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07-13-2007, 10:25 PM
| | Junior Member | | Join Date: Jul 2005
Posts: 8
| |  Divorce and LRtrust
I live in CA, My husband is much older than me. We are going through uncontestable divorce. According to prenup in case of divorce I_ll get some small amnt of money. My husband has Revocable living trust where I am sole beneficiary of all his assets (which is not really big). If my husband will not change his trust after divorce do I still get his all assets after his death? Thanks
Last edited by iravena; 07-13-2007 at 10:28 PM.
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07-14-2007, 06:49 AM
| | Senior Member | | Join Date: May 2004
Posts: 41,368
| | Quote:
Originally Posted by iravena  I live in CA, My husband is much older than me. We are going through uncontestable divorce. According to prenup in case of divorce I_ll get some small amnt of money. My husband has Revocable living trust where I am sole beneficiary of all his assets (which is not really big). If my husband will not change his trust after divorce do I still get his all assets after his death? Thanks | Correct. If he leaves you as the beneficiary of the trust, you will still receive his assets. However, do not expect that he will do that. |
07-14-2007, 08:00 AM
| | Senior Member | | Join Date: Jan 2003
Posts: 19,148
| | | ESpecially if he remarries or becomes a parent. My husband became a daddy at 52.
Paul McCarney at 62!
If you are not that old, why not work and accumulate your OWN assets?
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Adoptive parents ARE "real" parents. Sharing genes is not what makes you a "parent"!
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07-14-2007, 09:20 AM
| | Junior Member | | Join Date: Jul 2005
Posts: 8
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Thank you for replyes. I am 55 and i am working. My income now 3 times more than his, but i started working full time only 2 years ago because i am from other country and it took time to learn English and get education. I asked this question because my husband's lowyer told him that he should not worry about trust and i will get only per prenup agreement.  |
07-14-2007, 09:26 AM
| | Senior Member | | Join Date: Jan 2003
Posts: 19,148
| | | So how long was the marriage? Even without a pre-nup, any PREMARITAL assets would not be included in the divorce. So, if the trust consists of money he had before the marriage, you'd have no claim to it.
__________________
Adoptive parents ARE "real" parents. Sharing genes is not what makes you a "parent"!
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07-14-2007, 09:29 AM
| | Senior Member | | Join Date: May 2004
Posts: 41,368
| | Quote:
Originally Posted by nextwife So how long was the marriage? Even without a pre-nup, any PREMARITAL assets would not be included in the divorce. So, if the trust consists of money he had before the marriage, you'd have no claim to it. | Except upon his death IF he doesn't remove her as the beneficiary. However, I am nearly certain that he WILL remove her. |
07-14-2007, 09:38 AM
| | Senior Member | | Join Date: Jan 2003
Posts: 19,148
| | | Does he have children from BEFORE this marriage? If so, COUNT on him changing the beneficiary.
__________________
Adoptive parents ARE "real" parents. Sharing genes is not what makes you a "parent"!
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07-14-2007, 10:04 AM
| | Junior Member | | Join Date: Jul 2005
Posts: 8
| | | Thanks . We are married for 3 years, he doesn't have any family, we want to do divorce peacefuly, i am not going claim on any his assets. We are tenant in commone 50/50 of our house. Right now we both have trust where house goes to survival. Our divorce settlement suppose to have condition that we are not going change anything regarding house. I have daughter and i wonder can i leave my 1/2 of house in my trust to her in case if i die first but she would get it only after his death. I don't want hurt him in any respect, but he has some mental problems. Thanks a lot for your help |
07-14-2007, 10:50 AM
| | Senior Member | | Join Date: Jan 2003
Posts: 19,148
| | | Yes, if ownership IS TIC you can leave your interest to your heir and provide a Life Estate provision to insure his use of the property until his death.
__________________
Adoptive parents ARE "real" parents. Sharing genes is not what makes you a "parent"!
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07-14-2007, 10:57 AM
| | Junior Member | | Join Date: Jul 2005
Posts: 8
| | | Thank you very much |
07-14-2007, 11:05 AM
| | Senior Member | | Join Date: Dec 2005 Location: Ohio
Posts: 31,761
| | Quote:
Originally Posted by nextwife Yes, if ownership IS TIC you can leave your interest to your heir and provide a Life Estate provision to insure his use of the property until his death. | Except for the fact that she said the divorce was to have a provision stating that NOTHING regarding the house would change. Hence she may not be able to do that per the divorce decree. Actual wording matters.
__________________
Parents should remember three things: Love your kids more than you hate your ex (or soon to be ex) & when you have children the relationship with the other parent is until death parts you & how you treat your children determines what type of nursing home you end up in.
Nothing stated by me should be taken as giving you legal advice or forming an attorney/client relationship. The devil is in the details after all.
Licensed to practice law in Ohio and a Guardian Ad Litem for children
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07-22-2007, 06:24 PM
| | Junior Member | | Join Date: Jul 2005
Posts: 8
| | | change title of house
Quote:
Originally Posted by nextwife Yes, if ownership IS TIC you can leave your interest to your heir and provide a Life Estate provision to insure his use of the property until his death. | We are own house in TIC 50/50. House was bough during out 3 years marriage on my husband's money. It was his decision to put my name on title, due to my concern that because of his bipolar disorder he can change his mind about anything (and I was so right). Is there is any condition that my husband change title of our house back only on his name? |
07-22-2007, 07:20 PM
| | Senior Member | | Join Date: May 2004
Posts: 41,368
| | Quote:
Originally Posted by iravena We are own house in TIC 50/50. House was bough during out 3 years marriage on my husband's money. It was his decision to put my name on title, due to my concern that because of his bipolar disorder he can change his mind about anything (and I was so right). Is there is any condition that my husband change title of our house back only on his name? | No, he could not do that without your agreement, or an order from the judge in the divorce proceedings. However, he would have to pay out to you your share of the equity of the home if the judge were to order that the home was to become his sole property. |
07-22-2007, 07:40 PM
| | Junior Member | | Join Date: Jul 2005
Posts: 8
| | | What can be condition that judge would order give him all house back? This house was bought as affordable housing for 230K and paid off, market price now is 430K. According to agreement we can’t sell this house for 15 years for market price. May be now we could sell it for 300K. How much I would get for my ½ if house paid off? Or it will be still equity? Like I understand my husband is going to try to get title back on his name. What is my strength? I have paper from his psychiatrist about his mental diseases….Thank you very much. |
07-22-2007, 08:24 PM
| | Senior Member | | Join Date: May 2004
Posts: 41,368
| | | With that much equity in the house, you cannot afford to be without an attorney. | |
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