Can creditors' of a parent go after the assets of a child?
Question Details: My mother Gifted money to myself and my children over a year ago. Now it turns out that she has an outstanding debt which the creditor is now trying to collect. Can they come after My family since my mother gifted funds to us?
I am a lawyer in CT and practice in this area of the law. Creditors may going after those people that it contracts with. if you do not have a direct legal relationship with the creditor, they may not come after you even if the person that owes money gave it to you. however, the creditor may come after the money if you owed the money to the debtor. in this case, you should not have to worry as you do not have a direct contract with the creditor, rather, your mother does. unless the girft was to avoid paying the debt, you should be fine (credit card companies rartely file claims for fraudulent transfers).