Legal Question in Family Law in Arizona
want to form a family living trust, presently we are married with two adult children and they will be the beneficiary of the trust, in case after forming the trust and getting the forms registered in the county, for some reason if we seperate/divorce from each other, does the trust remain effective or do we have to do some other formalities to keep the family trust in force?
1 Answer from Attorneys
If you create a joint living trust to control distribution of your assets to your children upon death, and later terminate the marriage, the joint trust should be revoked and each spouse should create his/her own separate trust to control the distribution of his/her own share of the assets. Although unmarried persons can create a joint living trust (e.g. after you are divorced), doing so may affect your rights to your own property. I recommend you speak with an attorney who can answer your questions related to your estate planning objectives. We offer a free initial consultation and would be happy to speak with you regarding your situation.
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