Q: If I have a trust set up in my name do I have to put that on the FL 150 in divorce proceedings
A:
In California, when filling out the FL-150 form during divorce proceedings, you need to disclose all financial assets and obligations. This includes trusts, especially if you are a beneficiary or have any control over the trust. Even if the trust is set up in your name, it's important to list it to ensure full transparency and compliance with legal requirements.
Failure to disclose such information can lead to complications or legal consequences later in the process. It's advisable to be thorough and honest in your financial disclosures to avoid any potential disputes or accusations of hiding assets. If you're unsure about the specifics of disclosing a trust, it's wise to seek legal guidance to ensure you're following the correct procedures.
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