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I was the Beneficiary and grantor of family revocable trust

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during 23 year marriage. Divorce...
I was the Beneficiary and grantor of family revocable trust during 23 year marriage. Divorce judgement & settlement was signed July 2014. The court failed to distribute "Corporate Shares" held by trust. My ex is operating the Corporation and moved shares into his new Trust in his name. Because we were married the tax CPA used husbands SS#. My mother was dying the week I signed the agreement. The shares were not distributed and I have come to find he opened another store using loans against the Trust. This was never disclosed? What can I do?
Submitted: 1 year ago.Category: Estate Law
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Answered in 6 minutes by:
12/4/2015
Estate Lawyer: Barrister, Attorney replied 1 year ago
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 38,673
Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate
Verified

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Was husband a grantor (i.e. maker) of the trust as well as you?

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Was the court made aware of the shares, it just failed to address and divide them?

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Is the basic underlying issue that the shares were never divided, you overlooked this, ex then took them out of the trust, and now he has them in his name solely with loans against them?

.

.

thanks

Barrister

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Customer reply replied 1 year ago
to all of the above. I requested certified copy of Trust as my mothers home was gifted to us. I found encumberrances against her property for the corporation. It was not a mortgage. The divorce court forced sale out of Trust of my home to pay off loan. I believe the Trust was never disclosed as Iur Trust & Tax attorney worked for my ex. I believe they perpetrated fraud and collusion by the Trust Income seems to be diverted to "husband" solely under his SS#?
The EIN for the trust states in the certified copy it is his SS#???
Customer reply replied 1 year ago
What recourse do I have barring setting aside the judgement in family court. It's the lowest form of court and there are no ethics -here say is evidence and no proof is required.
Customer reply replied 1 year ago
Not to mention$$$$$
Estate Lawyer: Barrister, Attorney replied 1 year ago

Ok, then in a situation like this, you are going to have to get in touch with a divorce law attorney, (hopefully the same one who helped with the divorce if you had one) and then file a motion to reopen the divorce case to address the issue of the stocks that were not divided as being marital assets that were overlooked. The judge can then essentially look back in time to see what the shares were worth at the time of the divorce and amend the judgment to award you half the value of them and order ex to pay you that amount.

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I saw your follow up posts but there simply is no other way to get that money without going back to court. This is a divorce property settlement issue and that can only be resolved by the judge who presided over the divorce action and signed off on any final settlement agreement.

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So unfortunately, going back to court is your only recourse..

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thanks

Barrister

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Barrister
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 38,673
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Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate

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