What to do about a joint revocable Trust and divorce?
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What to do about a joint revocable Trust and divorce?
If my spouse and I establish a joint revocable living Trust together, and include the house I purchased before marriage and the property he purchased before marriage, but then later divorce, do we still walk away with the houses that we each owned prior to the marriage? Does my house remain my house, and his house remain his house? I understand that assets acquired post-marriage are community property but I’m not converned about that.
Asked on October 21, 2014 under Estate Planning, Arizona
Answers:
Anne Brady / Law Office of Anne Brady
Answered 9 years ago | Contributor
This is why the trust is revocable. It is time to revoke it. Once you do that, yes, the houses will revert to being owned by the people who owned them prior to the marriage. And yes, as you stated, Arizona is a community property state, so anything acquired during the marriage is community property.
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