Divorced Wife Remained Beneficiary of Irrevocable Trust with Split-Dollar Insurance

Wife continued to be a co-trustee and beneficiary of the husband’s irrevocable trust even after the divorce of the parties where (a) the trust document made no provision for the possibility of divorce, (b) the irrevocable trust was the beneficiary of a life insurance policy owned by wife’s revocable trust, which was the owner of the cash surrender value of the policy under a split-dollar agreement, (c) the divorce agreement allowed the wife to keep the insurance policy and cash surrender value, and made no mention of the irrevocable trust, and (d) the wife continued to pay insurance premiums following the divorce.  Klein Trust, 6 Fid.Rep.3d 118 (O.C. Monroe 2016) (opinion by Williamson, J.)

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