Richards v. Richards

Carley, Justice.

In 1994, James Richards established an inter vivos trust and named his three minor children as the beneficiaries. Janet Richards, his wife at the time, was a trustee. In 2000, the parties divorced and, as a consequence, Ms. Richards was no longer trustee. The settlement agreement provided that Mr. Richards would pay $2,000 per month in child support based, in part, upon the existence of the trust and the parties’ “anticipat[ion] that the assets maintained and the income generated by the Trust are sufficient to cover any expenses of the children incurred above and beyond the…