Does Being Divorced Make You Divorce-proof?
Many people may have the misperception that being divorced makes them divorce-proof. If you're looking to avoid divorce, here are some ways to protect yourself and your assets.
Irrevocable trust shields assets from divorced spouse
An irrevocable trust is a great way to protect assets from your divorced spouse. This type of trust is created before the marriage, and its terms cannot be changed without the beneficiaries' permission. Moreover, it also gives the grantor control over the assets that are placed in the trust. A divorce can be a challenging time for a person, and an irrevocable trust is a smart way to avoid the stress of a divorce.
If the marriage lasted for more than a year, the assets acquired during the marriage will be considered marital property. Using an irrevocable trust will ensure that the assets are not distributed after the divorce, even after a long separation. However, the transfer of assets is considered fraudulent, and the court can deem it a fraudulent conveyance.
If you need an Divorce Lawyer, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
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