To get the most direct answer, there are a few important things you must understand:
A retirement account cannot be owned by an Irrevocable Trust.
A Trust will not be administered (meaning nothing in it will be distributed) until after its owner has died.
A dead person cannot get a divorce.
A retirement account of a living person can be divided in a divorce.
Certainly, in Oklahoma, except for a minor possibility that money from this particular retirement account might be dedicated as gifts to charity, a spouse may receive earnings from a retirement account in a divorce decree. Missouri will no doubt have a law addressing this issue clearly.
If you are asking on someone else's behalf, he or she needs a Missouri estate planning lawyer with the experience to analyze your situation and help that person provide for his or her children's future despite a divorce proceeding. You do the same, before divorcing, if you are asking for yourself.
To your success,Gale Allison, Principal AttorneyThe Allison Firm, PLLChttp://www.theallisonfirm.comhttp://www.linkedin.com/in/GaleAllison
Answered on Sep 22nd, 2011 at 6:52 PM