protect specific assets.   This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Feb 22nd, 2013 at 1:58 PM

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