Denver Divorce Lawyers Handling Family Trust Issues
Family trusts established before or during marriage may qualify for treatment as separate, not marital property. It is often considered wise to draft and execute a premarital agreement in order to avoid property division of an interest in a family trust.However, many trust beneficiaries who do not exercise such foresight find that there are certain trust interests that may be included as part of the divisible assets in a divorce.Family members who created the trusts may view judicial intervention and the “discovery” process associated with valuation of a marital component of a trust interest to be an unwelcome invasion of that family’s privacy and wealth.
Valuation And Division Of Interests In Trusts
Emerging case law in Colorado has created uncertainties in this area of divorce law. Trusts are designed to accomplish many different objectives and the Court will be required to determine the powers and discretions of the trustee in order to assess the interests of the beneficiary.
There are many different types of trusts and extremely complex issues when assessing the marital component, if any, associated with trust interests. Call Polidori Franklin Monahan & Beattie L.L.C. to discuss these and other trust issues:
- Irrevocable trusts and revocable trusts
- Generation-skipping trusts
- Life insurance trusts
- Appreciation in value during marriage
- Beneficiary interest and possessory interests
- Discounting a trust interest to present value
When Much Is At Stake, Great Care Must Be Taken
It is always wise to work with an experienced attorney in a matter this important. Our family lawyers team with the top estate planning attorneys in our state when handling trusts that are potentially subject to property division in a divorce. Call the Denver family lawyers at Polidori Franklin Monahan & Beattie L.L.C. at 303 936 3300 or contact us online.
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