Quora Answer: Can a Spouse Access an Irrevocable Trust in a Divorce?

The following is my answer to a Quora question: “Can a spouse access an irrevocable trust in a divorce?”

Unless the spouse had prior access as a trustee of beneficiary, he or she may not access an irrevocable trust.  The irrevocable trust is considered a distinct entity from the settlor of the trust, by law.  This means that even in the event of an extremely acrimonious divorce, it is not possible for the contending party to access the trust, to engage in a process of discovery to ascertain the assets of a trust, or make a claim on it.  This is precisely why wealthy people create trusts.  Trusts also protect assets from claims by creditors, or even a bankruptcy petition.  They mitigate tax exposure, and are an excellent means of squirrelling wealth away, since they may not be compelled to disclose their holdings.