Division of an Irrevocable trust when a divorce occurs.

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Division of an Irrevocable trust when a divorce occurs.

I have been married for 25 years. During that time my wife’s parents created an irrevocable trust and put in my wife’s name. Upon my wife’s parent’s death she is to receive 1/2 of a one million dollar life insurance policy and her brother the rest. Her brother has a similar policy, where as when her parents die he will get half and and her the other half. My question is what would happen in the case of a divorce before the death of my wife’s parents. Would I be entitled to any of the money from that life insurance policy? Thank you.

Asked on June 24, 2009 under Family Law, Nebraska

Answers:

Betsy Fischer / Betsy A. Fischer LLC

Answered 14 years ago | Contributor

Probably not.  Usually the trust document states who would be secondary in the event of a death.  The trust owns the insurance policy; not your wife.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption