The inheritance is free and clear and positive in a financial sense. But I have legal medical, and other debts… my question is can they force me to liquidate by leins or the sort and what would be a adaquate
Means to shelter these assets from any interests so I can inherit what will be left to me as owner the inheritance is Real property 2, 3 parcels and vehicles and personal effects and any monies in accounts …
So how to shelter this from my debts…. and assume ownership …. this is my question
ATTORNEY ANSWER BY MARGARET L. CROSS BELIVEAU:
Your father needs to inform his attorney of your financial situation. If you inherit these assets outright, the assets will be seized by your creditors. One option that may work is for your father to set up a discretionary trust for your benefit. This means that the Trustee cannot be forced to make distributions to you or your creditors. His attorney will be able to work through the options with him. Ultimately it is his choice.
Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice.
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The estate planning attorneys at the Beliveau Law Group provides legal services for estate and asset protection planning. The law firm has offices and attorneys in Naples, Florida; Waltham, Massachusetts; and Salem, New Hampshire.