Trusts & Divorce in Florida
The Virga Law Firm, P.A. Can Protect Your Rights & Assets
If you are filing for divorce, the division of your marital property may be one of your highest concerns and a serious point of contention between you and your spouse. Individuals who have established and funded a trust or who receive trust funds may be rightfully concerned about how their trust will be impacted during the divorce.
At The Virga Law Firm, P.A., we have a thorough understanding of Florida’s laws regarding property division. We have helped numerous clients navigate the complexities of the property division process involving trusts. Let our trust and divorce lawyers in Florida help you with your case.
Call us at (800) 822-5170 today to get started.
What Happens to Trusts during a Divorce?
Because there are so many different types of trusts and because every trust is set up differently, there are no hard-and-fast rules governing how to deal with a trust during a divorce.
Factors that affect how your trust is handled during divorce include:
- When the trust was established
- How the trust is funded
- How the funds are used
- The type of trust
Florida is an equitable distribution state, which means that all marital property is divided equitably – that is to say fairly, not necessarily equally – between the spouses. Florida treats money from a trust that a spouse received during the marriage as separate property. However, that characterization could change depending on how the spouse uses that money. If the spouse co-mingles the trust funds with marital money or assets, it could end up being classified as marital property and therefore subject to division.
Every situation is unique, so it is in your best interest to retain an attorney who can provide personalized representation. Our trust and divorce lawyers in Florida are ready to help.
We have handled divorce cases involving all types of trusts, including:
- Revocable trusts
- Irrevocable trusts
- Grantor-settled trusts
- Spendthrift trusts
To learn more about how The Virga Law Firm, P.A. can help you, call (800) 822-5170 today.