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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Can you tell me if a trust fund consisting of natural gas royalties

Customer Question

Can you tell me if a trust fund consisting of natural gas royalties would be protected in a bankruptcy - either Chapter 7 or 13 or neither? Thanks so much.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.
Hello,


Thank you for your question.

If the trust fund was established by someone other than yourself and is "spendthrift" it would typically be protected. You will need to have local counsel review the trust to determine if it is a spendthrift trust. Spendthrift trust means that they cannot be attached or assigned for the benefit of creditors