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gic

i have a GIC which is in trust for a family member, will bankruptcy take this too?

Posted from: Ontario

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One Response to “gic”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

If you did up all the documents properly to set up this trust for another family member, then no. But the documentation must be done correctly. If you simply took the money, put it in a GIC and there is no record that it has been done for the other party, then you would likely loose this GIC as part of the bankruptcy.