Irrevocable Trust Asset Protection

Summary

Assets in an irrevocable trust are generally protected from creditors and lawsuits, as they are not part of your personal estate. However, protection depends on the trusts terms and proper setup. In Arizona, fraudulent transfers can be contested, so its important to ensure the trust is established correctly. Consulting with a knowledgeable attorney is advisable to review the specifics of your trust and ensure compliance with state laws.

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If I have an irrevocable trust in my name and get sued can someone come after my assets inside the irrevocable trust.
In Arizona, assets in an irrevocable trust are typically protected from creditors, as they are no longer considered part of your personal estate. However, there are exceptions depending on the trust's terms and if any fraudulent transfers were involved.
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How do I use an Irrevocable Trust to protect business and assets from a lawsuit?
To protect your business and assets from a lawsuit using an irrevocable trust in Arizona:
- Transfer ownership of your assets to the trust, removing them from your personal estate.
- Ensure the trust is set up properly with clear terms by a knowledgeable attorney.
- Avoid any fraudulent transfers, as these can be contested.
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