Pasadena & Beverly Hills Divorce Attorney

The Graves Law Firm
Call Today! 626.513.8227
  • Home
  • Firm Overview
  • Demetria Graves
  • Family Law
  • Testimonials
  • Firm News
  • Video Blog
  • Podcast
  • Contact Us
  • Call Today
  • Email Us
  • Our Map
  • Menu
Video Blog 2012 July Can You Trust A Trust In A Divorce?
Previous Post  |  Next Post

Can You Trust A Trust In A Divorce?

Posted By Demetria Graves || 30-Jul-2012

Protection – it's one word that has saved many relationships from getting serious. But for those who are trying to break away from a relationship – namely, getting a divorce – protection could again be the name of the game. What better way to ensure this than by filing the document with the perfect nickname, a "trust."

Trusts have been around for a while, and for the uninitiated, the very simple explanation of one is that it's a document that creates an entity to hold your property, and spells out how you want said property divvied out to your beneficiaries (or, you). People have been using trusts for years to escape tax liabilities, but can you use it to escape the treacherous hands of a divorce? The answer is yes…if you use it carefully and enter the property before your marriage date.

The goal is to enter into trusts whatever you don't want in your name specifically, but still want to maintain control of it. For example, if you don't want your business to be included in a possible divorce settlement later on, create a Domestic or Foreign Asset Protection Trust. This allows you to transfer ownership of the business to your trust, and thus out of your hands (in the legal sense). In a more common type of trust, the assets also don't belong to a beneficiary just because they're listed as someone benefitting from said assets. That works for couples who never see the divorce coming.

Of course, all trusts aren't built the same. You need to speak to a trust attorney before finalizing any transfer that stops you from being the owner of your company or assets. Also, some states have different rules that could affect how your trusts are seen in the eyes of a divorce court. Even so, trusts may be your best friend when your marriage is coming to a close.

Categories: Divorce, Property Division

Share Post

Family Law

How Can We Help You?

  • Divorce
  • Divorce FAQ
  • Child Custody
  • Visitation
  • Property Division
  • Spousal Support/Alimony
  • Child Support
  • Bankruptcy & Divorce
  • Paternity
  • Legal Separations
  • Mediation
  • Relocation
  • The Family Law Attorney Vault

The Graves Law Firm

We Can Help You Make a Fresh Start

I would like to receive It Doesn't Have To Be Ugly e-book for free!

Send My Information
  • Home
  • Site Map
  • Privacy Policy
  • Contact Us
The Graves Law Firm

Call Today (626) 513-8227

The Graves Law Firm - Pasadena & Beverly Hills Family Law Attorney
1055 E. Colorado Blvd., Suite 500a, Pasadena, CA 91106 View Map
Main (626) 513-8227
Local (855) 653-3517
Beverly Hills Office: 9595 Wilshire Blvd, Suite 900
Beverly Hills, CA 90212
Phone: (310) 300-4023
Website: http://www.losangeles-divorcelaw.com/
© 2022 All Rights Reserved.
Internet Marketing Experts The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.