The following Family Q&A Produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:
The court in financial remedy proceedings will ordinarily seek to assess whether a spouse who is the beneficiary of a trust has by way of that beneficial interest a financial resource (see, generally, Charman v Charman and Browne v Browne). Such interests can be considered by the court as part of the circumstances of the case and may be treated as an asset in the balancing exercise to achieve a fair result. This will particularly be the case where the interest under the trust is a defined interest which is easily accessible now or in the reasonable future. There may be arguments, subject to needs, that trust assets should be treated as being non-matrimonial, depending on the nature of the trust and the length for which it has been established. See Practice Note: Introduction to trusts within financial proceedings.
A spouse who is a beneficiary under a trust must disclose that interest as part of the duty of full and frank disclosure within the financial remedy proc
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