Is a revocable trust considered marital property in the event of a divorce if its in a child’s name and the husband is listed as a trustee?
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Is a revocable trust considered marital property in the event of a divorce if its in a child’s name and the husband is listed as a trustee?
Asked on May 16, 2012 under Estate Planning, Ohio
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If there is a revocable trust in the name of a child where the husband is listed as the trustee, then the assets in the trust are the child's unless the distribution is revoked. In such a situation, the trust is not a marital asset. It is an asset of the minor child until the distribution is revoked.
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