New Jersey Family Law

FRANKLIN LAKES HACKENSACK RIDGEWOOD RAMSEY BERGEN COUNTY NJ DIVORCE MEDIATION ATTORNEY

 
In an important reported decision of first impression, a New Jersey appeals court deals with the complex issues of trust assest and trust income being available or unavailable for equitable distribution and support purposes.       Tannen v. Tannen,    N.J. Super.    (App. Div. 2010);    A.2d    , 2010 WL 3418248; New Jersey App. Div., October 14, 2010

ENGLEWOOD CLIFFS BERGEN COUNTY NEW JERSEY DIVORCE ATTORNEY MEDIATION TRUSTS

The trust and the trustees appealed from the New Jersey divorce judge's ruling that $50,000 of the trust's funds be turned over to the County Probation Services Division toward defendant's support arrears. Because (a) the funds belong to the trust, not to defendant, who is only a lifetime beneficiary; (b) the trust is maintained in Florida and has no contacts with New Jersey and (c) the trust is subject to Florida law, which recognizes the validity of spendthrift trusts and provides that where, as here, the disbursements are wholly within the trustees' discretion, it was error to order trust disbursements. The trial court improperly exercised quasi in rem jurisdiction over the assets of the trust.   Lerman v. Lerman, New Jersey App. Div., August 11, 2009

HUDSON COUNTY DIVORCE ATTORNEY

On an application under the Uniform Transfers to Minors Act [N.J.S.A. 46:38A-33]  and the Uniform Gifts to Minors Act [N.J.S.A. 46:38-27(b)] to compel an unwilling custodian to spend custodial funds for the minor’s benefit, the custodian’s decision deserved the same respect that is generally granted to a trustee’s decision, and it should be disturbed only on a showing of abuse of discretion, dishonesty, improper motive, or abdication of judgment.      Roberts v. Roberts, New Jersey Ch. Div., October 6, 2006

NEW JERSEY DIVORCE : ESTATE PLANNING

With an oil fortune on the line, former stripper Anna Nicole Smith encountered a sympathetic audience at the Supreme Court. Several justices said they were concerned that the one-time Playboy Playmate was kept from pursuing a piece of her late husband's fortune. Smith married oil tycoon J. Howard Marshall II in 1994 when he was 89 and she was a 26-year-old topless dancer in Texas. Marshall died the following year. His fortune has been estimated at as much as $1.6 billion. One of his two sons claims he is the only heir. Smith's claim is simple, said Justice David Souter, "Just give me the money I would have had."   Marshall v. Marshall, # 04-1544, Unites States Supreme Court, March 2, 2006