Trusts not protecting assetts in divorce
- Thread starter jasonp3
- Start date
The first thing my lawyer has advised me while I was setting up my trust was
Trust does not protect you in a divorce
Do you mean caselaw precedents? search for Kennon v Spry.
there is also a lot in the Family Law Act - look at s90MB for example - court can override whatever is in the trust deed. Court can also make ordes on third parties such as trustees. So for example if your wife is not a beneficiary of the trust, or even an excluded beneficiary then th court can order the trustee to transfer property to her even though it may be in contravention of the trust deed and even be a breach of trust by the trustee.
The only thing that protects you from getting a divorce is not getting married.
Or in a de facto relationship.
If all else fails either lop it off or fill it with silicone :0
Do you set it up with a LOC too?
