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Attacking Beneficial Interests in Spendthrift Trusts with Ownership Equivalence

New Jersey Law Journal

February 29, 2016

Author: William D. Lipkind

William D. Lipkind (Partner-New Jersey) has written an article featured in the February 29, 2016, issue of the New Jersey Law Journal: “Attacking Beneficial Interests in Spendthrift Trusts with Ownership Equivalence.” Bill points out that “Too often, attorneys fail to consider important non-tax questions when they draft trusts. If a child gets divorced, will the assets be vulnerable to equitable distribution? If a creditor sues a child, are the assets safe? If the child is forced into bankruptcy, are the assets safe? In most cases, the judges before whom these questions arise are not tax lawyers, and an answer that simply says that the trust ‘works’ for estate tax purposes may not win the day.”

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