Everything posted by Springtim2013.
Wow, this is my first attempt at blogging and it's becoming quite an education. Thankfully, my mother is in very good health in her late 80's. She has asked two of us to serve as her co-executors. My concerns are to protect her limited assets,from some of my siblings creditors and judgements, to ensure she can maintain her current life style and live out her life as she desires and deserves. We are not counting chickens or intend to leave her scratching with the chickens. I am seeking information, so we can intelligently discuss matters while she is still very capable and has the foresight of preplanning. So put your concerns at ease.
The state is Minnesota. The siblings are 8 brothers and sisters. All are named on Certificates of Deposit and in their mothers will. One sibling has civil judgements pending. Others may have creditors, but none are known to date. The father is deceased. The mother may change from a will to a revocable trust, naming all children. There is also property, land only, (no home) which is owned by the mother. The co-executors of her estate are wondering if the courts can take the total amount owed to the creditors, which exceeds the one sibling's share.
In a will or trust, where there are multiple siblings, and there are outstanding judgements on one, can the creditors take all the inheritance to cover this one person's debt?