Posted by Mike Daly on March 11, 2002 at 18:24:03:
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I trust you, but… - Posted by Janice
Posted by Janice on March 11, 2002 at 18:08:12:
How powerful is the smokescreen that a trust puts up?
Let?s say that I place a rental unit in a land trust, the trust is called ?The Amazon Ring Tailed Monkey Trust?, and the trustee is a different surnamed inlaw in a distant state.
Can a lawyer just go ahead and subpoena the trustee? Or will he need to go before a judge and get the subpoena okay?d? If so, what level of proof is required that the suit has merit before the judge signs? Or do they just rubberstamop such requests?
Once he has a signed subpoena will it be valid in the other state? Or will he be required to get the subpoena approved by yet another judge before it will be enforced in a foreign state?
Enquiring minds want to know?.
Re: I trust you, but… - Posted by Dave
Posted by Dave on March 13, 2002 at 14:52:27:
Janice, I don’t have the answer to your question, but as you can see it’s obviosly a lot more difficult to determine the owner when the property is in a trust. That’s the whole point. Of course there is a way for them to find out, but a contingency lawyer isn’t going to put the time into this unless he thinks there is a big gain somewhere. On the other hand, if you don’t have any trusts and a lawyer sees that you own 10 properties, he has much more incentive to take the case.