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Trust Assets and Divorce: NY and England
A divorcing client with potential jurisdictional ties to more than one country or state confronts his or her attorney with some unique preliminary questions. Which jurisdiction offers the potential for the best outcome for the client on issues of grounds, child custody, and so forth? A subject discussed less often is the treatment of trust property.
Divorce courts in New York and around the world are increasing their scrutiny of a divorcing spouse's trust assets, including assets placed in offshore trusts. A comprehensive analysis of how each country's courts handle situations like this is, of course, not possible here, but we can look at New York's stand on the issues. As a matrimonial attorney who frequently practices in England, I can also offer some insights into that country's take on the subject, which will serve as a window into the world of possibilities out there for the treatment of trust property in foreign divorce courts.
New York Cases
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In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?