This type of trust is called a "self-settled trust" and the person who creates the trust and transfers property to the trust is called the "settlor." The concept that you cannot create a trust to defeat your creditors is codified in Arizona Revised Statutes Section 14-10505(A)1 that states, "During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors." Arizona Revised Statutes Section 14-10505(A)2 states, ". . . with respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit."
Gilbert Arizona Irrevocable Trust for Lifetime Benefit of Trustor Covering Family Residence
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State:
Arizona
City:
Gilbert
Control #:
AZ-01700BG
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Word;
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How to fill out Gilbert Arizona Irrevocable Trust For Lifetime Benefit Of Trustor Covering Family Residence?
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