QUESTION
is my husband entitled to my trust money in case of divorce
Asked on Jun 21st, 2015 on Divorce - New York
More details to this question:
My name is Mary Kostalas, and I am married to my husband for 43 years. I am about to begin divorce proceedings. We own 2 properties together, 1 in NYC and 1 in Florida. My sister set up a trust for me in 2010 when she sold our mother's house. She is the guardian of the trust, and I am not allowed to take money from it unless I ask her. He was not supposed to know about the trust, but he found out accidentally. I know that he will try to go after that money. I would just like to know if he is entitled to it, and if so, what can I do from now to prevent that from happening? Sincerely, Mary Kostalas
1 ANSWER
If it is inherited money or a gift specifically to you and it has never been put in a joint account it is separate property, not subject to equitable distribution in a divorce. You should consult a local divrce attorney and discuss your situation in detail: it is the responsibility of a person who claims separate property to prove its separate nature.
Answered on Jun 21st, 2015 at 12:39 PM