Broken Arrow, OK asked in Estate Planning, Real Estate Law and Probate for Oklahoma

Q: Will an irrevocable trust protect a house from the owner's credit card debts?

My grandmother has an irrevocable trust, she is the Trustor and Primary Beneficiary. My mother is the Trustee. My grandmother has over 50k in credit card debt. My mother is an authorized user on some of the credit cards but she is not a co-signer or co-owner of any of them. When they created the trust a lawyer filed a Quit-Claim deed transfering ownership to my mother as Trustee of the Trust. When my grandmother passes is there any way that the credit card companies can come after the house? This is assuming that no additional purchases have been made after my grandmother's death.

1 Lawyer Answer
Nina Whitehurst
Nina Whitehurst
PREMIUM
Answered
  • Estate Planning Lawyer
  • Crossville, TN

A: There is no way to answer your question without reviewing the trust and also investigating other facts, like what her balance sheet looked like when the trust was created. Your best bet is to invest in a consultation with an experienced probate attorney.

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