Division of an Irrevocable trust when a divorce occurs.
Question Details: I have been married for 25 years. During that time my wife's parents created an irrevocable trust and put in my wife's name. Upon my wife's parent's death she is to receive 1/2 of a one million dollar life insurance policy and her brother the rest. Her brother has a similar policy, where as when her parents die he will get half and and her the other half. My question is what would happen in the case of a divorce before the death of my wife's parents. Would I be entitled to any of the money from that life insurance policy? Thank you.
Betsy Fischer / Betsy A. Fischer LLC
Answered 3 years ago
This attorney is licensed in Louisiana
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Probably not. Usually the trust document states who would be secondary in the event of a death. The trust owns the insurance policy; not your wife.
