Husband inherited from his father. In a FL divorce, what is the wife entitled to?

Asked almost 5 years ago - West Palm Beach, FL

Husband has inherited assets and keeps them in a sole trust. He receives an annual stipend and has purchased items with it (bus, car, motorcycle, jade collection, music equipment). The stipend also pays the mortgage we now have with the trust fund. In three years, the house is paid off and he will have made 4% interest on the loan and gets back all the money paid to the sole trust. In FL, which assets are considered 'joint' property? What is the wife entitled to? This is a 24 year marraige and wife brings in 1/2 the income to date and pays all other bills herself except for mortgage, property taxes and house insurance. His money is spent on himself. Until 5 years ago, husband and wife both worked and split all expenses, including the mortgage, etc. There are no minor children.

Attorney answers (1)

  1. Erskine Clark Rogers III

    Contributor Level 12

    Answered . You don't give a lot of information regarding the trust. If he is the grantor, if the trust is revocable, if there are spendthrift provisions, all may effect the result. Generally, if the trust pays him income, then assets purchased with that money would probably be marital, as would be the house, although the repayment of the loan / mortgage to the trust would probably be non marital. Also non marital assets can be used to fund alimony and attorneys fees, if other factors for an award exist.

    The above is a general statement of Florida law and not intended to be relied upon as legal advice, nor to create an attorney client relationship.

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