Sunday, September 13, 2015

Beware That Your Trust May Be Treated as Your Children’s Marital Property in Divorce

Beware That Your Trust May Be Treated as Your Children’s Marital Property in Divorce - PRIVATE WEALTH SERVICES BLOG - Holland & Knight (JEH: This helpful (and sobering) blog post was written by colleagues Shari Levitan and John D. Dadakis, Esq. Most people view protection of trusts that will benefit their children (or beyond) as one of their primary goals. Florida law generally protects these trusts, even where the child is both a beneficiary and a trustee. However, Floridians should still consider designing these types of trusts in ways that enhance basic statutory protections, such as the use of an independent trustee or co-trustee and, in certain situations, the use of a wholly discretionary trust.)