My ex-husband and I created a revocable living trust during our marriage. We are now officially divorced. What happens to the trust and is any action necessary on my part?
Estate Planning Attorney
Ideally, after a divorce, you should terminate the trust. Once terminated, you can consult with your own estate planner and have a new trust drafted. At the same time, you will want to revisit the rest of your estate plan, including powers of attorney, wills, ADHC, as well as updating any POD or joint accounts.
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6 lawyers agree
You should revoke the trust and distribute the assets to the parties in accordance with the divorce decree. If you still want to hold your assets in a trust you should create a new trust.
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4 lawyers agree
Wills and Living Wills Lawyer
I agree with Attorney Walker, i.e., the assets should be distributed in accordance with the divorce decree. Your assets should then be addressed through your own estate plan. I have seen, on several occasions, where an estate went to the ex-spouse, which was not the individual's intent.
No legal representation exists by virtue of this answer. It is recommended that you contact an attorney directly for a more complete response.