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Is there any type of trust fund that you can put money in that isn't included in a divorce?
I'm going through a seperation and in the process of getting a book published. I want to ensure that any money I make from this book does not end up in my soon to be ex's hand. He was very verbally and mentally abusive especially during the time that it took for me to write the book. So my question is, is there some way to keep him from getting his mits on any of it?
5 Answers
- MarkLv 71 decade agoFavorite Answer
In states that have both community property and "equitable distribution of marital property" as part of the divorce law, anything that was acquired during the term of your marriage [other than by inheritance] is deemed to be marital property and would be subject to distribution in the event of a divorce.
Anything you do with regard to property can be subject to discovery. That means that the other party in a divorce can either have interrogatories served on you to answer, take your deposition, or subpoena any records you have about financial transactions. If you are having a book published, your soon to be ex-spouse can subpoena records from your publisher to find out what you have been payed or what the terms of your contract with the publisher might be.
You can spend or give away anything you earn, but if you want to save it, it can be found and a portion of it may end up going to your soon to be ex-spouse.
- 1 decade ago
Sure, just stall the publication a while. That ought to do it. The problem with a trust is for a trust to be legitimate you have to have a "Trustor" AND a "Trustee". The person (or entity) that manages the Trust is the Trustor and the beneficiary is the Trustee. Ya just can't be both! You might (with your Publishers permission) have your Publisher be the Trustor and you be the Beneficiary, but if it happens before the Divorce then the Ex could possibly have a right to the income from the Trust. Course you could just open up a separate checking account and have your Publisher send the money directly to and and leave it alone for a while (until quite a bit after the Divorce) and deny to everybody that you ever got it in the first place. Of Course that's lying, but then again how would they ever find that out unless you told them?
- Anonymous1 decade ago
Donate it all to charity. Thats the only way he's not gonna get a taste. If you're in good shape financially it's a thought.
- ♥uuɐuuǝɾ♥Lv 41 decade ago
If you get the money after you've legally separated and filed for divorce, it's all yours.
