Protection of and Access to Trust Assets
Many people seek to protect their wealth by setting up trusts for the benefit of their children and wider family. When their children or grandchildren divorce, it can cause havoc with family financial planning. The Family Court can, in some circumstances, take into account trust assets on marital breakdown, including family settlements established either before or after the marriage.
We act for wealthy individuals, advising, with the help of our Private Client department, on the best structures to protect assets in the future from the court’s redistributive powers. We also act for professional trustees advising them on their legal obligations in circumstances where a beneficiary is involved in divorce proceedings. We often represent divorcing beneficiaries who are concerned about the extent to which their trust interests may be taken into account in divorce proceedings. Conversely, we advise the spouses of such beneficiaries on the extent to which they can make a claim against trust assets.