Typically, no. Since a living trust, by definition, is revocable, that means that you always have a right to take back the trust property until you die. This means those assets have no better protection from creditors under the law than if you owned them outright.
After the trust becomes irrevocable (the last person with a right to revoke the trust passes), the trust may then offer some creditor protection to the beneficiaries of the trust. But, this creditor protection is dependent on how the trust is drafted. A poorly drafted trust may have no creditor protection at all for your beneficiaries. A properly drafted trust may have no creditor protection either if the property is to be distributed to the beneficiaries outright immediately at the time of your death.
Contacting the law firm does not create an attorney-client relationship; only a written contract signed by both lawyer and client can form an attorney-client relationship. All use of this website is subject to the site's Disclaimer and by visiting this site you agree to the Disclaimer without modification. All prices listed on the website are subject to change without notice and are subject to the Disclaimer and the Prices page.
© 2015 Law Office of James Ryland Miller, PLLC. All rights reserved. No portion of this website may be used, published, modified, reprinted, or aggregated without the express written permission of Law Office of James Ryland Miller, PLLC.
Law Office of James Ryland Miller, PLLC
1325 W. Randol Mill Rd, STE V201
Arlington, TX 76012
By appointment only