Attacking and Defending Trusts Assets in Divorce

Trust structuring is often the cornerstone of planning for married couples. When a marriage ends, are trust assets accessible or “off limits” in a divorce? Even if those assets are “off limits,” what other options might you have to take advantage of those assets? What potential pitfalls do you need to look out for? We will address these questions and review practical guidance and tips for attacking or defending trusts in divorce, including: • Evaluating trust provisions to determine how vulnerable trusts are to attack in divorce; • Determining what types of trust administration could potentially create a marital interest; • Exploring how existing “irrevocable” trusts might be altered to eliminate or shift beneficial interests; and • Investigating ways to avoid thorny tax traps Drawing upon the latest judicial and legislative developments, this presentation will raise awareness of some of the financial, tax, estate planning, and family law issues that need to be considered to help best position clients when trusts appear on the divorce balance sheet