Homestead, FL asked in Banking and Bankruptcy for Florida

Q: I have a classic car in an irrevocable trust for my children and we might have to file bankruptcy will the car be safe?

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1 Lawyer Answer
Terrence H Thorgaard
Terrence H Thorgaard
Answered
  • Bankruptcy Lawyer
  • Freeeport, FL
  • Licensed in Florida

A: Perhaps. It depends on such things as whether you were insolvent at the time you created the trust, and whether you put the car in trust with the intent to keep it away from your creditors.

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