Accountants and Financial Advisors: How Are Trusts Treated in a Divorce?

Often there is a misconception by financial advisors and accountants that in a divorce, a Trust is going to be treated differently, or excluded from the asset pool in their client’s property settlement.  If you have this misconception it may be because trusts are typically set up to protect assets or as part of a tax effective strategy of dealing with assets. However, in Family Law, the key is to understand who controls the Trust. If the Trust is controlled by the people in the relationship or marriage, then it does form part of their property pool. 
Written by Fiona Caulley
Accredited Family Law Specialist
Director of Phillips Family Law

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