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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Estate Law
Satisfied Customers: 116786
Experience:  Experienced in Trust and Succession Law, including Louisiana Laws
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My daughter has filed and all her personal and corporate

Customer Question

My daughter has filed for bankruptcy and all her personal and corporate assets are involved. Is there any reason I should remove her from getting any funds from my estate, I'm 86 years old.
Submitted: 1 year ago.
Category: Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Remove her from getting your assets, no. Changing how she is getting those assets, YES. What I mean is that you need to protect her and you, since if you die before the bankruptcy is completed, your assets will all be taken to pay her debts. You can prevent that from happening by placing all of your assets into an irrevocable trust with her as a beneficiary and set up terms in the trust to give her only limited access to funds. This way, on your death, no creditor, yours or hers, could touch the money and you can make sure it goes to her and they do not seize it.

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