I''d like opinions on the following (apologies if this is posted in the wrong place)
A trust exists with the sole beneficiary being the child of spouse A. The trustees are immediate family of spouse A. The rental income from property owned by the trust is paid wholly and directly from the tenants account into spouse A''s account (not that of the trust). Since the trust excercise no regulation or control over spouse A''s access to income generated by the trust, can it be argued that spouse A has an interest in and derives benfit from the trust and that therefore both the income and trust assets should be included in spouse A''s financial disclosure?
A can be asked to disclose the trust deed. It is not uncommon for a trust to allow the parent on a (dependent) child to draw money for the benefit of the child, and this might include usung that money trowards the cost of feeding, housing & clothing that child.
The income is likely to be relevent.
It is unlikely that A would be entitled to use the asset(s) themselves so it is unlikely that their value could, or should, be included in the settlement. If this is in doubt, A can be asked to provide a copy of the Trust Deed