February 28th, 2011 by Questions
Are accounts set up as in trust for accounts exempt in bankruptcy?
Posted from: Alberta
February 28, 2011 at 9:34 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
This is a difficult question to answer without reviewing the proper documentation. But techincally, if the accounts meet the true definition of trust property then they are considered exempt from seizure in a bankruptcy. What you need to do is bring all the documentation you have relating to these trust funds and have them reviewed by a local trustee.
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