Hello, my wife has a trust in her name from her mother. The trust was acquired by my wife during the marriage, when we go to the bank and the banker types in my wife's ssn the trust comes up under her ssn but it is in trust for her from her mother.
My wife recently filed a divorce am I entitled to the money that is in this trust?
You need to seek immediate advice from a qualified divorce attorney. The trust that you mention is only one consideration and your attorney can tell you what effect it will have, if any. Many times, assets such as this are considered the separate property of the inheriting spouse. But they can still have an impact in terms of calculating spousal support and sometimes child support. Many times, and perhaps most times, the parties agree on a property settlement, instead of the court. In that case, it can still be part of your negotiations.
You need to find an attorney to assist you as soon as possible. Divorce is no place for you to go into battle on your own.
I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state. The law changes frequently and varies from state to state.
I agree with my colleague. No one should go into an acrimonious divorce proceeding without an attorney. That is especially true with issues like this trust that you have mentioned.
I agree you need to be represented in the divorce proceedings.
This answer does not constitute legal advice and no attorney client relationship has been formed. Before choosing a course of action, it is always advisable to seek the advice of an attorney in your area.