Legal Question in Wills and Trusts in Rhode Island
disposition of trust assets between wife and son
Woman gives up career to marry man with substantial inherited wealth and one son. Wealth is in trust created by man to protect principal, son has same exact name as father. What are wife's rights if any relative to dispostion of trust asset upon husband's decease? They are married in Rhode Island but live in Massachusetts or Rhode Island.
3 Answers from Attorneys
Trust after death
The domicile of the couple will determine if this is controlled byMassachusetts or Rhode Island. If they are domiciled in Massachusetts,the validity of the trust may depend upon whether the trust wasexecuted before or after marriage. If the trust was created aftermarriage, it is more likely to be set aside. However, in order to set it aside, you may have to do so (by divorce) before death. Without seeing the trust, I can only guess, but I think the trust will be valid if not attacked before death.
Mass. OR Rhode Island?
There's too little information given to answeryour question, I'm afraid. Do you have a copy of the trust agreement? It was unclear whether the trust was (your?) husband's creation to leave assets to his son (of a former marriage?) or was his father's creation. [ What is the significanceto you of both having the same name? ] Who is thetrustee -- is there a successor trustee? -- and who are the beneficiaries?
What are the trust terms? Does husbandhave a will and if so does the will further fund that trust? Is Husband in good health now? Is he still competent? Is he still in love with wife? Was there a pre-nuptial agreement? A post-nuptial agreement?
What happened to first marriage ... was there adivorce decree which required establishment ofthat trust?
Is son a minor? Incompetent? Wealthy in his own right?
How many years has this marriage lasted? Is it possibly on the verge of divorce? Does couple live in R.I. or Mass.?
The answers to all those questions will engender more. Perhapsit'd be best if you call me. If you prefer, first respond to the questions via e-mail.
Stuart J. Williams Attorney At Law email: [email protected] 617-527-0050
Re: disposition of trust assets
The other responses to this post outline the many questions that need to be answered by you before helpful advice can be provided to you. Since I am admitted in both Rhode Island and Massachusetts, perhaps it would be helpful if you contact me by e-mail at [email protected].
Patricia Joyce
Law Office of Patricia M. Joyce
Suite 25, 1050 Main Street