Legal Question in Tax Law in Florida

Divorce/children't trust taxes

All three of my children have a trust provided for by the maternal grandfather. After our divorce my wife claims 2 of the children on her income tax and I claim 1 daughter who lives with me. This past year my wife or her father sold 48,000 worth of stock in my daughter's fund. We have no control over this trust fund and recieve no benefit from the sale of this stock. We have claimed Alayna on our taxes back in February. (as per our agreement ). Today July 1, she sent me over a return made out for my daughter in which she said that we are responsible to pay for the tax on that sale of $48,000 worth of tax which amounted to $1700! We have no means to pay for this and had nothing to do with the sale of that stock, nor did we receive any money for that. We protested to her. She said because we claim the daughter, we are responsible. ( In the past, the kids returns have been separate.) I spoke to my ex-wife and said how unfair I thought it was that she or her father (who is now deceased) can sell any amount of stock they want and we receive no benefit (nor does my daughter) but still are required to pay the tax! What if they decide to sell it all while I am still responsible to pay for it....Help!


Asked on 7/01/07, 11:33 pm

1 Answer from Attorneys
Johm Smith tom's

Re: Divorce/children't trust taxes

You need to talk to an accountant and probably have this matter addressed in the divorce court. It sounds like you have an argument that the ex-wife is depriving one of the daughters of her share of the funds.

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Answered on 7/02/07, 10:26 am


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