November 5, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
Trusts are no longer a certain mechanism for preserving assets from loss in a divorce. Over time the law has changed and in many states allows a divorcing spouse to make a claim on the income or assets of a trust benefiting the other spouse. This is often a shocking realization for trust settlors and beneficiaries and can substantially complicate estate planning. The rules are not uniform and the viability and extent of a claim depends on the type of trust, the type of beneficiary interest that is held, and the value placed on that interest. This program will provide you with a practical guide to the law of division of trust assets or income in a divorce, the states where and the circumstances in which claims cause the greatest depletion of assets, and estate planning to minimize loss.
Missia H. Vaselaney, Taft, Stettinius & Hollister, LLP, Ohio