How are irrevocable trusts handled in a divorce?

[SarahAnn210]

What is the name of your state? Texas

My husband and I married in 2005. In 2007 his father set up an irrevocable trust for his son as his health was failing. We received monthly trust checks that were deposited into our account. In June of 2014, his father passed away, leaving and inheritance of more stocks and bonds that upon completion of the will, were to be moved into his sons trust.

We divorced in Nov 2015 and my soon to be ex refused to turn over any financial documents during the divorce. I received many texts from my ex that I would not receive any of his money, at the time I just wanted out of the relationship and be done with it.. My attorney didn’t push the issue.
Am I entitled to any of this? We were married for 10 years, had 1 daughter and he had adopted both of my sons who are adults now. I’ve heard so many conflicting stories on this.

 

[Zigner]

The money coming from his trust is his money, not yours. That he shared it with you for so many years is irrelevant.

 

[HRZ]

Probably but not absolute ...IF monthly checks went into a joint account and funds were commingled and used to pay various marital bills then those funds may have converted to marital property, ditto if he put stocks into some sort of joint account and not into his own separate trust .....would have been smarter to have nailed down the financial points in the divorce process ...if EX was mechanically good about separate trust or inherited funds they would have remained separate ...was something else going on as to financial matters?

 

[Zigner]

Probably but not absolute ...IF monthly checks went into a joint account and funds were commingled and used to pay various marital bills then those funds may have converted to marital property, ditto if he put stocks into some sort of joint account and not into his own separate trust .....would have been smarter to have nailed down the financial points in the divorce process ...if EX was mechanically good about separate trust or inherited funds they would have remained separate ...was something else going on as to financial matters?

What the heck are you talking about? The divorce was finalized in 2015, so any assets (such as cash) have already been "divvy'd up". Any new payments from the trust are NOT the OP's. Please don't muddy the water with nonsense.

 

[HRZ]

Agree., my error, ..new payments are out of picture ..the only old picture was if trust payments or proceeds were put into some sort of joint account while married but that's old news and the pot was divided up.... her failure to get a clear financial picture is now old stale point .

 

[LdiJ]

What is the name of your state? Texas

My husband and I married in 2005. In 2007 his father set up an irrevocable trust for his son as his health was failing. We received monthly trust checks that were deposited into our account. In June of 2014, his father passed away, leaving and inheritance of more stocks and bonds that upon completion of the will, were to be moved into his sons trust.

We divorced in Nov 2015 and my soon to be ex refused to turn over any financial documents during the divorce. I received many texts from my ex that I would not receive any of his money, at the time I just wanted out of the relationship and be done with it.. My attorney didn’t push the issue.
Am I entitled to any of this? We were married for 10 years, had 1 daughter and he had adopted both of my sons who are adults now. I’ve heard so many conflicting stories on this.

Just to reiterate. His trust was always separate property and you were never entitled to any of it. An inheritance is also separate property.

 

[Dandy Don]

Did you receive ANY financial benefit from the divorce? Alimony? Child support?

If you received no financial benefit from the divorce, you appear to have been poorly served by your attorney.

You should consider at least consulting with another divorce attorney to find out if you have any options.

 

[Zigner]

If you received no financial benefit from the divorce, you appear to have been poorly served by your attorney.

We don't know that for sure. It does appear that way, but it sounds as if the OP simply wanted out and didn't care at the time.

You should consider at least consulting with another divorce attorney to find out if you have any options.

Options for what?