Brighton, TN asked in Estate Planning for Tennessee

Q: If I open a trust fund for my daughter from a previous relationship Will this be protected?

If I get divorced from my current husband will this money be protected? Could he take half of it or is it safe since it’s in her trust fund.

Related Topics:
1 Lawyer Answer
Anthony M. Avery
PREMIUM
Anthony M. Avery
Answered
  • Estate Planning Lawyer
  • Knoxville, TN
  • Licensed in Tennessee

A: Do not create this Trust yourself. Hire a competent attorney to draft a simple Trust, possibly Spendthrift, without anyone else but the Trustee knowing. It will be difficult to keep it out of a divorce unless it is set up right and only certain people know about it. You will probably not want to be the Trustee as the Husband will discover same.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.