Many wealthy individuals enter into a second marriage with a family trust already in place. A prenuptial agreement is often used to protect the original value of the trust assets. The prenuptial or post-nuptial agreement will be subject to litigation if the other spouse can show that the assets appreciated in value because of marital contributions or were commingled with marital assets.
Dividing Trust Accounts
If a family trust will be part of your marital property settlement in your pending divorce, make sure your attorney understands the laws relating to high net worth property distribution in Missouri, Illinois, Kansas and Oklahoma. Since 2007, Stange Law Firm, PC, has been providing experienced, intelligent representation for people of high net worth going through divorce.
There are many complex financial issues relating to family trusts in divorce, including:
- Transmutation of assets and characterization as separate or marital property
- Tax issues relating to the trust fund
- Appreciation of value over the duration of the marriage
- Litigation of prenuptial agreements affecting the characterization of the trust fund
You can also read an article written by Kirk C. Stange for more information on this topic titled: An Overview: Trust Division and Divorce or Domestic Asset Protection Trusts versus Prenuptial Agreements: What is the best option?
Contact Our Experienced Missouri, Illinois, Kansas and Oklahoma Trust Divorce Attorneys
Contact our property division lawyers online or by phone to schedule a confidential consultation at one of our convenient locations. We have locations in St. Louis, Kansas City, Columbia, Springfield, Wichita, Tulsa and beyond in the Midwest.