Many, many people believe that once they form a “trust,” their assets in the trust will be protected against any creditor claims. However, a good number of those people have a revocable living trust in mind – that is, the usual family trust people form to manage or distribute their property upon death or incapacity. When most people mention a “trust,” they are talking about the revocable living trust that allows them to add or remove property at any time, or to terminate the trust. Unfortunately, this type of trust does NOT protect your assets.Read More
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