Divorce is complicated–emotionally, legally, and, of course, financially. Whenever a couple cannot agree on the terms of their divorce, their marital assets will most likely enter the equitable distribution process. Simply put, this means that most assets accrued during the marriage will be divided between both parties–not equally, but fairly and equitably. Some assets that are frequently up for equitable distribution include homes, cars, pensions, and more. That being said, oftentimes, spouses do not consider that there are additional assets that may also be up for equitable distribution, such as trusts in their estate plan. Unfortunately, trusts are often considered in divorce, which is why you must do everything in your power to protect them, especially if the trusts are for, say, your children. Please continue reading and speak with our knowledgeable California divorce attorneys to learn more about how to protect your trusts from divorce.
What can I do to protect trusts for my children from my divorce?
Fortunately, there are various strategies you can put in place to protect any trusts that are meant for your children. To start, you should give as much power to your trustee, or the person who is managing the trust, as possible. The less power the beneficiary (your child) has over the trust, and the more power the trustee has over the trust, the greater the chance will be that your trust will not be subject to the equitable distribution process. Additionally, when making your estate plan, you should be sure to include multiple beneficiaries on your trust to ensure that, should you ever get divorced, the court will understand that the trust is designed to benefit multiple parties, including your children, and not only your spouse.
Trusts are among the most complicated issues when it comes to property division, which is why if you are someone who either believes your spouse is trying to take assets in a trust that do not belong to them, or you are a spouse who believes you are entitled to assets in a trust and your spouse is refusing to turn them over, you must retain the services of an experineced Los Angeles divorce attorney. We have helped countless individuals through this process for years, and we know we have what it takes to do the same for you, too. All you have to do is give us a call today.
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.