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Is Maryland is a dysnat trust state, can it be protected…

Customer Question
Is Maryland is a...

Is Maryland is a dysnat trust state , can it be protected from creditors

Lawyer's Assistant: Have the trust documents been finalized? What are the basic terms?

No I am just being thinking to create one in case I get a law suite

Lawyer's Assistant: Has anything been filed or reported?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I just want to know if dynast trust is valid the state i just need to know that first before i make my decisionn

Submitted: 1 year ago.Category: Legal
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Answered in 53 minutes by:
8/3/2017
Lawyer: Ely, Counselor at Law replied 1 year ago
Ely
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Maryland is a Dynasty Trust state - correct. Because a Dynasty Trust is irrevocable and removes assets from your ownership technically, it may be used to protect your assets from a judgment leveled against you in the future. In that sense, it can be used to protect your assets from a judgment creditor.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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