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  1. #1

    Default Divorce After Your Spouse Places Assets in Irrevocable Trusts

    My question involves estate proceedings in the state of Florida.

    Many marriage problems. I didn't learn of his affair with his paralegal until I filed for divorce. Husbands an attorney. I'm a stay at home mom with 3 young ones. I asked for divorce. He said wait a year. Businesss are to complicated I won't be happy with outcome. That same week he placed 5 rental properties from one of his sole corporations into irrevocable trusts. I learned this from the BCPA website a lawyer who consulted in showed me. He did not tell me nor ask before he did this. I borrowed money from my father and hired her on the spot. Filed for divorce 1 week later. What's the possible outcome if I take divorce to trial the judge will help me with the trusts. It's a 50/50 state I believe that I should get 1/2 of these properties. My lawyer seems to keep straying away when I talk about the trusts. I'm getting worried!! Help

  2. #2
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    Default Re: Asked Husband for Divorce. He Placed Rentals in Irrevocable Trusts

    Stop obsessing over the trusts.

    The properties may be untouchable to you, and you can't cut a building in half, but you'd be entitled to a monetary equivalent of your marital interest. If he couldn't come up with the money he'd be compelled to sell assets or be in contempt of court.

    Did you get a copy of your divorce petition?

    If not, get it and read it. Then you might understand what's happening.

    Get a copy of his response, too.

    And please stop opening duplicate posts. Your other one will be deleted. Please keep all your discussions to this one. And move your other question to this thread. Your marriage and divorce is all one topic.

  3. #3
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    Default Re: Divorce After Your Spouse Places Assets in Irrevocable Trusts

    Florida is not a community property state. It is an equitable distribution state so things like how the properties were purchased and where the money came from, may be factors in a divorce settlement. If your husband formed and built the corporation during the marriage, then you may have claim to part ownership. All of the details matter.

    Quote Quoting Simplysimple_chic
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    He said wait a year. Businesss are to complicated I won't be happy with outcome. That same week he placed 5 rental properties from one of his sole corporations into irrevocable trusts.
    Once you told him you wanted a divorce, he was on notice of what was pending. The court may see the transfer of the rental properties as a Fraudulent Conveyance to avoid distribution of the assets in the settlement. The court can reverse that conveyance.

    Quote Quoting Simplysimple_chic
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    My lawyer seems to keep straying away when I talk about the trusts. I'm getting worried!! Help
    Then find a different lawyer. You should be worried. Your husband thinks himself a clever attorney but that can also lead to his demise before the court. You need an attorney that really understands what is at stake here. This is not your run-of-the-mill divorce.

    For example, a clever attorney of your own might implead the trust into the case from the start. You should already have your petition for divorce, your husband's answer, and the trust documents.

  4. #4
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    Default Re: Divorce After Your Spouse Places Assets in Irrevocable Trusts

    Quote Quoting budwad
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    Florida is not a community property state. It is an equitable distribution state so things like how the properties were purchased and where the money came from, may be factors in a divorce settlement. If your husband formed and built the corporation during the marriage, then you may have claim to part ownership. All of the details matter.



    Once you told him you wanted a divorce, he was on notice of what was pending. The court may see the transfer of the rental properties as a Fraudulent Conveyance to avoid distribution of the assets in the settlement. The court can reverse that conveyance.



    Then find a different lawyer. You should be worried. Your husband thinks himself a clever attorney but that can also lead to his demise before the court. You need an attorney that really understands what is at stake here. This is not your run-of-the-mill divorce.

    For example, a clever attorney of your own might implead the trust into the case from the start. You should already have your petition for divorce, your husband's answer, and the trust documents.
    What Bud should really be saying is if you do not trust your current attorney, that you should find another one. Your case is too complex for an internet forum and you should not take the advice of anyone on an internet forum over your own attorney or another local attorney.

  5. #5
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    Default Re: Divorce After Your Spouse Places Assets in Irrevocable Trusts

    Quote Quoting llworking
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    What Bud should really be saying is if you do not trust your current attorney, that you should find another one. .
    That is what Bud is saying. That is what Bud said.

    Quote Quoting llworking
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    Your case is too complex for an internet forum and you should not take the advice of anyone on an internet forum over your own attorney or another local attorney.
    I did not give advise. I presented concepts in the law to educate the OP so they could discuss them with their attorney or a future attorney. Not every attorney is a sharp stick. Not every attorney fights tooth and nail for their client. Not every attorney specializes in every discipline. Some attorneys are just mills. This is a special case and that is what I said.

    Would it be OK with you if each time you posted a response on this forum I posted:

    Your case is too complex for an internet forum and you should not take the advice of anyone on an internet forum over your own attorney or another local attorney
    There wouldn't be much point in responding to any post. Would there be?

  6. #6
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    Default Re: Divorce After Your Spouse Places Assets in Irrevocable Trusts

    Quote Quoting budwad
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    That is what Bud is saying. That is what Bud said.



    I did not give advise. I presented concepts in the law to educate the OP so they could discuss them with their attorney or a future attorney. Not every attorney is a sharp stick. Not every attorney fights tooth and nail for their client. Not every attorney specializes in every discipline. Some attorneys are just mills. This is a special case and that is what I said.

    Would it be OK with you if each time you posted a response on this forum I posted:



    There wouldn't be much point in responding to any post. Would there be?
    Bud, the second part of my post had absolutely nothing to do with you. My belief is that her situation is too complex for an internet forum.

    I wrote the first part of most post because the way you worded it sounded more like you were advising her to get a new attorney, rather than saying that if she wasn't happy with her attorney then she should get a new one.

  7. #7
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    Default Re: Divorce After Your Spouse Places Assets in Irrevocable Trusts

    Quote Quoting llworking
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    I wrote the first part of most post because the way you worded it sounded more like you were advising her to get a new attorney, rather than saying that if she wasn't happy with her attorney then she should get a new one.
    Well yes. If her attorney will not explain the impact of the transfer of property to a trust and what can be done about it, then I would at least consult with other attorneys. That is significant in this case with division of assets.

    I always feel that when an attorney will not tell you what you want to know (as they are being paid for their time, usually) then there is a red flag that goes up. The attorney either doesn't know or doesn't care.

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