Gibson v. Gibson

The Georgia Supreme Court remanded this matter for redistribution of the marital assets. Alina Gibson (Wife) appealed the trial court’s order granting her requested divorce from Stewart Gibson (Husband). She argued that the trial court erred by excluding approximately $3.2 million in assets from the marital estate that Husband previously had placed into two trusts. She argued: (1) property placed in trust by one spouse without the other’s knowledge and consent remains marital property; (2) Husband’s transfer of assets into the trusts was fraudulent; and (3) Husband failed to transfer properly the assets in question into the trusts. The Supreme Court found that contrary to Wife’s argument, trusts like those here were exempt from equitable division absent a finding of fraud. Because the trial court’s finding that Husband’s transfers of assets into the trusts were not fraudulent was supported by evidence in the record, the Court affirmed the trial court’s rejection of Wife’s fraudulent transfer claim. Wife’s other claims were without merit too, with one exception: the Court agreed with her that transfers of the contents of two brokerage accounts into the trusts were ineffective under OCGA 53-12-25 (a) because the accounts erroneously listed Husband as trustee. View "Gibson v. Gibson" on Justia Law

Posted in: Family Law

Comments are closed.