December 9, 2011 –
Founding partner, Jay Rice, successful in defense of client’s right to have discretionary support trust excluded as an asset when determining alimony. The Supreme Court of New Jersey ruled in favor of Mr. Rice’s client when it affirmed the Appellate Division’s conclusion that the defendant’s beneficial interest in the discretionary support trust was not an asset held by her for purposes of the alimony statute and that no income should have been imputed to her from it. At issue was whether in a divorce action, the defendant/wife, who was the beneficiary of a discretionary support trust settled by her parents that she and her parents were the trustees of, could be considered an income stream and used to compute plaintiff’s alimony obligation based on this imputed income stream.
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The attorneys at Nagel Rice, LLP represent clients throughout New York and New Jersey in a wide range of matters including personal injury, automobile accidents, brain injuries, medical malpractice, business litigation and class action cases.