Family Trusts & Life Insurance in a Divorce
Consideration of trust interests in determining support and property division, and the use of life insurance both inside and outside of trust to provide appropriate security post-divorce
- Product Number: 2250279RB1
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CLE Credits, earn up to:
2 substantive credits, 0 ethics credits CLE Credit Note - Print Brochure
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Product Description
Product Description
To what extent is a trust vulnerable to or immune from attack in divorce? Trusts present unique challenges when dividing marital assets in a divorce and may also be a factor in determining support. Some trusts are considered marital property subject to division, while others are protected from division but may still impact the court’s overall financial analysis. The case law on this topic is continuously evolving and the past few years have seen a cascade of decisions from appellate courts. Trusts are so commonplace and yet often quite sophisticated and nuanced. When handling a divorce, it is critical to read the trust, understand its terms, and understand the law as it pertains to the ability to attack a trust and how to defend against such an attack.
Life insurance often becomes a factor in divorce, both with respect to existing policies held within or outside of trusts and with respect to new policies that may be required to provide security for ongoing financial obligations. Careful and creative planning can often inure to both parties’ benefit.
Our panel of family law and trust litigation experts discuss best practices when representing divorcing parties who have an interest in or seek to claim an interest in a spouse’s trust. The panel reviews trust terms, landmark decisions, and strategies on both sides of trust- and insurance-related claims in divorce.
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