Nobody wants to imagine the day they get divorced. Unfortunately, divorce is something that has become a very common part of our society, and if you are someone who is currently going through the divorce process, you most likely have several concerns. On top of the emotional and legal stresses of divorce, you most likely have a variety of financial concerns as well. As you know, the equitable distribution process is often unkind to divorcing spouses, and if you believe your assets are at stake, you are most likely looking to do everything in your power (within the confines of the law) to preserve those assets. This is especially true if you have children. Most people create estate plans to help ensure that their assets are passed down to their loved ones, including their children. However, if those assets are on the line, you are most likely wondering what you can do to protect them. Trusts, among other assets, which are often used to hold assets for minor children until they are of age, are frequently included in the equitable distribution process. Our firm is here to help. Read on and reach out to our experienced Los Angeles divorce attorneys to learn about what we can do for you.
How can I protect assets in a trust that is supposed to go to my children from a divorce?
While this is not always easy, there are certain ways in which you can work to protect trusts meant for your children. First, you should ensure that the trustee (the person who manages the trust on behalf of your child, the beneficiary of the trust) has as much power over the trust as possible. Doing so will increase the chances that your trust will not be subject to equitable distribution. You can also include multiple beneficiaries on your trust that make it clear to the courts that these assets are not intended to be used for your benefit, and that they are not to be included in the equitable distribution process.
As you know trusts, as well as various other estate planning documents, present complicated issues when a couple gets divorced, which is why if you are someone who is currently going through the divorce process and you either believe that your spouse is trying to keep certain assets of which you are entitled, or you are a spouse who is looking to preserve assets in a trust for your children, you must speak with our seasoned California divorce attorneys today. We are here to help.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.