In an earlier post, I wrote about LLCs and when the LLC as an entity must be joined as a party to the equitable distribution proceeding. https://civil.sog.unc.edu/equitable-distribution-when-does-the-marital-llc-have-to-be-joined-as-a-party/ . The same issue arises when one or both parties have a beneficial interest in a Trust claimed to be marital property.

A beneficiary’s interest in an express Trust varies significantly based on the specific provisions of the Trust. But, in most situations, the beneficiary of an express Trust has a property interest in the Trust that can be classified, valued, and distributed in equitable distribution.  See e.g., Lawrence v. Lawrence, 100 NC App 1 (1990). See also discussion, Brett R. Turner, Equitable Distribution of Property, section 6.94, citing along with other cases, Jenkins v. Jenkins, 368 S.W.3d 363 (Mo. Ct. App. W.D. 2012); and Fox v. Fox, 592 N.W.2d 541 (N.D. 1999). [Turner also acknowledges that an interest in some trusts may be so contingent and speculative as to not amount to a recognizable property interest. That discussion is beyond the scope of this post].