[WSBAPT] End of Asset Protection?

[Diane J. Kiepe]

Boy oh boy!  Thanks for the share.


Diane J. Kiepe
Douglas Eden, P.S.
717 W. Sprague Ave., Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Nick Pleasants
Sent: Wednesday, September 20, 2023 2:05 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] End of Asset Protection?

Hi All,
In further evidence that Irrevocable Trusts may not be quite so irrevocable anymore, I wanted to share a Massachusetts Appellate decision that came out September 6, 2023. Jones v. Jones<https://www.mass.gov/files/documents/2023/09/06/q21P0655.pdf>, No. 21-P-655, 2023 WL 5729650 (link to the opinion). Divorce case, wife has an irrevocable trust she inherited from her mother. Trial court decided that it could include wife's trust among the marital assets because, "The wife's mother played a significant role in shaping the marital lifestyle and financial expectations." Trust has an independent trustee in Michigan, but that didn't stop Massachusetts from asserting jurisdiction and issuing the alimony order. This wasn't even her separate property, it was an asset-protected independent trusteed asset.
Shocking to see it upheld on appeal. Disappointing to see wife's mother's careful estate planning get ripped to shreds in her daughter's divorce. I hope this is not the new norm for divorce courts across the country.
Best,
Nick
Nicholas Pleasants | Shareholder

[OseranHahnAttyatLaw 8]

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