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Trust Drafting Tips: How to Make Trusts Harder to Reach in Divorce
Trusts have traditionally been used to protect wealth from divorce. However, what many estate planners refer to as “traditional” trust drafting (which continues to be used by many practitioners) is not nearly as effective at protecting wealth from the potential risks of divorce as approaches advocated by what some loosely refer to as “modern trust drafting.”
Much of this article compares and contrasts what might be viewed as a traditional approach to drafting clauses in an irrevocable trust, to what the modern approach to trust drafting would advocate. While the reasons that the modern approach will likely prove superior to the traditional approach might be obvious, the point is explained not only so that it is clear to matrimonial practitioners, but so that hopefully it will encourage estate planning attorneys to focus their drafting efforts on providing greater protection from future matrimonial actions of beneficiaries.
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