tag:blogger.com,1999:blog-12178355.post139695453420569446..comments2023-10-30T05:00:08.994-04:00Comments on LINDA'S LAW BLOG @ LINDAKERNSLAW: The effect of divorce on irrevocable trusts.Linda A. Kernshttp://www.blogger.com/profile/15846024950954599178noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-12178355.post-48960383483239102962013-03-18T19:19:06.492-04:002013-03-18T19:19:06.492-04:00what happens if : someone creates a trust prior to...what happens if : someone creates a trust prior to marriage and its a Irrevocable Trust in which the Grantor and Beneficiary are the same person. You take pre-marital assets and after marriage transfer your assets into the trust and any income from those assets during your marriage you live off of and during divorce expect the trust will be exempt from support obligations. One question is what if the person is a NJ resident but has family and the assets are in PA and creates a PA trust but is not a resident? and created this "self settled" trust in 2002 but files the first return in 2009 ? fortune cookiehttps://www.blogger.com/profile/15807406704752325584noreply@blogger.comtag:blogger.com,1999:blog-12178355.post-31620845524621591552013-03-07T15:56:09.925-05:002013-03-07T15:56:09.925-05:00It is irresponsible to post inaccurate information...It is irresponsible to post inaccurate information, especially when people are seeking correct answers to guide their lives. Pennsylvania adopted the UTC trust code in 2006. It assumes all trust are irrevocable unless stated otherwise. 7710.2 by its terms governs all inter vivos trust including irrevocable one. It states " The rules of construction that apply in the Commonwealth to the provisions of testamentary trusts also apply as appropriate to the provisions of inter vivos trust. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12178355.post-53064181980373859072012-07-10T06:14:35.524-04:002012-07-10T06:14:35.524-04:00Linda,
In New Jersey, if a child has an irrivocabl...Linda,<br />In New Jersey, if a child has an irrivocable trust from one parent with a fully paid for investment home held in the trust, can the childs parents divorce cause the child to lose the home in the trust?? Only one parent currently knows of the trust.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12178355.post-22823134247492769492012-05-10T14:42:37.241-04:002012-05-10T14:42:37.241-04:00Thank you for all of your comments and your intere...Thank you for all of your comments and your interest in my writing.Linda A. Kerns, Esquirehttps://www.blogger.com/profile/09424553771079585556noreply@blogger.comtag:blogger.com,1999:blog-12178355.post-66727313406189757462012-05-10T14:41:52.038-04:002012-05-10T14:41:52.038-04:00It is impossible (and irresponsible)to answer spec...It is impossible (and irresponsible)to answer specific questions without understanding all of the details of each specific case. Additionally, I currently only practice in PA and NJ. Obtain legal advice from an experienced attorney in your jurisdiction.Linda A. Kerns, Esquirehttps://www.blogger.com/profile/09424553771079585556noreply@blogger.comtag:blogger.com,1999:blog-12178355.post-40035701964687287612012-05-10T13:38:55.802-04:002012-05-10T13:38:55.802-04:00What if the sole trustee gets divorced, ( me). Th...What if the sole trustee gets divorced, ( me). The soon to be ex-spouse, (wife) has been excluded from the the living trust and its irrivocable. No assets have been comingled. Is she entitled to any of it. Getting divorced in OregonUnknownhttps://www.blogger.com/profile/11472537898268200337noreply@blogger.comtag:blogger.com,1999:blog-12178355.post-29981168389534052542011-11-30T06:41:49.598-05:002011-11-30T06:41:49.598-05:00Hi there, awesome site. I thought the topics you p...Hi there, awesome site. I thought the topics you posted on were very interesting. I tried to add your RSS to my feed reader and it a few. take a look at it, hopefully I can add you and follow.Divorce in Indiahttp://indiandivorce.in/noreply@blogger.comtag:blogger.com,1999:blog-12178355.post-3675604928495424622011-08-30T07:57:04.672-04:002011-08-30T07:57:04.672-04:00even if a spouse's interest in a third-party s...even if a spouse's interest in a third-party spendthrift Trust like this one is considered a "non-marital" asset, any enhancement in value and appreciation of the Trust during the marriage due to the efforts of either spouse could nevertheless be a "marital asset." For example, what if the spouse/discretionary beneficiary also serves as sole Trustee of her Trust (or perhaps Co-Trustee with a compliant relative) and is active in the management/oversight of the Trust's investments during the marriage? Would the Trust's appreciation during the marriage be considered a "marital asset?"<br /><br /><a href="http://www.floridalemonlawattorneys.com/" rel="nofollow">Florida Lemon Law</a>Florida Lemon Lawhttps://www.blogger.com/profile/03236755627128454225noreply@blogger.com