If my husband’s father has placed all his assets in my husband’s name in a trust, can this money be considered when calculating my husband’s assets/income?
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If my husband’s father has placed all his assets in my husband’s name in a trust, can this money be considered when calculating my husband’s assets/income?
Can this money be considered when calculating alimony and child issues, such as do I contribute to the children’s college education? I have been stay at home mother for 18 years
Asked on September 6, 2012 under Family Law, New Jersey
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Generally speaking, that would probably be considered inheritance and not be part of your property distibution. In other words, it would not be considered an asset of the marriage. Assets acquired during the marriage are marital assets. But I would have some one take a look at the trust anyway. As for deciding if it can be considered income for child support, that varies from state to state. What also need to be considered is if the money is actually available to him now. Generally it only becomes available when the parent passes away. Good luck.
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