How are trusts handled in a divorce?
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How are trusts handled in a divorce?
In the usual case, the husband, the wife or the husband and the wife are the trustees or sole directors of a corporate trustee, or the appointor/principal with the power to change trustees, and are also the beneficiaries, the assets of the trust will be Property that is available to be split by the Family Court.
Does a Trust Protect your assets in a divorce?
Aside from being used as an estate planning tool, trusts can be used for asset protection in divorce. If a spouse established a trust prior to the marriage, the assets placed in that trust are typically considered separate property as long as the funds are not combined with marital funds at any point.
Why would someone drag out a divorce?
Someone may be delaying the divorce and dragging it out as being a form of punishment or payback to their ex, to benefit financially, to attempt to financially drain the other party, to delay ending a marriage, or some other agenda.
