Bankruptcy
Jun. 9, 2011
Some Trusts Less Safe in Bankruptcy
High net-worth individuals who place cash and property into special trusts under their wives' or children's names may find those holding vehicles less safe from creditors, due to a sea change in appellate law.
Daily Journal Staff Writer
Stock traders, real estate moguls and other high net-worth individuals who place cash and property into special trusts under their wives' or children's names may find those holding vehicles less safe from creditors due to an about-face in bankruptcy law.
Creating trusts in family members' names has been a popular tool, partly because trusts can offer long-term protection for assets by...
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