Property protection incase of creditor or divorce

Rajesh Raj (Querist) 08 August 2022 This query is : Resolved
Hi,

If my mother creates a irrevocable asset trust and makes me as a beneficiary , will I be protected and my assets be protected during divorce or by creditor.

Please advise

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Quick Summary

This discussion explores whether assets held within an irrevocable asset trust, where you are a beneficiary, can be protected from creditors and other family members. While the general concept is that such trusts can offer protection, it's crucial to have the trust deed reviewed by a qualified lawyer. You will need to formally establish your status as a beneficiary to ensure these protections apply to you.

kavksatyanarayana (Expert) 08 August 2022
No legal elements are involved in your query and are also not clear.

Rajesh Raj (Querist) 09 August 2022
Sorry I was not clear in my earlier question

My question is if I am a beneficiary of irrevocable asset trust, will those assets be protected from creditors and other family members?

Please let me know if you need any clarification

kavksatyanarayana (Expert) 09 August 2022
The trust deed shall be verified. So show it to a prudent lawyer in your area. You have to prove that you are the beneficiary of trust assets.

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