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Trusts… (Financial!)

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anonymous_normal_feet
Posted by
New Member

23 Feb 24 #522624 by anonymous_normal_feet

Topic started by anonymous_normal_feet

Hi all!

I am currently navigating through the divorce process and would appreciate some guidance on how to request financial information, specifically related to trusts.During our marriage (11 years), there is a trust that I was not fully aware of, and I believe it should be in the open. I understand that financial disclosures are a standard part of divorce proceedings, and I am seeking advice on how to tactfully request details regarding any trusts my ex-partner may be associated with... Has anyone else been in a similar situation or have insights on the best way to approach this? I want to ensure a fair and transparent process without causing unnecessary tension...

I believe the trust is a large sum, over a few million... it has benefited the other side significantly e.g. free houses, no need to work etc.Any suggestions or experiences you can share would be greatly appreciated.

Is it reasonable I ask this to be brought to the table?Thanks chat GPT for making my poor grammar better!

hadenoughnow
Moderator

25 Feb 24 #522638 by hadenoughnow

Reply from hadenoughnow

Access to funds from a trust are a relevant part of financial disclosure. This could be done via voluntary exchange of form E plus follow up questions. If you aren't satisfied with the disclosure and mediation doesn't help, you may have to seek the assistance of the court to extract the necessary details.
NB Property purchased by a trust and made available to a beneficiary to use is not a matrimonial asset if it remains owned by the trust.
A lot depends on the type of Trust and the terms of it.

Hadenoughnow

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