Divorce and LRtrust

[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

 

[LdiJ]

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.

 

[nextwife]

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?

 

[iravena]

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.

 

[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.

 

[LdiJ]

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.

 

[nextwife]

Does he have children from BEFORE this marriage? If so, COUNT on him changing the beneficiary.

 

[iravena]

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

 

[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.

 

[iravena]

Thank you very much

 

[Ohiogal]

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.

 

[iravena]

change title of house

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?

 

[LdiJ]

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.

 

[iravena]

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.

 

[LdiJ]

With that much equity in the house, you cannot afford to be without an attorney.